Terrafame implements previously agreed financial arrangements

Terrafame Ltd’s parent company, Finnish Minerals Group, has allocated EUR 20 million of equity funding to Terrafame from the investment commitment granted in February 2017. This arrangement does not require any new funding from the State of Finland.

Terrafame has also drawn USD 50 million of equity funding granted by Galena, which is part of the investment funding package provided by the owners for the battery chemicals plant.

A positive investment decision to start the construction of the plant was made in October 2018.

Further information:

Joni Lukkaroinen, CEO, +358 (0)50 590 0720, joni.lukkaroinen(at)terrafame.fi

Terrafame Ltd is a Finnish multi-metal company producing nickel, zinc, cobalt and copper at its mine and metals production plant located in Sotkamo, Finland. We are now planning the processing of our main product, nickel-cobalt sulphide, into nickel and cobalt sulphates suitable for electric vehicle batteries. Our aim is to conduct environmentally sustainable, safe and profitable operations. www.terrafame.com