Terrafame

Industry

Remediation

Topics

Role

Services / consulting — “…rge nickel reserves, modern laboratory services, and logistics that ensure product purity. Its value chain spa…”

Parent / group

Finnish Minerals Group Oy, Galena funds, and Mandatum Oyj

Why it is bioeconomy

Terrafame is a battery chemicals company that utilizes a bioleaching process to extract metals from ore for use in electric vehicle batteries.

Products: Nickel and Cobalt Sulphates; Zinc and Copper Sulphides; Ammonium Sulphate; Zinc; Copper; Natural uranium; Scandium

Applications

Battery chemicals for electric cars · Zinc and copper for metal processing · Fertilisers · Chemical industry · Construction industry · Automotive industry · Electrical equipment · Consumer products · Industrial machinery · Nuclear energy production · High-technology applications · Defence industry

Production sites

Finland — Not specified; Nickel sulphate · Tuhkakylä, Sotkamo — battery chemicals · Sotkamo, Kainuu region — battery chemicals · Sotkamo, Finland — Battery chemicals

Products (website)

Nickel and Cobalt Sulphates — Used as battery chemicals for the needs of around one million electric cars per year. · Zinc and Copper Sulphides — Produced for the needs of long-term partners. · Ammonium Sulphate — Produced for the needs of long-term partners. · Ammonium sulphate — Used as a raw material for fertilisers and chemical industry. · Zinc — Protects steel against corrosion and extends its useful life. Used widely in construction and automotive industries to protect steel. · Copper — Easily mouldable metal that conducts heat and electricity well. Used in a wide range of applications in construction, electrical equipment, vehicles, consumer products, and industrial machinery. · Natural uranium — Recovered starting from June 2024 and used as a fuel in nuclear energy production. · Scandium — A rare earth element, key metal in high-technology applications and defence industry, with important applications in high-performance aluminium alloys.

Read from the company's own website: home · about · products · production · rnd · leadership · contact · sustainability

Subsidiaries: Terrafame Alueverkko Oy (100%)

• 2026-03 Latest status: The company concluded change negotiations in March 2026 to improve competitiveness and profitability, resulting in planned personnel reductions and temporary layoffs. ↗ ↗ ↗
• 2026-07-24 Terrafame's January–June 2026: Strategy execution progressed as planned and profitability improved - Terrafame
  Terrafame reports progress executing its 2026–2030 strategy with improved operational efficiency and a stronger profitability trend in H1 2026, helped by higher nickel prices but pressured by cost inflation and certain tax increases; they emphasize ongoing …
• 2026-07-08 Court orders Terrafame to add mineral seal layer to mine waste cover - Daily Northern
  The Vaasa Administrative Court has ordered Terrafame to add a mineral sealing layer (e.g., bentonite mat or compacted fine-grained till) to its mine waste cover, overturning parts of the previous permit and prompting the company to decide whether to appeal to …
• 2026-05-19 Terrafame launches pre-feasibility study for scandium recovery to strengthen Europe s critical raw materials supply - Terrafame
  Terrafame is expanding from nickel, copper, cobalt, zinc, and uranium to become Europe’s sole scandium producer by launching a pre-feasibility study to recover scandium from its existing processes, aiming for production within a few years and strengthening …
• 2026-05-12 Terrafame invests in primary leaching capacity – sale and leaseback of internal electricity network a significant part of financing - Terrafame
  Terrafame is investing heavily in expanding its primary leaching capacity (LEACHMAX) to boost nickel and zinc production and improve byproduct recovery, funded in part by an EU Innovation Fund grant and a sale-leaseback of its internal electricity network to …
• 2026-05-04 Terrafame has submitted permit application covering its entire operations and the Kolmisoppi project – the company anticipates swift processing - Terrafame
  Terrafame has filed a comprehensive permit application for its entire operations plus the Kolmisoppi project, aiming for a rapid, CRMA-facilitated process to ensure continuity and long-term viability, with a projected one-year permitting timeline.
• 2026-06-16 CFO of Terrafame to change – Ilkka Pitkänen appointed as the new CFO - Terrafame
  Terrafame announces that Ilkka Pitkänen will become CFO effective August 1, 2026, with current CFO Ville Sirviö transitioning to an advisory role through August 31, 2026, as the company pursues its adapt-and-grow strategy and strengthens financial management.

Ownership & investors 5

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