Finnish Minerals Group

Finnish Minerals Group Oy is a special-purpose company wholly owned by the State of Finland, tasked with developing the mining and battery industry in Finland; its current mandate was given in June 2018. The company states that it is developing a responsible battery value chain in Finland, supporting the European Green Deal goal of climate neutrality by 2050, and that its mission is to responsibly maximise the value of Finnish minerals. Its group companies include Terrafame Oy, Sokli Oy, IONCOR Oy, Finnish Battery Chemicals Oy and Finnish Batteries Oy, and its portfolio also includes Keliber Oy and Easpring Finland New Materials Oy.

Finnish Minerals Group Oy is a special-purpose company wholly owned by the State of Finland, with a task to develop the mining and battery industry in Finland; the current mandate was given to the company in June 2018. In 2015–2018 the company operated under the trade name Terrafame Group Oy and focused on the tasks of Terrafame Oy's parent company. In 2018 the company changed its name to Suomen Malmijalostus Oy and adopted Finnish Minerals Group as its auxiliary business name. In the spring of 2025, Finnish Minerals Group Oy was adopted as the company's trade name. The company states that it is developing a responsible battery value chain in Finland and contributes to supporting the European Green Deal, according to which Europe aims to achieve climate neutrality by 2050. Its mission is to responsibly maximise the value of Finnish minerals, and its strategic objectives include creating value through active ownership, increasing value add by building a Finnish battery value chain, and building sustainable businesses.

A state-owned developer and investor building a Finnish battery value chain and responsibly maximising the value of Finnish minerals.

• Nickel and cobalt sulphates for lithium-ion batteries

  Produced by subsidiary Terrafame Oy, which provides customers with a transparent, traceable and truly European battery chemicals supply chain.

• Lithium hydroxide

  Keliber Oy is a mining and battery chemical company that aims to start production of lithium hydroxide in 2026.

• Battery systems

  Subsidiary IONCOR Oy develops and manufactures battery systems particularly for the electrification of bus & truck segments, off-highway machinery and the automotive industry, operating in Finland and Germany.

• Cathode active material

  The plant under construction in Kotka by Easpring Finland New Materials Oy is intended to produce the cathode active material needed to manufacture lithium-ion batteries.

1. 1Paving the way for a cleaner future - Finnish Minerals Groupmineralsgroup.fi
2. 2We maximise the value of Finnish minerals responsibly - Finnish Minerals Groupmineralsgroup.fi
3. 3Building sustainable business value - Finnish Minerals Groupmineralsgroup.fi
4. 4Strong businesses sustainably - Finnish Minerals Groupmineralsgroup.fi
5. 5Finnish Minerals Groupwikidata.org