April 24, 2023

FINNISH MINERALS GROUP Joins the Global Rare Earth Industry Association

The mission of Finnish Minerals Group is to responsibly maximize the value of Finnish minerals.

Finnish Minerals Group has joined the international Rare Earth Industry Association. Founded in 2019, REIA is a non-profit organisation representing the global rare earth elements (REE) industry. Currently, the network consists of over 70 members worldwide representing all major countries.

”We are developing a globally significant REE deposit in Sokli and to be able to achieve the full commercial potential with lowest possible impact on the environment, we need development collaboration with leading REE players. REIA’s global network provides a good base for finding the right partners for us for mutual value creation,” says Jani Kiuru, SVP, Raw Materials at Finnish Minerals Group.

“It is currently a major challenge to provide the industry with a secure supply of strategic raw materials such as rare earths, which are crucial for the green transition via manufacture of renewable and low-CO2 technologies consisting of critical REE materials. Through our membership, we will contribute to building transparent and responsible European REE value chains with our raw material assets,” states Jani Adolfsson-Tallqvist, Project Manager of Finnish Minerals Group’s REE business development.

“Finnish Minerals Group’s membership will strengthen REIA’s network and information on the European raw material playground. Finnish Minerals Group’s activities within the raw material part of the REE value chain has a significant potential to contribute in securing the supply in Europe,“ says REIA President Badrinath Veluri.

About FINNISH MINERALS GROUP (Suomen Malmijalostus 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 and name were given to our 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. Today, our mission is to responsibly maximise the value of Finnish minerals. At the same time, we are involved in developing ecosystems, i.e. cooperation networks of companies and organisations that create new business and innovation.