Finnish mining company Terrafame will start extracting uranium by mid 2024 at its Sotkamo mine in Finland, aiming at output of 200 tons per year by 2026, the company said on Wednesday.
Terrafame, in which the Finnish state holds 67.1% and commodities trading firm Trafigura, already produces nickel and cobalt sulphates for electric car batteries as well as other minerals at the mine in northeastern Finland.
“As the recovery begins, Terrafame will become a Finnish uranium producer, and thus will also play a role in building Europe’s energy self-sufficiency,” it said in a statement.