Finnish mining company Terrafame has begun recovering natural uranium as a secondary product alongside zinc and nickel production at its Sotkamo mine, located in Talvivaara in northeastern Finland.
This marks a significant development in the Finnish mining industry and positions the country as the only uranium producer in the European Union.
Regulatory Approval and Operational Start
Finland’s Radiation and Nuclear Safety Authority (STUK) granted approval for the uranium recovery plant on June 17th, following comprehensive inspections and a review of Terrafame’s documented procedures.
This decision cleared the way for the commissioning of the facility and the commencement of uranium recovery operations.
The Sotkamo mine’s previous owner, Talvivaara Mining Company, had intended to produce uranium at the site and even constructed a uranium extraction plant before facing bankruptcy in 2014.
Terrafame, the current owner, is 70% owned by Finnish Minerals Group, a state-owned company.
Permitting Process and Initial Testing
Terrafame applied for large-scale uranium recovery in October 2017, already holding the necessary chemical and environmental permits.
The government granted this permit in February 2020, and the Supreme Administrative Court of Finland upheld the decision in June 2021.
In 2017, STUK also permitted Terrafame to recover a small amount of uranium for testing chemical processes, under which the company could produce a limited quantity of process solution containing uranium.
Terrafame’s innovative production process allows for the utilization of the low concentration of natural uranium present in the ore as a by-product.
The recovered uranium will be transported abroad for further processing and will ultimately be used in nuclear fuel.
Production Capacity and Economic Impact
The uranium recovery plant will reach full capacity by 2026, producing an estimated 200 tons of uranium per year, enough to supply Finland’s Olkiluoto 3 EPR nuclear power plant for approximately nine months.
Terrafame plans to continue uranium production alongside other metals for at least the next 30 years. The company expects uranium recovery to increase annual net sales by EUR30–40 million (USD32-43 million), based on the current market price.
Contribution to Climate Goals and Energy Self-Sufficiency
Terrafame CEO Seppo Voutilainen highlighted the importance of natural uranium in achieving climate goals and enhancing Europe’s energy self-sufficiency. He emphasized that their modern production process allows for the cost-effective recovery of even more metals, including uranium.