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Belgrade
25/06/2024
Mining News

Finnish Minerals Group made substantial progress in driving investment projects in the mining and battery industries in 2023

The mining and battery industry play an increasingly vital role in European industry development, driven by climate concerns and global shifts. The rise of e-mobility escalates the demand for critical raw materials, emphasizing the need to bolster European production capabilities for self-sufficiency. In 2023, Finnish Minerals Group made significant strides in mining and battery industry investment projects across Finland.

The group’s consolidated financial performance showcased promising figures: net sales reached EUR 561.1 million, albeit with a loss of EUR 10.6 million for the financial period. Total assets stood at EUR 1.4 billion. Finnish Minerals Group encompasses several subsidiary companies, including multi-metal firm Terrafame Oy, mining project entity Sokli Oy, and battery value chain project enterprise Finnish Battery Chemicals. The parent company recorded a loss of EUR 3.5 million for the financial period, with total assets amounting to EUR 707.5 million.

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During the Annual General Meeting held on March 28, 2024, significant leadership changes took place. Jan Lång assumed the role of Chair of the Board, with Olavi Huhtala elected as Vice Chair. Board members Ilpo Korhonen and Jukka Ohtola retained their positions, while new members Riku Kytömäki and Taru Uotila were appointed immediately, and Ilona Lundström will join the board as of June 1, 2024.

Furthermore, the Annual General Meeting addressed critical issues such as corporate responsibility, financial statements, and the company’s remuneration policy and executive compensation.

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