Terrafame Group and Terrafame secured a USD 200 million funding package to support their expansion into the electric vehicle battery market, backed by Galena Asset Management, Trafigura, and Sampo plc.

Target Information

Terrafame Group Ltd. and Terrafame Ltd., key players in the Finnish multi-metal sector, have secured a funding package to bolster their operations in the electric vehicle battery segment. This initiative, formalized on November 9, 2017, represents a critical step in Terrafame's evolution from established mining operations to innovative investments focused on sustainable growth.

Previously, the entities, relying on a EUR 250 million funding agreement, have transitioned into a phase of industrial maturity. The new funding arrangement of USD 200 million (approximately EUR 175 million) is crucial in facilitating Terrafame's exploration of further investment opportunities.

Industry Overview in Finland

The Finnish mining industry has seen robust development, spurred by a global shift towards sustainability and electric vehicles (EVs). Finland is rich in minerals essential for battery production, particularly nickel and