It is expected that after commissioning, the plant will reach full capacity by 2026, with production volume to be 200 tons per year
HELSINKI, June 18. /TASS/. Finnish mining and chemical company Terrafame has become the first in the European Union to begin uranium mining. This was stated in a press release by the company.
The Finnish Radiation and Nuclear Safety Authority (STUK) has issued the relevant permit.
The uranium extracted by Terrafame will be transported abroad for further processing, after which it will be used in nuclear energy production.
It is expected that after commissioning, the plant will reach full capacity by 2026, with uranium production at the enterprise to be about 200 tons per year, which corresponds to about nine months of consumption at the new Olkiluoto-3 nuclear power plant in Finland, the company specifies. It is planned to continue producing uranium along with the production of other metals throughout the entire life cycle, which covers at least the next 30 years.
Terrafame is a Finnish state-owned (56.1%) mining and metals company, operating in the Sotkamo mining area of 60 square kilometers, of which 20 square kilometers are developed. The turnover in 2023 was 561 million euros, operating profit 94 million euros. The company employs approximately 850 people.