Finnish Minerals Group said an environmental permit granted by the Regional State Administrative Agency for the cathode active material plant planned for Kotka became legally binding on 5 December.
The company said no appeals were received against the permit decision and this enables the project to progress to the next phase.
Timo Strengell, SVP at Finnish Minerals Group, said the CAM plant is planned for the Keltakallio industrial area of Kotka, Finland. Operations are due to start in 2026.
Once operational, the plant will produce CAM for the electrification of transport and energy storage.
Finnish Minerals Group owns 30% percent of Easpring Finland, which received the permit, and has been involved in planning the project for several years. The project is valued at approximately €770 million ($808 million).
The group manages the Finnish state’s mining industry shareholdings and aims to develop the Finnish value chain of lithium-ion batteries.
