Finnish Minerals Group, a mining and battery industry development company, and Norway’s Freyr Battery have agreed to jointly assess the feasibility of establishing an LFP cathode material plant in the Finnish city of Vaasa.
Axel Thorsdal, SVP Project Development at Freyr said: “We have long stated that our sourcing strategy is local in nature and based on renewable energy sources, and we see Finnish Minerals Group as a like-minded partner that can help ensure that we are well-positioned to meet this ambition.”
In the initial study phase, Finnish Minerals Group and Freyr will focus on the business plan, engineering, cost estimates, financing and environmental impact assessment.
In January, Freyr submitted the environmental impact assessment programme for the plant to the local coordinating authority.
Finnish Minerals said the assessment procedure will be based on two capacity alternatives: 20,000 and 60,000 tonnes per year. The plant would be located in the GigaVaasa industrial area in the City of Vaasa, where Freyr has reserved a plot of 51 hectares.
