Annual production is expected to reach 15,000 tonnes, with stocks able to support the production of batteries for at least 18 years, while total investment has already exceeded 783m euros.
Europe is well aware that, despite its great tradition in the car industry, it is still heavily dependent on Asia and China in particular. raw materials and their processing for electric car batteries. That is why in recent years it has sought ways of gaining greater self-sufficiency, restricting its dependence on third countries and strengthening its competitiveness in an area that will determine the future of motor traffic.
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This is one of the most important investments that have been made so far on European territory, Finland is now at the heart of developments.
More specifically, mining operations have begun at the Syväjärvi mine, in western Finland. This is a project implemented by Keliber, which officially started the mine operation with the first controlled explosions to reveal the rock containing soposumene, the basic lithium mineral.
More than 150 employees are already employed on the site, while hundreds more are involved in parallel infrastructure and construction projects. With the full development of the project, it is estimated that some 350 permanent jobs will be created, strengthening the local economy significantly.
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At the same time, further work takes place in the wider region, since the Finnish model is not limited to mining. In particular, in Kokkola they are at an advanced stage work on the construction of a state-of-the-art refinery, where the ore will be converted into lithium hydroxide, the critical chemical compound required for modern batteries.
At the same time, the rocks will be crushed and enriched in a separate unit in the Päiväneva area before being transferred for final treatment. The strategy chosen envisages a gradual increase in production, with the aim of reducing the technical and economic risk involved in such an ambitious project.
In this context, Finland is expected to become the first country of the Old Continent to set in full operation an integrated lithium supply chain, from underground to final treatment for electric vehicle batteries.
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The total area of deposits in the region estimated at around 500 square kilometres, while further six mining sites are planned in the wider region. In fact, a new drilling programme was recently announced just 1.5 kilometres from the existing deposits, indicating that stocks may be significantly larger than initial estimates.
At the same time, support for the project continues at an unabated pace. The main shareholders decided on a new funding of EUR 200 million, and the contribution of the European Investment Bank, which participates with additional funds, is important. Overall, the construction of the mine and processing facilities has so far absorbed approximately EUR 783 million, making it one of the largest industrial projects related to electric drive in Europe.
According to estimates, the annual production of lithium hydroxide will reach 15,000 tonnes, while available stocks are estimated to be able to or support the supply of batteries for at least 18 years.
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The final product will be available manufacturers of energy storage systems and batteries for electric vehicles, strengthening the strategic autonomy of the continent and effectively launching Europe's effort to build its own independent course in the battery sector.
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