The Finnish government agreed on Thursday that the state-owned Terrafame will extract and refine uranium in eastern part of the country
As such, Finland will become the EU’s only uranium producer.
Terrafame will produce uranium in Kainuu region, where nickel and other metals mines for batteries production are placed already. The state-owned company took the mine over in 2015, when environmental restrictions had led former mine owner Talvivaara to bankruptcy.
Talvivaara had invested around €75 million to the uranium plant. Terrafame representatives expect that further investment of €10 million will be necessary, and operating could star in a year. Yet, operating may be postponed in one more year in case an appeal is launched to the Government’s Decision.
The Finnish Association for Nature Conservation already announced it planned to do such a step. “Based on the nuclear energy act, there are no reasons to grant a permission as the mine’s waste solution is not safe for the environment nor long-term environmental security is ensured,” the organization officially stated.
Terrafame plans to export uranium for processing it into nuclear fuel to countries approved by the International Atomic Energy Agency as there is no production facilities in Finland.