MINEX Forum

Tag: Finland

  • Avrupa Minerals Closes $350,000 Private Placement to Fund Exploration Projects

    Avrupa Minerals Closes $350,000 Private Placement to Fund Exploration Projects

    Avrupa Minerals Ltd. has successfully closed a private placement as announced in mid-August, raising $350,000 through the sale of 10,000,000 Units at $0.035 per Unit. Each Unit consists of one common share and one common share purchase warrant, which allows the holder to purchase an additional share at $0.10 until September 5, 2027. The warrants are non-transferable, and all securities issued are subject to a four-month hold period ending on January 6, 2025. No finders’ fees were paid.

     

    A director of the company acquired 371,429 Units, making this transaction a related party transaction under TSX Venture Exchange policies. However, the company relied on exemptions under Multilateral Instrument 61-101 (MI 61-101) since the transaction value did not exceed 25% of the company’s market capitalization.

    The proceeds from this placement will primarily be used for drilling and exploration programs in Finland, ongoing operations in Portugal and Kosovo, and for general corporate purposes. None of the funds will be used for investor relations or paid to non-arms-length parties. Avrupa Minerals, a junior exploration company, focuses on mineral discovery in politically stable regions of Europe, with projects in Portugal, Finland, and Kosovo.

  • European Energy Metals Expands Exploration in Finland, Targeting Lithium-Rich Pegmatites

    European Energy Metals Expands Exploration in Finland, Targeting Lithium-Rich Pegmatites

    European Energy Metals (TSXV: FIN) has announced a significant expansion of its exploration efforts in Finland, applying for five new exploration licences (ELs) in the Kaustinen region. The applications cover an area of approximately 102 square kilometers, known for its high potential for lithium-cesium-tantalum (LCT) pegmatites. This expansion will increase the company’s total licensed holdings to 157.7 square kilometers, augmenting its existing Nabba and Nabba 2 licences.

    These newly applied licences are largely contiguous with those held by Sibanye-Stillwater at the Keliber project, which is renowned for its LCT spodumene-pegmatite deposits. Keliber’s resources are estimated at approximately 17 million tonnes, with a grade of 1% Li2O (lithium oxide). Sibanye-Stillwater, a South African mining group, is investing up to €600 million in partnership with the Finnish Minerals Group to build a comprehensive lithium supply chain complex in the area, with production expected to commence in the second half of 2025.

    European Energy Metals’ newly expanded concessions are strategically located within 1 kilometer of some of the known lithium-rich spodumene-pegmatite deposits at Keliber and Sibanye’s proposed spodumene concentrator plant. The company is currently conducting a field program on these concessions, following up on its successful 2023 exploration program. During that program, the team discovered multiple occurrences of lithium-bearing pegmatite mineralization, particularly at the Kyrola prospect, where rock chip grab samples returned assays of up to 3.84% Li2O.

    CEO Jeremy Poirier expressed optimism about the expanded exploration efforts, stating that the additional licences would allow for more thorough testing and definition of the subsurface mineralization identified on the surface. The 2024 exploration program is designed to advance these projects to a drill definition stage, with a focus on areas with significant proximity to known deposits and the soon-to-be operational lithium concentrator.

  • Rupert Resources Offers to Acquire B2Gold’s Stake in Finnish Gold Exploration

    Rupert Resources Offers to Acquire B2Gold’s Stake in Finnish Gold Exploration

    Aurion Resources (TSXV: AU) received notification from its joint venture partner, B2Gold (TSX: BTO), regarding an acquisition offer for B2Gold’s 70% interest in their gold exploration JV focused on the Central Lapland greenstone belt in northern Finland. The offer, extended by Rupert Resources (TSX: RUP), aligns with Rupert’s exploration efforts in the same region, particularly centered around its Rupert Lapland project, home to the significant Ikkari discovery. This proposition entails issuing roughly 28.6 million shares to B2Gold, valuing the transaction at approximately C$102.8 million ($76 million) based on Rupert’s share price as of March 8, 2024. Rupert’s stock, however, observed a 1.1% decline to C$3.55 by midday Monday, despite confirming preliminary discussions with B2Gold. The potential acquisition would expand Rupert’s exploration targets, encompassing 293 sq. km. of the Sirkka shear zone, including the Helmi discovery and the Kutuvuoma prospect. With a right of first refusal per a 2019 shareholders agreement, Aurion has until May 9, 2024, to decide on its course of action regarding the proposed sale by B2Gold. The transaction remains contingent upon final agreements, due diligence completion, and regulatory green lights. Simultaneously, Aurion’s stock experienced a notable surge of 11.5% to C$0.58 per share on Monday, elevating the company’s market capitalization to C$76.8 million ($57 million).

  • Teako Minerals announces strategic pivot with Norway as key focus

    Teako Minerals announces strategic pivot with Norway as key focus

    TEAKO MINERALS CORP. (the “Company” or “Teako“) announces that following a recent Norwegian parliament meeting and the various developments in mineral exploration in Fennoscandia in recent years, the Company has decided to pause exploration efforts in British Columbia, to primarily concentrate on Norway, while also maintaining a minor focus on Finland. The majority of the Company’s projects in British Columbia are in good standing for 2-3 years, allowing the Company the strategic flexibility to explore various alternatives, including the potential of partnering with other parties or selling the projects, as part of its ongoing commitment to maximizing shareholder value. Investors will be regularly informed of developments, ensuring transparency and continuous engagement with our valued stakeholders.

    The primary targeted metals in Norway will be copper, cobalt, and base metals, as well as gold and rare earth minerals (or “REE”), while in Finland, the focus will be on gold.

    The Rationale Behind the Pivot

    Access to critical and battery metals is crucial to establishing a robust value chain in Europe and carrying out the green shift. Today, most of the battery metals, such as nickel, cobalt, and lithium, are produced outside Europe, often in countries with low ESG standards. The EU has introduced a goal that 10% of all critical minerals consumed in the EU in 2030 will need to be produced in the EU by 2030. This means that the production of battery metals within the EU must be dramatically increased to attain this goal.

    Oil and gas have been the primary contributors to Norway’s recent sovereign wealth. However, in alignment with the green shift and rising commodity prices, the mineral exploration industry and Government are keen on reviving the mining and exploration sector, which became dormant in the 1970s due to low commodity prices and the discovery of oil and gas.

    The bedrock in Norway is promising for discoveries of new occurrences of battery and critical metals with its rich history of mining copper, nickel, and cobalt. Only a handful of exploration companies have carried out systematic exploration since the late 1980s; however, multiple major mines are about to open/reopen very shortly, namely the REE mines of Engebø and Fensfelt, as well as the copper mine in Finnmark by Nussir.

    Norway is currently also a world leader in renewable energy production, with an estimated 92% of the country’s energy supply being derived from hydroelectric plants and a further 6% from wind energy and other renewable sources.

    More recently, the Company was invited to attend and contribute to an event at the Norwegian Parliament held on January 16, 2024. The event focussed on sustainable exploration and extraction of critical metals, bringing together a diverse group of experts and industry leaders to discuss establishing Norway’s pivotal role in the European battery and critical minerals supply chain.

    The event surrounded a cross-political specialist seminar with representatives and advisors in the energy and environment committee, the finance committee, the industry committee, mining companies, politicians, and various organizations. The event was followed by a networking gathering where Teako and another Service Alliance partner, Kuniko Limited, and Norsk Bergindustri, met.

    The Company would like to express its profound gratitude to the Norwegian Parliament for the opportunity to contribute to the discussions on the development of Norway’s critical mineral infrastructure. We also sincerely thank Norsk Bergindustri and our Service Alliance partner, Kuniko Limited, for hosting the networking gathering.

  • Agnico operating permit restored for Kittila mine in Finland

    Agnico operating permit restored for Kittila mine in Finland

    Canadian gold miner Agnico Eagle confirmed on Friday that its operating permit for the Kittila mine in Finland remains valid despite appeals for reconsideration, and, as a result, the company now expects to reach the upper end of its annual guidance.

    According to a ruling passed down by the Supreme Administrative Court of Finland (SAC), Agnico’s operating permit has been restored to 2 million tonnes per annum, which the company has been operating at for the first nine months of 2023.

    Maintaining at this annualized mining rate would result in 30,000 oz. of additional production from the Kittila mine in the fourth quarter of 2023, Agnico said.

  • Finland Finds Key Rare Earth Minerals For The First Time

    Finland Finds Key Rare Earth Minerals For The First Time

    Two rare earth minerals have been found in Finland for the first time in what could be a boost to Europe’s supply of critical minerals necessary for the energy transition.

    Finnish Minerals Group said on Monday that Sokli and the Geological Survey of Finland had identified two new minerals, kukharenkoite and cordylite, through mineralogical characterization—the first such deposits identified in the country.

    The recently completed mineralogical analysis was aimed at charting the occurrence of rare earth elements (REE) in minerals.

  • Finland may be site of Anglo’s next greenfield mining project

    Finland may be site of Anglo’s next greenfield mining project

    Sakatti, with its metal concentrations of platinum group metals (PGMs), copper, nickel, cobalt, and others, may be the site of the next greenfield project of diversified Johannesburg- and London-listed mining company Anglo American. Located in central Lapland in Finland, Sakatti’s polymetallic orebody is aligned to the critical minerals priorities of Finland and the European Union (EU). (Also watch attached Creamer Media video.)

    Sakatti is set to be a remotely operated, low-carbon underground mine with an electric mining fleet.

    No reference was made to whether or not that electric mining fleet will be of the battery electric vehicle variety, generally used in underground environments, or the Anglo-developed green hydrogen electrified kind, which is being advanced at the opencast Mogalakwena PGMs operation in South Africa.

    But already stated is that it will use technology and mining methods that create zero waste and enable high degrees of water recycling, an approach which underpinned the environmental impact assessment (EIA).

    Moreover, in developing Sakatti, Anglo intends building on what it has learnt from its development of the Quellaveco copper mine in Peru as well as what it is learning at its current Woodsmith crop nutrients project in the UK – particularly in terms of minimal surface footprint and using technology and innovation to deliver even better sustainability outcomes.

    In the words of Anglo Crop Nutrients CEO Tom McCulley, that means being “out of sight, safe, reliable, and catering to our customers and society’s needs”.

    “I’ve just come back from Sakatti. It’s in a remote part of the world. It’s designed as the next generation of Future Smart mining… contributing to a sustainable supply of critical minerals to support the energy transition in Finland and the EU,” Anglo projects and development director Alison Atkinson told this week’s sustainability performance update, covered by Mining Weekly.

    “I’m pleased to say that the relevant authorities in Finland have approved the EIA. This is a fantastic achievement and a major milestone for the project, reflecting the true collaboration of all involved.

    “We will continue to drill over the season to refine the modern approach we must and will take in developing this mine,” said Atkinson.

    “We will take our time on this early-stage development. Detailed study, not only of the mine itself, but in its implementation and operations will be critical to delivery. After all, it’s the upfront detailed development that sets the foundation of this asset for decades to come.

    “We will also continue to build the project delivery capabilities as the rigour and discipline in executing a high confidence plan well is as fundamental as the support of the stakeholders and neighbours, in addition to those skilled partners we will work with, to construct and implement our plans.

    “Great projects are done brilliantly when that is in place alongside mature design and robust plan.

    “We’re replicating, continually learning, and approving our approach as we go and putting it into practice at scale across the other parts of the portfolio.

    “We believe this is a competitive advantage for us and a fundamental part of our journey to sustainable mining. Delivering on our ambition is crucial as we have to produce the metals and minerals needed for the energy transition and the ongoing economic development in a responsible way, because that is the only way,” Atkinson emphasised.

  • Metso expands into Finland

    Metso expands into Finland

    Metso has modernised its pilot facility at Metso Research Center in Pori, Finland, with expanded capabilities for lithium hydroxide (LiOH) and other battery chemicals process testing. The unique pilot line serves mining and battery industry customers processing battery minerals. In connection with the expansion, Metso has also opened a battery materials precursor (pCAM) pilot plant, available now for customer trials.

    “Pilot run requests for battery minerals like lithium, nickel and cobalt have increased significantly during the last three years. Currently, we are working on several battery black mass recycling and precursor projects and have several lithium and other battery chemicals project pilots on our laboratory schedule,” says Janne Karonen, Director for Hydrometallurgical Research & Development at Metso.

    Process simulations are essential in the piloting phase, supporting process and equipment design, training and plant operation. For this purpose, Metso uses its unique metallurgical digital twin Geminex, which is based on the company’s proprietary HSC-Sim software for predictive process simulations. Pilot plant and real-time plant data enrich the simulation model to accurately predict plant behavior.

    Metso has developed sustainable hard rock lithium soda leaching technologies for 20 years already. The pilot facility expansion it says “complements Metso’s frontrunning piloting capabilities for minerals processing and metals refining, enabling minerals and battery industry customers to have end-to-end testing, piloting services and technology and equipment deliveries from one supplier.”

    Metso’s expertise in battery minerals covers the extraction of lithium from brines and pegmatite ores up to battery-grade lithium salts. These patented processes are designed to meet the needs for high-end lithium-ion battery chemicals production. Metso can provide sustainable technology and equipment for the entire lithium, nickel and cobalt production chain – from the mine to battery materials and black mass recycling – with project scopes ranging from equipment packages to plant deliveries.

     

     

  • The place where no humans will tread for 100,000 years

    The place where no humans will tread for 100,000 years

    In a few years, Finland will begin depositing spent nuclear fuel underground in Onkalo, where it will remain for millennia. Erika Benke describes her experience of visiting the site.
    I’m always upbeat on the way to interviews. To me they’re the most enjoyable part of the storytelling process.

    But this time I feel different. A tour at Onkalo, which lies 450m (1,480ft) below the ground, to see tunnels hewn in the living rock to store highly radioactive waste for 100,000 years, suddenly makes me nervous.

    I’m about to visit the world’s first permanent storage site for spent nuclear fuel.

    As I drive on a near-empty road in southwest Finland, I slow down trying to imagine what this picture-postcard Nordic countryside with huge pine trees would look like in 1,000 years. Or 10,000.

    Will there be any people in the pretty houses dotted around Olkiluoto island? If so, will they speak Finnish? Will they use a language at all? And, most crucially, will they know about the potential danger lurking in the ground under their feet at Onkalo? (Read more about how to communicate a nuclear warning 10,000 years into the future.)

    Spent fuel rods from nuclear power stations are currently kept in temporary storage facilities around the world.

    Finland is the first country implementing what it hopes is a permanent solution. Starting in two or three years, highly radioactive waste will be buried deep in the bedrock at Onkalo, after being encased in cast-iron and copper cylinders and wrapped in bentonite clay.

    I didn’t feel remotely anxious when I spoke to people at Onkalo on the phone. But I feel apprehensive now. It helps that our hosts from Posiva, the company running the site, show us a safety video first. I watch it with fellow visitors, two German TV crews.

    The video hits a tone of sensible down-to-earth pragmatism. Don’t get separated from the group. In an emergency, follow your guide’s instructions. It’s an active construction site so watch out for vehicles and machines. If there’s a fire, follow your guide to the nearest shelter. The video shows a group of people calmly walking into a fire-proof pod with its own oxygen supply. Once inside, their guide hands everybody a bottle of water. It all looks very organised.

    “Have you ever been in an emergency down there?”, I ask one of our guides, Johanna Hansen, research and development coordinator at Posiva.

    “Only one, but it was a false alarm,” she replies with a smile.

    I feel a moment of dread – I’m standing at a spot where, starting from 2025, no human should set foot for 100,000 years

    Next we’re asked to don our safety gear: a bright yellow high-visibility jacket, waterproof boots, a helmet with a visor and a belt with a torch. We’re each handed a small pack containing an escape hood that will protect us from fire-related gases for 15 minutes. I’m relieved to hear that the helmets have a tracking device so people in the control room above the ground will always know where I am in the tunnels.

    With that reassuring thought I walk through the turnstile at a security gate under the blazing midday sun and get into a car. Our guide drives into the service tunnel without hesitation. In a moment, everything turns very dark.

    It takes 15 minutes to drive down to Onkalo’s service station which lies 437m (1,430ft) below the ground. As the 4.5km-long (2.8 mile) tunnel begins to snake down, we see a standard traffic sign for a 20km/h (12mph) speed limit. There are also green signs on the tunnel wall at regular intervals indicating how far we are from the surface.

    No nuclear waste is yet stored at Onkalo – but it is an active building site so required Erika to don safety equipment (Credit: Erika Benke)

    No nuclear waste is yet stored at Onkalo – but it is an active building site so required Erika to don safety equipment (Credit: Erika Benke)

    It’s a lot less scary than I thought it would be. I think what makes me relax is to see that we’re not alone. The tunnel is narrow – it’s for one vehicle – but when we pass a bay, we catch glimpses of trucks and cars. It’s like driving in a busy construction site, just set in a cave.

    We arrive at the service station surprisingly quickly: a spacious, well-lit chamber with crushed stone underfoot. There’s a lot of heavy machinery and a row of large containers filled with construction materials. Two men standing on a cherry picker attached to harnesses are working on ventilation shafts in the ceiling. Two other workers are in conversation over containers surrounded by massive cables.

    It feels oddly normal: people are going about their jobs as if they were in a factory above the ground. It’s a pleasant 14C (57F) and the air is clean: a ventilation system has been installed and there’s no smell of dust or moisture.

    Our guides explain how nuclear waste canisters will arrive at the service area in a lift running straight down from the encapsulation plant on the surface. We can’t see the lift shaft – its construction is still underway. For now, it’s covered by a large door marked with two large red Xs.

    When the spent fuel starts being stored here, canisters will be lowered from this lift landing area further down to a deposition tunnel where they’ll be picked up by robotic vehicles to take them to vertical deposition holes – their final resting places.

    We’re shown a demonstration deposition tunnel. Its entrance is a lot darker than the service area and the floor is uneven and wet, muddy in places. The walls are bare bedrock that glints in the torchlight.

    I realise that I’ve lost a small pink cable that connects my camera to the radio mic and I go back to find it. This is when I feel a moment of dread.

    I’m alone in a dark tunnel where spent nuclear fuel will decay for millennia. I’m standing at a spot where, starting from 2025, no human should set foot for 100,000 years.

    It brings home so clearly how brief our lives are. I fleetingly contemplate how minuscule a part of 100,000 years my own life is.

    I find myself having a flashback from 30 years ago, skiing in the Alps, surrounded by fog so heavy that I didn’t know which way was up or down.

    That was my first powerful glimpse of how fragile we are when facing the power of Earth. Onkalo’s bedrock has given me the second.