In 2017, Trafigura invested in Terrafame, a mine in northern Finland that had been under government control following years of losses and production problems.
From the start, we believed Terrafame had the potential to become a world class asset, but only if it focused on supplying nickel for electric vehicle batteries.
This led us to provide over EUR 500 million of financial support for the development of a battery chemicals plant.
Our involvement did not stop at funding. Equally important was our commercial and technical expertise that helped guide the development of the plant.
Today, Terrafame is a leading supplier of nickel sulphate which boasts a carbon footprint 60 per cent lower than the industry average due to its innovate bio-leching process.
Its location in Finland means Terrafame is ideally placed to play a pivotal role in Europe’s growing electric vehicle market.
Once at full capacity, the battery chemical plant will be capable of producing enough low-carbon nickel sulphate to supply the batteries for 1 million electric vehicles.