Trafigura building stake in Europe's battery nickel future

Finland is building up Europe's next stage of battery metal evolution with Terrafame’s new battery chemical plant, and trading house Trafigura is squarely in the mix.

With Terrafame, Finland's government has resurrected the assets of formerly defunct Talvivaara Mining, and is shaping up to bring about the world's largest nickel sulfate plant early next year.
Having initially invested in Terrafame back in 2017, Trafigura has been growing its stake over time through two tranches of equity-linked financing provided by its Galena Asset Management arm, all with material offtake facilities attached.
At present, Galena would hold 44.3% of Terrafame if all its options were exercised, almost treble its initial position. 
Terrafame’s new battery chemical plant will come online by the end of the first quarter of 2021 and with a nickel sulfate production capacity of 170,000 tonnes per year, will effectively double global supply of the preferential battery-grade material.

“We no longer talk of ourselves as a nickel producer or the biggest nickel mine in Europe. Our purpose statement has changed in line...

Published

Archie Hunter

Amy Hinton

October 12, 2020

13:58 GMT

London