Terrafame has decided to start recovering natural uranium by the summer of 2024 at the latest.
The company has carried out the investigation related to recovery.
Terrafame says that the production process enables the utilization of small concentrations of natural uranium in the ore as a by-product.
The company’s factory site has a uranium recovery facility, and Terrafame has started work to bring the factory to operational readiness. The preparatory work requires a total investment of around 20 million euros.
> Recovered uranium is shipped from Terrafame abroad for further processing, after which it is used in the production of nuclear energy, CEO Joni Lukkaroinen says.
When the production facility operates at full capacity, the company’s uranium production will be approximately 200 tons per year. They intend to continue the uranium production in conjunction with the production of other metals throughout the entire operating period, which is at least the next 30 years.
> Terrafame’s utilization of natural uranium in energy production supports the achievement of climate goals, because nuclear power does not cause carbon dioxide emissions in the production process. As an energy source, nuclear energy is stable, Lukkaroinen sums up.
Lukkaroinen says that Terrafame is the only uranium recovery company in Europe.
Uranium recovery will increase Terrafame’s turnover after the ramp-up phase of the production facility on an annual basis, based on the current market price of uranium, by approximately EUR 25 million, which is a few percent of Terrafame’s estimated turnover in the coming years.
Recovery will employ around 40 people after the start of operations.
In 2020, the Finnish government granted Terrafame the license referred to in the Nuclear Energy Act, which entitles it to recover uranium from the ore obtained from the Sotkamo mine. The decision is legally binding with the decision issued by the Supreme Administrative Court in June 2021.
Before starting the operation, the Radiation Protection Center ensures the readiness for starting the operation in accordance with the Nuclear Energy Act.
> If you look at it from the point of view of energy production, it (starting uranium recovery) is important in Finland and Europe and thus it is important for us. It enables new jobs and a little more turnover, Lukkaroinen sums up.
2 comments
Translation:
Terrafame has decided to start recovering natural uranium by the summer of 2024 at the latest.
The company has carried out the investigation related to recovery.
Terrafame says that the production process enables the utilization of small concentrations of natural uranium in the ore as a by-product.
The company’s factory site has a uranium recovery facility, and Terrafame has started work to bring the factory to operational readiness. The preparatory work requires a total investment of around 20 million euros.
> Recovered uranium is shipped from Terrafame abroad for further processing, after which it is used in the production of nuclear energy, CEO Joni Lukkaroinen says.
When the production facility operates at full capacity, the company’s uranium production will be approximately 200 tons per year. They intend to continue the uranium production in conjunction with the production of other metals throughout the entire operating period, which is at least the next 30 years.
> Terrafame’s utilization of natural uranium in energy production supports the achievement of climate goals, because nuclear power does not cause carbon dioxide emissions in the production process. As an energy source, nuclear energy is stable, Lukkaroinen sums up.
Lukkaroinen says that Terrafame is the only uranium recovery company in Europe.
Uranium recovery will increase Terrafame’s turnover after the ramp-up phase of the production facility on an annual basis, based on the current market price of uranium, by approximately EUR 25 million, which is a few percent of Terrafame’s estimated turnover in the coming years.
Recovery will employ around 40 people after the start of operations.
In 2020, the Finnish government granted Terrafame the license referred to in the Nuclear Energy Act, which entitles it to recover uranium from the ore obtained from the Sotkamo mine. The decision is legally binding with the decision issued by the Supreme Administrative Court in June 2021.
Before starting the operation, the Radiation Protection Center ensures the readiness for starting the operation in accordance with the Nuclear Energy Act.
> If you look at it from the point of view of energy production, it (starting uranium recovery) is important in Finland and Europe and thus it is important for us. It enables new jobs and a little more turnover, Lukkaroinen sums up.
Uranium is a possible by-product in the mining of various metals and minerals. It seems that in this case it’s a nickel ore they’re mining? Seems like the company mainly makes nickel and cobalt sulphates for batteries. [Original press release is here(and it’s in English).](https://www.terrafame.com/newsroom/media-releases/terrafame-to-start-uranium-recovery-by-the-summer-of-2024.html)