Finland already processing 13% of the world's cobalt

Finland is already processing 13 percent of the world's cobalt - In the near future, cobalt's domestic production may also grow
May 11 2018

Kokkola, Central Ostrobothnia and Harjavalta, Satakunta is already processing 13 percent of the world's cobalt. Cobalt production has so far not been significant in Finland. Now that the price of cobalt has tripled in three years, cobalt deposits in Finland's bedrock are of interest to mining companies far more than before.

- Certainly, in the near future, there will be many new cobalt mines across the globe. There is potential. In the future, production may be much higher than the present, says Pekka Nurmi, Director of Scientific Research at the Geological Survey of Finland.

Finland is currently the largest producer of cobalt in the EU. In addition to Finland, only Poland will produce cobalt in the coming years.

Finland is already a major player in the processing of cobalt. Ten percent of the world's cobalt is processed at the US Freeport Cobalt mill in Kokkola and three percent at the Russian Norilsk Nickel nickel mill in Harjavalta.

-Finland has great chances to get the whole production chain.

The need for cobalt will only grow in the years to come, because cobalt is needed, for example, in electric vehicles batteries.

"It is foreseen that by 2025, the need for batteries will double, and perhaps already in 2030, a third of the cars can be electric cars," says Nurmi.

The growing need for cobalt is more related to the phenomenon of urbanization in the world. It is estimated that by 2050 cities already have 6.4 billion people, almost half more than today.

Cobalt is now 95% obtained as a by-product of other ore, such as copper and nickel. Finland's largest known cobalt site is in the Terrafame mine in Talvivaara, Sotkamo, where cobalt is a by-product. Terrafame also produces nickel, zinc and copper.

-Terrafame plant has 300,000 tons of cobalt. It corresponds to three times the world's cobalt production.

It is, however, 50 years before it can be extracted, so the annual output will be small. The Boliden's nickel copper mine in Kevitsa in Sodankylä is the second largest cobalt mine, and the Boliden's Kylylahti mine in Polvijärvi is the fourth largest. Kylylahti cobalt is not further processed from concentrate to metal, but cobalt-nickel and sulfur concentrates are stored.

The second largest occurrence is Sakatti in Sodankylä, where there is still no mining activity.

- In the best view, in the best case, the cobalt production in Finland could reach about three percent of world production, Nurmi says.

Original in Finnish: https://www.pohjalainen.fi/uutiset/kotimaa/suomi-jalostaa-jo-13-prosenttia-maailman-koboltista-lähitulevaisuudessa-myös-koboltin-kotimainen-tuotanto-voi-kasvaa-1.2619527