Change in Board of Directors of Terrafame Ltd

Terrafame Ltd’s Annual General Meeting on 20 March 2024 decided to elect Peter Schuhmacher, 58, PhD in Chemistry, as a new member of the Board of Directors. Peter has been the president of BASF’s Battery Materials and Recycling and Catalysts Division until the end of December 2023. He is independent of the company and its major shareholders.

The General Meeting confirmed the number of the Board members as seven persons. Tuomo Mäkelä, who has been a member of the Board of Directors from 2015, had announced, that he will no longer be available as a member of the Board. Lauri Ratia (Chair of the Board), Matti Hietanen (Vice Chair), Jesus Fernandez, Julian Sanchez, Jyrki Vainionpää and Riitta Mynttinen were re-elected as the members of the Board.

“I would like to thank Tuomo for his invaluable contributions as a highly regarded mining specialist with global view and welcome our new member, Peter, to Terrafame's Board of Directors," says Lauri Ratia, Chair of Terrafame's Board of Directors.

For futher information, please contact:

Lauri Ratia, Chair of the Board of Directors, Terrafame Ltd, tel. +358 50 2922

Terrafame enhances low-carbon mobility by delivering responsibly produced battery chemicals to the global battery industry. One of the world’s largest production lines for chemicals used in electric vehicle batteries is located on Terrafame’s industrial site. The plant is capable of producing nickel sulphate for around 1 million EVs per year. The carbon footprint of the nickel sulphate produced by Terrafame is among the smallest in the industry.

Terrafame’s integrated, unique and energy-efficient production process from the mine to battery chemicals is located on a single industrial site. It provides customers with a transparent, traceable and truly European battery chemical supply chain.

Terrafame Ltd was founded in 2015. Its net sales in 2023 were EUR 560.9 million. Around 1,900 people work on its industrial site, slightly over half of whom are employees of partner companies.