Terrafame Ltd

Terrafame Ltd

Terrafame Ltd is a multi-metal company producing nickel, zinc, cobalt and copper at its mine and metals production plant located in Sotkamo, Finland. Our aim is to conduct environmentally sustainable, safe and profitable operations.

Strategic roadmap

Our mission is to build a sustainable world through high-quality metal products. To accomplish our mission we will take full advantage of our unique assets – extensive mineral resources and the bioleaching method. All our operations are based on Terrafame’s three cornerstones: safety, efficiency and commitment.

Our vision is to be a multi-metal company among our top peers, measured by cost-efficiency. Thanks to the bioheapleaching method, Terrafame provides high-quality and low carbon footprint products to global markets.

In 2018 we will continue ramping up production and stabilising operations. Our objective is to recover the metals as accurately and cost-efficiently as possible. Furthermore we are planning the further processing of our main product, nickel-cobalt, to be used in electric vehicle batteries.


We are committed to good governance in our business operations. In addition to laws and regulations, we are guided by the cornerstones of our operations – safety, efficiency and commitment – as well as our operating principles.

Terrafame's decision-making complies with the Articles of Association, the Finnish Limited Liability Companies Act and other legislation in force. We also comply with the Finnish Corporate Governance Code for listed companies as applicable.


In 2018, we increased our production volumes and strongly developed our operations. Our net sales more than doubled from the previous year to EUR 325.8 euros. Also our EBITDA was positive.

Regardless of the price development of metals, mine operations incur costs that are heavily front-loaded.

You can read more about Terrafame’s operations and financial situation in our interim reports in News section.


Terrafame employs approximately 650 skilled professionals. In addition, approximately 630 employees from partner companies work at the site regularly.

The work community is young and the average age of Terrafame employees is approximately 40 years. Over 80% of our employees and the majority of our contractors live in the Kainuu region.

Terrafame team consists of a variety of experts from different occupational groups. The development of their professional skills is an important part of our business. We provide our employees with new opportunities to develop their skills through both education and career and job rotation.

Occupational safety

The safety of personnel is one of the cornerstones of Terrafame's operations. We aim to reduce both our personnel's and the partner companies' accident frequency.

Our managers hold a key position in developing the safety culture. The Management Team and the department representatives participate in regular safety rounds at our industrial site. An additional monthly safety bonus is paid to our personnel, if there have been no accidents leading to absence.

All our operations are guided by two safety principles:

  • Work will be performed safely, or it will not be performed at all.
  • There is always time to do things safely, carefully and by the book.


Terrafame employees and partners companies operating at the industrial site of Terrafame in Sotkamo, Finland must act in compliance with the sustainable development principles of Terrafame. The practical application of the policy is supported by the company’s management system and specific instructions.

In safety, our goal is to ensure a safe and healthy working environment and safe working methods. Our permanent goal is zero accidents. We are also committed to constantly improving our environmental performance, managing of the risks related to our operations and reducing our environmental impacts.

Our operations must always be conducted in a responsible and transparent manner. We inform our employees, partners, neighbours and stakeholders openly and honestly about our mining and production activities and their impacts.

We also aim at profitability and productivity in our operations. This way we are able to offer long-term industrial employment in Kainuu region, thereby improving the well-being in the area.


Terrafame reports its operations in the Annual Report and interim reports. The Annual Reports for 2015–2017 contains also Finnish Minerals Group's predecessor's, Terrafame Group Ltd's, reports of the Board of Directors and the financial statements.

Annual Report 2018
Annual Report 2017
Annual Report 2016
Annual Report 2015