The GraveYard Shift

[JD400]

Suhanko Arctic Platinum Oy

The mining project is operated by Suhanko Arctic Platinum

Finland is an important mining jurisdiction in the EU due to its significant metal endowments. With Suhanko, Finland may become the largest producer of palladium and platinum within the EU. There are still opportunities to find many vital minerals in the bedrock of Finland and Fennoscandia.

During the last century, Finland has developed world-class research and industrial expertise in the mining sector, with equipment and technology companies operating in the global market. It makes sense to produce mining products in Finland, where good occupational safety and environmental technology are further developed.

Suhanko Arctic Platinum Oy is the operator and the holder of all permits and assets for the project. The company is a wholly owned Finnish subsidiary of CD Capital Natural Resources Fund III L.P. The parent company of SAP is managed by the UK-based private equity company CD Capital Asset Management Ltd (CD Capital).

CD Capital has been backed by long-term capital predominantly from US-based endowments and foundations, allowing it to invest in mining projects for the long-term worldwide.

When developing the mining project, in addition to its own personnel, SAP will utilise the broad experience of CD Capital’s technical team, who have extensive experience in the development of mining projects. If necessary, SAP will hire additional employees and utilise subcontractors to further bolster its expertise.

The Suhanko mining project is one part of the Suhanko Arctic Platinum project, which was previously owned by the South African company Gold Fields Ltd via its Finnish subsidiary Gold Fields Arctic Platinum Oy (GFAP). Following the agreement made on January 23, 2018, all of the project assets of GFAP, including all exploration data and results, project permits, expertise and employees, were transferred to SAP.

The Suhanko Project could be the next mining operation to be implemented in Finland

The Suhanko project has been under development over a long period of time. Now the mine is progressing through feasibility studies to implementation. Suhanko Arctic Platinum Oy intends to commence the construction work by 2023.

A significant reason for the realisation of the Suhanko mining project is the increasing demand for palladium. The Suhanko palladium deposit is the largest of its kind in Europe, and has been studied closely since the year 2000. There are also other important metals in the Suhanko deposits, including platinum, copper, nickel and gold, but palladium is the most significant. These other elements are critical for the continued drive towards clean renewable sources of power.

The demand for palladium is increased by growing concerns about the harmful effects on health and the environment caused by exhaust emissions from vehicles, which have led to tighter emission regulations globally. Car manufacturers have answered these demands by developing more efficient catalytic converters, which, in turn, require increasing quantities of palladium and platinum in them.

When operational, the mine would employ directly around 400 employees, and it is expected to remain in operation for over 20 years. The construction of the mine should take two to three years, during which period it is expected to generate approximately 1,000 jobs in the area.


Timeline of the project

Completed Steps

Preliminary Economic Assessment (PEA) completed in 2019

Pre-Feasibility Study to be completed in December 2020

Future Steps

Definitive Feasibility Study planned to commence in 2021

Access Road permit renewal commencing in 2020: An important aspect for project progress is the construction of a connecting road of around 11 kilometres from the main highway 78 (Rovaniemi-Ranua) to the mining area.

Updating the environmental and water management permits planned to commence in 2021 after starting the Definitive Feasibility Study

Construction works – objective to commence in 2023

The current objective is to commence mining operations and production in 2025 subject to change based on the progress of the steps towards operations
.
.
.
............

https://www.suhanko.com/who

https://www.cd-capital.com/
.
.
..............................