There are major deposits of precious and green transition metals in the Suhanko area of the Ranua Municipality that have been studied for several decades. A modern mining project is currently being planned in the area, with construction work expected to begin in 2026.

Suhanko Arctic Platinum Oy is the developer of the project and its goals include the creation of a modern mine with sustainable operations. It is an important objective to minimise the social and environmental impacts of the project by seeking to utilise the latest technology and by working in close cooperation with all stakeholders.

Suhanko’s polymetallic deposits hold palladium, platinum, copper, nickel, rhodium, cobalt, and gold. This collection of minerals forms a ‘basket’ of critical green energy metals for the battery technology, hydrogen economy, and energy transition requirements for Europe. Suhanko’s metals are listed in the European Union’s Critical Raw Materials Act (CRMA).

The deposits are located in Ranua, Southern Lapland, close to the border of the Municipality of Tervola, 45 kilometres south of the town of Rovaniemi.