Critical minerals for the green transition
The Suhanko project is now progressing through Definitive Feasibility Study (DFS) to implementation with construction work expected to commence in 2026.
Suhanko’s polymetallic deposits hold palladium, platinum, copper, nickel, rhodium, cobalt, and gold. These metals are listed in the European Union’s Critical Raw Materials Act and are essential as Europe strives for green energy production, reduced transport emissions, self-sufficiency, and the electrification of societal functions.
Suhanko’s platinum group metal deposit is the largest known deposit in Europe, and it has been systematically studied since 2000.
A previous baseline radiological survey, across the entire Suhanko area, has confirmed there are no indications of uranium that exceed natural background levels. The baseline study has covered the area’s ores, waste rocks, soil, vegetation, fauna, and surface waters. (Final Report issued by Radiation and Nuclear Safety Authority of Finland, STUK)
Rising concerns about the health and environmental impacts of vehicle exhaust emissions have driven the implementation of stricter global emission regulations, sustaining strong demand for platinum group metals. Vehicle manufacturers have responded to these demands by developing more robust catalytic converters, which in turn, require increasing quantities of palladium and platinum. Platinum is an important catalyst for the hydrogen economy. Copper is used for electrifying society, while nickel and cobalt are used for the battery industry.
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 it is expected to generate approximately 1,000 jobs in the area.
Regional geology
The mineral deposits containing platinum group metals in Suhanko, Narkaus and Penikat, are associated with the 2.44Ga aged layered mafic intrusion formations. The layered intrusive rocks in the area have intruded near the interface between the Archaean basement and an ancient Paleoproterozoic cover, which are exposed along or close to the erosional contact between the Archaean basement complex and the Peräpohja Paleoproterozoic schist belt.
Project geology
The polymetallic deposits at Suhanko contain significant amounts of palladium, platinum, copper, gold, nickel, rhodium and cobalt. The contact type mineralisation occurs in both the marginal series of the layered intrusion and directly below it in the granitoids and gneisses of the Archaean basement complex. The Suhanko deposits are large and occur at shallow depths. Estimated resources for potential open pit mining generally have mineralised zones ranging from 10 to 60 metres thick, and extend along strike from 900 metres (Konttijärvi) to 2,600 metres (Suhanko North). The basal contact zone of the Suhanko intrusion is very widely mineralised and the parts reaching the bedrock surface continue for over several kilometres of strike length below thin overburden.
In Suhanko, the platinum group metals occur together with sulphide minerals containing copper, nickel and iron. This means that they can be easily recovered through conventional sulphide flotation processes. Analogous geological deposits are found in South Africa, Canada and Russia.
Over 500 kilometres of diamond drilling has been completed to define the deposits of the Suhanko, Narkaus and Penikat areas.
Project status
Technical studies at Suhanko are at an advanced stage. Positive results have been achieved both in the mine planning and in the beneficiation testing of ores by flotation method.
The mining project has been defined in the land use plans both regionally and locally. An approved environmental impact assessment (EIA) and a Natura 2000 assessment have been completed for the extended Suhanko mining project area which also includes the Suhanko North deposit.
The area has a valid mining concession and an existing environmental and water management permit which is being amended to incorporate all changes in current legislation, environmental obligations, and the best available technologies (BAT).
Mineral resources
The Suhanko project is a significant mining project expected to support long-term mining operations. Mineral resource estimates for three major open-pit Suhanko deposits were updated for the 2020 Pre-Feasibility Study in accordance with the CIM Standards on reporting mineral resources and reserves.
