Mining multinational Anglo American and Finnish State-owned mining company Finnish Minerals Group have signed a memorandum of understanding (MoU) to explore opportunities to further support the northern European country's battery strategy.

As a Finnish State-owned company with a mandate to foster the Finnish mining and battery industry, Finnish Minerals is a natural potential partner for Anglo American in Finland, the groups say.

Finnish Minerals' main assets are its nickel- and cobalt sulphates-producing subsidiary Terrafame, phosphate and rare earths deposit project Sokli, and a 20% interest in Keliber, which is a battery-grade lithium project aiming to start production in 2025.

Additionally, Finnish Minerals is advancing several greenfield investments further downstream in the battery value chain.

"Finland is a highly attractive investment destination and has a strong heritage in both mining and innovation. We look forward to working with Finnish Minerals, whose mission is to responsibly maximise the value of Finnish minerals, to explore the wealth of opportunities that our agreement could offer," says Anglo American projects and development director Alison Atkinson.

"This agreement further strengthens our commitment to Finland, as well as to our true polymetallic orebody Sakatti project, which is aligned to Finland's and the European Union's critical minerals priorities.

"Sakatti is designed as the next generation of FutureSmart Mining, building on what we have learned in terms of minimal surface footprint and using technology and innovation to deliver ever better environmental and social outcomes, while producing essential raw materials needed to transition to a greener, low-carbon energy future," she comments.

Finland provides a stable and secure source of many of the metals and minerals needed for the world to decarbonise. With an increasing number of countries prioritising sustainable access to responsibly sourced critical raw materials, Finland is well positioned in terms of its natural resources and the country's investment across the entire battery value chain, from mineral extraction to recycling, Finnish Minerals says.

"Exploring joint opportunities with Anglo American is a natural choice for us as they already know the Finnish operational environment. In addition, the company has a long history in mining and is a forerunner in sustainability," adds Finnish Minerals raw materials senior VP Jani Kiuru.

"We believe this collaboration reinforces both parties by combining local and global know-how in sustainability and technological development, thus maximising the value of Finnish minerals responsibly. We see there is a mutual understanding on the vast possibilities and importance of Finnish minerals for the green transition," he says.