Finnish Government Allows State-Owned Company Terrafame to Mine Uranium

HELSINKI (Pakistan Point News / Sputnik - 06th February, 2020) The Finnish government granted the majority state-owned multimetal company Terrafame Oy the right to mine uranium in the country on a commercial scale, the government's press release said on Thursday.

"On February 6, the government granted Terrafame Oy the permission, mentioned in the Nuclear Energy Act for mining and enriching minerals. The license gives the company the right to extract uranium from mined minerals at the Sotkamo mine," the press release said.

The company will now be able to extract uranium for as long as the Sotkamo mine in eastern Finland is operational, but not after the end of 2050. According to the government, the project will be beneficial both for society and in terms of nuclear safety. Terrafame plans to produce yellowcake a type of uranium used for the production of nuclear fuel.

In June, the Finnish Radiation and Nuclear Safety Authority informed the government that there were no obstacles to authorizing Terrafame to mine uranium at Sotkamo.