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Hamina pCAM project

pCAM mallinnus

 

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Finnish Minerals Group is now the sole owner of CNGR Finland


CNGR Advanced Material Ltd has decided to withdraw from the planned precursor cathode active material (pCAM) plant project in Hamina, Finland. As a result, Finnish Minerals Group  has acquired the entire share capital of CNGR Finland. Finnish Minerals Group previously held a 40 % minority stake in the company.

The decision stems from the globally challenging market situation for precursor materials used in lithium-ion battery production. The general market situation for lithium-ion batteries is reflected in planned investment projects in Europe, forcing companies to adapt.

Finnish Minerals Group is now taking time to review the preconditions for continuing the project on a different basis.

In February 2024, CNGR Finland received an environmental permit for the plant that is planned for the Hamina deep-sea port. Appeals against the permit are still pending in the Vaasa Administrative Court, with a decision expected during spring 2025.


For further information, please contact Finnish Minerals Group.

Finnish Minerals Group
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