Otanmäki Mine has entered into a long-term supply agreement with Betolar covering tailings from the Otanmäki mine area. The agreement grants Betolar exclusive rights to procure and further process approximately 10 million tonnes of titanium-bearing tailings from the area over a period of twenty years.
Titanium and vanadium processed from the tailings are key critical raw materials for the defence industry and security of supply. Betolar’s proprietary technology enables efficient recovery of metals and utilization of sidestreams as circular materials. In addition to its previous patent applications related to metal extraction, the company has filed a new patent application concerning the further processing of titanium.
Under the supply agreement, Betolar will pay EUR 1 million for the exclusivity and commits to purchasing tailings for at least EUR 0.5 million per year, starting from the time when the required permits for commencing operations have been obtained. See the attached press release for more details.
Open the press release (PDF) >
Photo from the signing ceremony. Standing from left to right Hannu Luhtaniemi (Otanmäki Mine), Juha Leppänen (Betolar) and Olli Löytynoja (Otanmäki Mine). Sitting from left to right Anders Dahlblom (Betolar), Tuija Kalpala (Betolar) and Jouko Jylänki (Otanmäki Mine).