Company

Company

Mustavaaran Kaivos Oy (MKOy) is a private company established in 2011. The company owns the mineral rights to the Mustavaara vanadium/iron/titanium deposit in northeastern Finland. MKOy intends to process vanadium containing slag (LD-slag) at its plant planned to be built at the port of Raahe. The construction of the plant is the first step in the company’s mission to re-establish vanadium production in Finland and to subsequently re-open the historic Mustavaara vanadium mine in the municipality of Taivalkoski.

The offices of Mustavaaran Kaivos Oy are located in Oulu. The plant to be built at the port of Raahe will be processing vanadium containing slag from SSAB’s steel plants in Finland (Raahe) and Sweden (Luleå and Oxelösund). The Mustavaara open pit is located in northeastern Finland.

Main shareholders of the company are Tamares Mining Group B.V., Akkerman Exploration B.V. and Ilmarinen Mutual Pension Insurance Company.