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 smelter planned to be built at the port of Raahe. The construction of the smelter 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.


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



Company brochure