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Terrafame

Website: www.terrafame.fi

Terrafame Group Ltd. (TERRA) is an owner company of Terrafame Ltd. which is a multi-metal companyproducing primarily nickel and zinc by bioheapleaching at its mine located in Sotkamo, Finland. In August2015, Terrafame acquired the business operations and assets of Talvivaara Sotkamo Ltd. from its bankruptcyestate and is now carrying on the mining operations in Sotkamo.Terrafame’s objective is environmentally-sustainable, safe and economically-viable mining operations. Thegoal is to achieve a positive cash flow during 2018. The ramp-up of the Terrafame mine in 2015 and 2016has proceeded even better than planned. In 2016, the net sales of Terrafame Ltd. from metal productdeliveries were €100.8 million. Regardless of the price development of metals, mine operations incur coststhat are heavily front-loaded, especially during the first year of ramp-up. In January-December 2016,EBITDA amounted to €120.4 million. During the time period, a total of 9,554 tonnes of nickel and 22,575tonnes of zinc were produced. During the year 2016, the investment expenditure was €84.3 million.Terrafame employs approximately 650 skilled professionals. In addition, 550 employees from excavationcontractors and other partner companies work at the mine regularly.