Sokli phosphate iron REE niobium scoping study (PEA)

Summary

In December 2020, Finnish Minerals Group acquired 100 % of the Sokli Mining Project mineral rights, located in Savukoski, Finland, a Tier 1 mining juridiction close to the European Electric Vehicle (EV) market. The Sokli deposit contains phosphorus and iron ore but as well Rare Earth Elements.

Sokli is described as a core zone of magmatic carbonatic surrounded by a zone of precursor rocks that have been almost completely transformed into carbonatites, which host multiple commodities such as Rare Earth Elements (REE's), Phosphate, Niobium and Iron Ore.

The carbonatite ring of Sokli opens in front, with an area of approximately 20 square kilometers. The central parts of the massif are of carbonatite rock type, and due to its softness, it is lower in its environment thatn the metamorphic zone surrounding it, the fenite ring. As a whole, the area is a circular geological formation of more than 50 square kilometers in area and contains bedrock with elevated concentration of several different raw materials that are crucial to the green energy transition in Europe.

The objective of the mandate was to undertake a Scoping Study in support of mining production and raw material handling. This PEA study inlcuded was prepared in accordance with JORC Code 2012. Gosselin Mining Preliminary Economic Assessment Technical Report (Scoping Study) for this mineral project that is important for EU.

Our challenges

Multi-disciplinary technical teams over 18-months updating a multi-element brownfield mineral deposit to a Scoping Study level technical report.

Gosselin Mining has recently helped out Finnish Minerals Group with their Sokli Mining Project in mineral resources evaluation and mineral reserves estimation holistically. Previous Sokli's fesibility technical studies have focused on phosphate and iron ore extraction only. Our work has been to further look in details at the profitability study being carried out in accordance with the principles of responsible mining.

Our solutions

Completed an updated Scoping Study / Preliminary Economic Assessment (PEA) Technical Report for this critical multi-element deposit as classify by EU critical raw material list.

Project highlights

Our mining engineer experts recommended both open pit and underground mining methods, mining equipment fleet optimization. We managed this project within the deadline and to the satisfaction of the Finnish Minerals Group.