Sokli phosphate, iron, REE & niobium scoping study (PEA)
When you look at a multi-element carbonatite like Sokli, you are not just evaluating one commodity. You are trying to understand how phosphate, iron, rare earth elements (REE) and niobium can work together in one project that fits EU critical raw materials needs and modern ESG expectations. Finnish Minerals Group initiated a Scoping Study / Preliminary Economic Assessment (PEA) for the Sokli Mining Project in Savukoski, Finland. The goal was to assess mining, processing and raw-material handling options for this strategic deposit in a Tier 1 jurisdiction close to the European EV and fertiliser markets.
Client & context
In December 2020, Finnish Minerals Group acquired 100% of the Sokli Mining Project mineral rights in Savukoski, northern Finland. Sokli is a magmatic carbonatite complex containing:
- Phosphate
- Iron ore
- Rare earth elements (REE)
- Niobium
- Other critical and strategic elements
The central carbonatite core and surrounding fenite ring form a circular geological system of more than 50 km² with elevated concentrations of several raw materials that are important for Europe’s green transition and long-term self-sufficiency.
At Scoping Study level, you need a coherent view of how mining, processing and logistics can turn this multi-commodity potential into a viable project.
Challenge
If you are responsible for a project like Sokli, you face several questions:
- How do you evaluate a multi-element brownfield deposit where earlier studies focused mainly on phosphate and iron ore?
- How do you bring REE and niobium properly into the picture while still keeping the study at PEA level?
- How do you make sure the technical work lines up with EU critical raw materials policy and expectations on responsible mining?
- How do you coordinate a multi-disciplinary team over roughly 18 months and still end up with one clear story?
In practice, you want a Scoping Study / PEA that:
- Looks at mining and raw-material handling holistically, not in silos
- Is prepared in accordance with the JORC Code (2012)
- Gives you a realistic basis for deciding what to study next
Approach
On Sokli, the updated Scoping Study / PEA was set up to give Finnish Minerals Group this integrated view.
Integrated multi-commodity view
Instead of treating phosphate, iron, REE and niobium as separate projects, the study looked at how these elements interact within one carbonatite system:
- Mining options and pit / underground concepts that respect the geometry of the carbonatite and fenite units
- Processing and raw-material handling routes that recognise different product streams and markets
- A framework that fits within EU critical raw materials thinking and long-term Finnish raw-materials strategy
Scoping-level technical and economic work
At PEA level, you need enough detail to make decisions without pretending you know everything. The study therefore focused on:
- Mining production concepts (open pit and potential underground)
- Materials handling and logistics in a northern Finnish context
- Project economics at Scoping Study level under JORC (2012)
Responsible-mining and profitability lens
Earlier technical work on Sokli was mainly phosphate and iron oriented. The updated Scoping Study looked more broadly at:
- Profitability across multiple commodities
- Environmental and social constraints and expectations
- How Sokli could support EU climate and resource-security goals if developed responsibly
Results & value
From this Scoping Study / PEA, Finnish Minerals Group gained:
- An updated Scoping Study / PEA Technical Report for a critical multi-element deposit, prepared in line with the JORC Code (2012) and EU critical raw materials perspective
- A clearer technical and economic basis for decisions on mining, processing and raw-material handling options for phosphate, iron, REE and niobium
- A better understanding of how Sokli could contribute a meaningful share of Europe’s future REE and phosphate needs, supporting both fertiliser and clean-energy supply chains
- A project advanced within agreed timeframes, ready for the next round of resource, technical and environmental work
For you, this type of work shows what a Scoping Study can do when it is set up to handle multi-commodity complexity instead of avoiding it.
Services used on this project
- Mining project management
- Business development support for a strategic EU raw-materials project
- Mine simulation and productivity optimisation concepts
- Resource estimation and geological modelling input
- Mine planning and engineering (open pit and potential underground)
Working on a similar project?
If you are evaluating a multi-element or critical raw materials project and need scoping-level support that brings geology, mine planning and economics together, you can turn to Gosselin Mining. You get a clear, practical Scoping Study / PEA that gives you a solid basis for your next decision.
If you are evaluating a multi-element or critical raw materials project and need scoping-level support that brings geology, mine planning and economics together, you can turn to Gosselin Mining. You get a clear, practical Scoping Study / PEA that gives you a solid basis for your next decision.
