Description of the company
Sokli Oy is a project company wholly owned by Finnish Minerals Group (FMG). FMG’s task is to maximize the value of Finnish minerals responsibly. In December 2020, FMG acquired the rights related to the Sokli mining project located in Savukoski in Northern Finland.
The Sokli phosphate deposit was discovered in 1967 and has been studied ever since. The phosphorus contained in phosphate is an important raw material for fertilizer in agriculture, and it is also used as a raw material in the battery industry. In addition to phosphate, the Sokli deposit contains several raw materials needed for the green transition. Sokli’s new mining district is about 5,800 hectares after the ongoing mining district delivery is completed.
Sokli Oy does not conduct ore exploration outside the valid mining district. We are committed to the principles of the Finnish sustainable mining and exploration standards, which are taken into account in the development of operations. The sustainable mining system will be implemented gradually as the project advances towards the permitting phase.
A preliminary study of the Sokli mining project was completed in 2022 and updated through a Scoping Study in 2025. According to the study, Sokli could produce not only phosphate and iron but also rare earth elements, which are essential for renewable energy technologies, electrification, and the green transition. The annual production of rare earth elements from Sokli could supply the needs of approximately 1,500 industrial wind turbines. In addition, Sokli’s phosphate production could support food production for approximately 90 million Europeans annually. The study also confirmed that Sokli is a significant polymetallic deposit and that only a small portion of its mineral potential has been explored to date.
In 2018, the Regional State Administrative Agency granted an environmental and water management permit for mining and beneficiation operations to be carried out in Sokli. In March 2022, the Supreme Administrative Court returned the permit for processing by the Regional State Admini-stration Agency. Since the original permitting process, project plans have evolved and the preliminary study identified matters requiring further investigations. Sokli Oy withdrew the pending permit application in February 2023.
During 2024, Sokli continued drilling within the valid mining concession area and conducted studies and assessments related to the nature and water bodies. Ore pumping tests were carried out to assess the material’s suitability for processing and transportation. Development of beneficiation and further processing methods also continued as part of the project’s technical and economic preparation.
The environmental and water permit process for a pilot-scale test operation was launched in late 2025. The objective of the trial operation is to generate pilot-scale information on potential products, tailings quality, and environmental impacts. Baseline environmental studies have been conducted as part of the work, and the Environmental Impact Assessment (EIA) process for the actual mine development will commence later. The goal is for mine construction to begin in the early 2030s.
Social Responsibility Report
Company in figures
- Production: No mining production
- Total mining: No mining production
- Reported ore reserves: Not reported
- Reported minerals reserves: (Loitso deposit, 24 Oct 2025): Indicated Mineral Resources: 123.2 Mt @ 11.9% P₂O₅, 1,279 ppm Nb₂O₅, 15.3% FeO Inferred Mineral Resources: 54.2 Mt @ 8.1% P₂O₅, 460 ppm Nb₂O₅, 7.5% FeO Additionally: 123.2 Mt @ 0.32% TREO (Total Rare Earth Oxides)
- Year of commencement: Exploration: 1967. Mining operations have not commenced.
- Expected remaining life of the mine: Not yet determined.
- Mining area: Valid mining concession area at end of 2025: 1,199 ha. Mining concession expansion became legally valid on 17 February 2026. Total concession area after expansion: 5,848 ha
- Number of own employees (31.12.): 17
- The main localities of the employees: Espoo and Rovaniemi
- Number of employees of permanent contractors: 13
- Operating profit EBITDA: Not reported
- Paid capital gain tax: Not reported
Information about prospecting
Sokli Oy does not conduct mineral exploration outside the mining concession area.
- Number and area of reservation areas: 0 pc
- Number and area of exploration permit areas: 0 pc
- Number and area of exploration permit applications: 0 pc
- Exploration permits under appeal: 0 pc
- Exploration drilling: 0 km
Environment
| Yes | No | |
|---|---|---|
| Location in a nature reserve* | ||
| Environmental Management System ** | ||
| Environmental impact assessment required (in accordance with the EIA Act) | ||
| Measurements for dust | ||
| Measurements for noise | ||
| Measurements for vibration | ||
| Environmental risk assessment carried out | ||
| Deviations from the environmental permit *** | ||
| Closure plan for the mine | ||
| Plan for the controlled shutdown of the mine in unexpected situations |
- Environmental permit granted: No
- Guarantee in accordance with the Environmental Protection Act: Not applicable
- Financial guarantee in accordance with the mining act in the mining permit area: 80 000 eur
- Financial guarantee in accordance with the mining act in mineral exploration permit area: No exploration activities
Key Figures
- Amount of extractive waste: 0 t
- Utilization of extractive waste: Not applicable
- Fuel consumption: 0,3 GWh
- Other energy consumption: Electricity 0,24 GWh
- Energy consumption target: No target set
- CO2 emissions: 26,2 t (Scope 1 and 2)
- Water consumption: 0
- Discharge of water outside the mining area: 0
- Number of dams in the mining area: 1 (old pilot concentrator dam)
- Endangered species are present in the operational area: kylla
- Use of environmentally hazardous chemicals: Not reported
- Biodiversity actions: The company has an exemption permit for translocation trials of the endangered lettorikko (Saxifraga hirculus) initiated transplantation trials in 2025. Additional biodiversity and environmental studies have also been carried out.
Personnel and security
| Yes | No | |
|---|---|---|
| Staff initiative system | ||
| Performance appraisals concerning the entire personnel | ||
| Staff training plan | ||
| Equality plan | ||
| Employee representation in company administration | ||
| Occupational health and safety management system* | ||
| Occupational safety card for everyone working in the area | ||
| Own rescue unit |
Key Figures
- Average training days: Not reported due to the small number of employees
- Sickness absences (excluding contractors): Not reported due to the small number of employees
- Accident frequency: Sokli Oy: 1, Contractors: 0, LTIFR: 27.2 per million hours worked
- Shift systems in use: Office working hours, Rotational work schedules (Flexible working hours in both models)
- Share of women in the labour force: 24 % Sokli Oy / 51 % Finnish Minerals Group Oy
Impact on the use and livelihoods of nearby areas
Impact on local livelihood:
- Local service providers and job applicants are considered in procurement and recruitment processes whenever possible.
- The planning of mining operations takes into account impacts on reindeer husbandry, water bodies, fish populations, and nature-based tourism in particular.
- The mine would create new jobs in Savukoski and Northern Finland and generate wider demand for services. Preliminary assessments indicate that mining and mineral processing operations could create:
- An overall workforce demand of 1,300–1,500 person-years across Finland
- Sokli Oy also sponsors local community activities that promote sustainable development.
Impact on nearby recreational use:
- Hunting, fishing, berry picking, and mushroom gathering are common activities in the area sur-rounding Sokli. To date, the company has not restricted hunting, fishing, or other nature-related activities.
- Metsähallitus is the largest landowner in the area, and Sokli Oy does not restrict recreational use of the mining concession area at the current stage of project development. Existing excavations, buildings, and occasional research activities may locally and temporarily limit access.
Impacts on landscape value:
- Sokli Oy has renovated and demolished old buildings in the area and has improved the overall appearance and cleanliness of the site.
Interaction with stakeholders
Stakeholder cooperation:
Constructive dialogue with residents of Savukoski, local decision-makers, and reindeer herding cooperatives within the project’s area of influence is highly important. The company actively participates in broader discussions concerning the mining industry and communicates about its activities through local events, newsletters, and its website. Approximately €10,000 was spent on sponsoring local community activities.
Sokli Oy is a company based in Savukoski. The company regularly organizes open coffee events at its Savukoski office, where all interested parties are invited to discuss current developments related to the Sokli project. These meetings help maintain dialogue with local communities and provide a forum for discussing upcoming activities and stakeholder concerns.
Feedback can be submitted through the company’s online feedback form and is recorded in its electronic case management system.
The company’s electronic newsletter is published approximately once a month and provides up-dates on project developments. The newsletter can be subscribed to through the company’s newsletter service.
Further information is available at Sokli newsletter: sokliuutiskirje.mineralsgroup.fi. More in-formation on the project can be found on Sokli website https://www.sokli.fi/en/home.html
Research and cooperation projects:
Sokli Oy conducts extensive research and development cooperation with research institutes, universities, and companies to evaluate the project’s mineral potential, value chains, and societal impacts.