Description of the company

In Suhanko, Southern Lapland, there are deposits containing precious and base metals that have been explored over a number of decades. Now, a mining project is being planned for the area, with construction work due to commence in 2024.

Suhanko Arctic Platinum Oy or SAP, a mining development and exploration company founded in 2018, which is a wholly owned Finnish subsidiary of CD Capital Asset Natural Resources Fund III L.P., is responsible of the project. The parent company is managed by the British private equity investment company CD Capital Asset Management LTF (CD Capital). SAP is committed to commissioning into use the Finnish Network for Sustainable Mining.

Suhanko is a polymetallic deposit. The most important excavated mineral and main product is palladium, which is primarily used for manufacturing catalytic converters which are used to manage the exhaust emissions of vehicles. In addition to palladium, Suhanko ore deposits also contain platinum, copper, nickel, gold, cobalt and rhodium, which are critical for the continued drive towards clean renewable source of power. The deposits are located in Ranua, right to the border of Tervola, 45 kilometres south of Rovaniemi center.

Company in figures

  • Production: -
  • Total mining: -
  • Reported ore reserves: -
  • Reported mineral reserves: 341 million tons (palladium 1,01 g/t, platinum 0,24 g/t, gold 0,09 g/t, copper 0,18 %, nickel 0,08 %). Reclassification of ore reserves and detailed mine planning are ongoing.
  • Year of commencement: 2026
  • Expected remaining life of the mine -
  • Mining area: 4 198 hectares (three mining areas/concessions, of which Suhanko accounts for 4,144 hectares)
  • Number of own employees (31.12.): 8
  • The main localities of the employees: Rovaniemi
  • Number of employees of permanent contractors (31.12.): 8
  • Operating profit EBITDA: -
  • Paid capital gains tax: -

Information about prospecting

The company has valid exploration permits covering total of 6,915 hectares (six permits). Exploration is carried out in Ranua, Rovaniemi, Tervola and Keminmaa municipalities. Suhanko Arctic Platinum Oy’s exploration and research methods consist of drilling, ground geophysical and airborne geophysical surveys, exploration pits made with excavators, bedrock mapping, saw-channel sampling, sampling using a mini-drill, RC drilling, geochemical sampling and boulder mapping. In addition, the company has conducted trial mining and numerous metallurgical tests on ore samples, in particular in connection with the feasibility studies for the Suhanko mining project.

  • Number and area of reservation areas: -
  • Number and area of exploration permit areas: 6 pcs and 6,915 ha
  • Number and area of exploration permit applications: 10 pcs and 19, 910 ha
  • Exploration permits under appeal: -
  • Exploration drilling: 2 739,2 m


The company's environmental practices:
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 performed
Deviations from the environmental permit ***
Mine Closure Plan
Plan for controlled mine closure in unexpected situations
  • ** Management systems: Not certified

  • Environmental permit granted: yes
  • Year of permit: December 7, 2005
  • Link of Permit: -
  • Financial guarantee in accordance with the Environmental Protection Act: -
  • Financial guarantee in accordance with the Mining Act in the mining permit area: 63,000 €
  • Financial guarantee in accordance with the Mining Act in mineral exploration permit areas: 31,000 €

Key Figures

  • Amount of mining waste: -
  • Utilization of extractive waste: -
  • Fuel consumption: Not reported
  • Other energy consumption (electricity and heating): Not reported
  • Energy consumption target: -
  • CO2-emissions: -
  • Water consumption: Not reported
  • Discharge offsite: -
  • Number of dams in the mining area: -
  • Number of endangered species present in the area of operation: Hammarbya paludosa orchid, Hamatocaulis vernicosus moss, Collema curtisporum lichen, moor frog, trout population of the River Ruonajoki, otter and Accipitriformes bird of prey
  • Use of environmentally hazardous chemicals: -
  • Actions related to biodiversity:

    Wide-ranging surveys of above-mentioned species  (2013, 2018, 2019, 2020, 2021 and 2022) and planning compensation measures.

Personnel and security

The company's personnel practices:
Yes No
Personnel initiative system:
Development discussions for all staff:
Staff training plan:
Equality plan:
Representation of employees in the company's administration:
Occupational health and safety management system *:
Occupational safety card for everyone working in the area:
Own rescue team:
*ISO45001 compliant system, not certified.

Key Figures

  • Average training days: 2 days/employee
  • Sick leave days (excluding contractors): 0,59 % (percentage share of sick leave absences/workdays)
  • Accident frequency: 0 accidents per million work hours (accidents that have led to the loss of more than one working shift)
  • Current shift systems: one-shift system, two-shift system, weekday system (Monday to Friday)
  • Women’s share of the workforce (%): 37,5 %

Impact on the use and livelihoods of nearby areas

Impact on local livelihood:

Exploration is practised in the reindeer herding area, belongin to the reindeer herding cooperatives of Isosydänmaa (9,800 ha), Narkaus (7,600 ha) and Niemelä (1,000 ha). The municipality, residents of neighbouring regions, landowners and reindeer herding cooperatives have been identified as belonging to the company’s most central stakeholders and the stakeholder work conducted by the company shall also take into consideration the local businesses.




Impacts on nearby recreational use:

According to the company’s own estimates, its operations have not had any impacts on the recreational use of the neighbouring areas.

Impacts on landscape value:

The company’s impacts on landscape values have been investigated in three different EIAs that have clarified the landscape impacts of the planned mining projects.

Interaction with stakeholders

Stakeholder cooperation

  • The social impact assessment was conducted in 2013, but social impacts are not monitored.
  • Stakeholders are communicated information about the company’s operations in the local newspaper, at information briefings, on the website, by email and by regular mail.
  • From the company’s perspective, the form of collaboration with reindeer herding cooperatives, property owners, stakeholders and others currently using the mining area has been good. The company has put special effort into informing about project plans, permits and exploration work.
  • The company has supported local club activities.
  • The stakeholders have their own channel, through which feedback can be given.

Research and cooperation projects:

Not reported

Social Responsibility Report
Area of ​​operation:
Operating regions: Ranua, Rovaniemi, Tervola, Keminmaa, Simo
Contact information:
Erkki Kantola

Suhanko Arctic Platinum Oy

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