Anglo American's Sakatti Project Receives 'Strategic Project' Status from EU

LONDON - Anglo American PLC’s Sakatti polymetallic project in Finland has officially been awarded 'Strategic Project' status by the European Commission. This designation aligns with the European Union’s ongoing efforts to secure supplies of essential raw materials critical for various industries. The recognition comes under the EU’s Critical Raw Materials Act, which aims to enhance the Union’s self-sufficiency in these vital resources and streamline related permitting processes.

Significance of the Sakatti Project

Alison Atkinson, Anglo American’s Projects & Development Director, expressed the company’s satisfaction with the recognition of Sakatti. She emphasized the project’s potential to significantly bolster the EU’s supply of critical raw materials. The Sakatti project is expected to produce around 100,000 tonnes of copper equivalent annually starting in the early 2030s, playing a crucial role in Europe’s efforts to decarbonize and advance technology.

Currently, the European Union meets only 4% of its critical mineral needs domestically. The Sakatti project's strategic status could accelerate its development, supporting the EU’s goal to increase local production to 10%. This initiative marks an essential step in Anglo American's wider strategy to expand its copper production capabilities.

Project Development and Sustainability Commitment

Anglo American has been actively engaged in Finland for 20 years, beginning exploration activities in 2004 and discovering the Sakatti deposit in 2009. The company plans to implement responsible mining practices during the development of Sakatti. This next-generation project will feature a low-carbon design and a highly automated underground mining operation that aims to minimize surface impact.

Located in Finnish Lapland, near the town of Sodankylä, the project is strategically positioned to enhance the Nordic region's supply of metals and minerals essential for global decarbonization efforts. Finland’s stable governance and established processing facilities make it a reliable source for responsibly sourced critical raw materials.

Conclusion

The granting of 'Strategic Project' status to the Sakatti project highlights the increasing global emphasis on sustainable and secure access to critical raw materials. This development not only supports Anglo American’s growth objectives but also reiterates the EU’s commitment to enhancing its self-sufficiency in essential resources.

For more information on this and related topics, please refer to the official press release from Anglo American.