The Sokli studies are progressing – promising findings regarding rare earth elements and critical minerals
The latest geological studies in Sokli have found locally high concentrations of rare earth elements (REE) as well as occurrences of niobium, which has been defined as a critical element and is used, for example, in special-alloy steels in the defence industry.
Ongoing drilling campaign in Sokli, Finland, has produced new information about the mineral content of the deposit. The company is preparing a mineral resources estimate covering the entire deposit, having conducted new drilling and reanalysed old samples for the estimate. The preliminary drilling results indicate that the deposit contains locally significant concentrations of rare earth elements (REE) such as neodymium and praseodymium. These elements are essential in, for example, permanent magnets used in wind power plants and electric vehicles.
The actual mineral resource estimate will be completed in late 2025
In addition to REE and niobium, Sokli contains phosphate, iron, manganese, vermiculite, uranium, and copper, among others.
“The analysis of the drilling results is still unfinished, but we have detected as high as over 10% concentrations of REE in individual drilling samples. We will continue to work on the mineral resources estimate, and once it has been completed, we will have a more comprehensive picture of the total mineral content and usability of the deposit,” states Pasi Heino, Project Director at Sokli Oy.
The actual mineral resource estimate will be completed in late 2025 when all the drilling and analysis results for 2024–2025 have been reviewed.
The Sokli project would protect Finland’s interests as part of a changing global operating environment
The demand for REE and critical minerals is increasing globally, driven especially by defence industrial and green transition applications. In Europe, processing capacity for REE is currently being built, and mining-related projects are mainly found in the Nordics. Deposits like the one in Sokli could meet the growing demand and strengthen Finland’s position as a producer of critical and strategic raw materials, while also improving security of supply.
“The new results reinforce our assumptions that the Sokli project is worth developing as a polymetallic mining project that is based on the production of critical and strategic raw materials as well as the maximizing beneficiation raw materials. The Sokli project would promote the goals of Finland’s national mineral strategy by supporting the development of a domestic value chain and improving our self-sufficiency in raw materials,” says Jani Kiuru, SVP, Raw Materials at Finnish Minerals Group.
The local community strongly supports the project
Based on the results of a Taloustutkimus survey conducted in January 2025, nearly two-thirds of Savukoski residents (62%) agreed with the statement, “I am in favour of opening a mine in Sokli, provided that the operations at the mine will be arranged in a responsible manner with respect to the environment and local livelihoods.” Of the respondents, 8% had a neutral attitude towards the project, while 26% opposed it. 4% said that they somewhat disagree with the above statement.
92% of the respondents considered it important that minerals extracted in Finland are further processed domestically and not immediately exported. The respondents also felt that the mining project would strengthen regional vitality and offer new job opportunities to local residents.
Far-reaching regional economic impacts
According to an assessment by the consulting company Ramboll, the construction phase of the Sokli mine would employ thousands of people across Finland. During mining operations, the project would generate annually over EUR 700 million of new revenue and create a labour demand of approximately 1,300–1,500 person-years, directly and indirectly, depending on the implementation model of the mine.
New labour demand would also be created elsewhere in Finland, for example, in land transport and processing, including the chemical industry and metal product manufacturing, as well as in machinery and equipment maintenance. Multiplier effects would emerge in commerce, for instance, and the project would enhance regional infrastructure and supply of services.
The project is proceeding towards the next phase of the feasibility study
The studies of the Sokli project will continue in 2025. Their results will be used in assessing the technical feasibility, commercial viability, and environmental impacts of the mining project. The project will focus especially on sustainable mining solutions, considering both natural assets and the integration of different industries. The next phase of the feasibility study is planned to begin in 2026.
More information for the media:
Pasi Heino, Project Director, Sokli Oy
firstname.lastname(at)mineralsgroup.fi, +358 50 553 5032
Jani Kiuru, SVP, Raw Materials, Finnish Minerals Group
firstname.lastname(at)mineralsgroup.fi, +358 40 823 8471