Circulor and Finnish Minerals Group to collaborate on advancing mineral traceability
The companies are launching large-scale partnership including technology development to verify the origin data of minerals in the Electric Vehicle battery value chain as part of the Battery Passport.
Finnish Minerals Group and Circulor are set to begin a long-term collaboration that builds on its leading solution for tracing mineral raw materials along the Electric Vehicle battery value chain. This strategic partnership with Circulor will advance the industrial deployment of traceability for Finnish Minerals Group, its portfolio companies and for the benefit of the EV value chain at large.
For mineral users in the battery value chain, traceability provides an opportunity to record and communicate about the origin and production impacts of materials at all points of the supply chain, from the mine to the consumer. Through technology development and deployment with Circulor, Finnish Minerals Group’s portfolio companies and strategic partners can become global pioneers in advancing the traceability methods for mineral raw materials.
“The traceability of mineral raw materials and the provision of information on their environmental and social impact and carbon footprint, for example, are key ways of improving the responsibility of the electric vehicle battery value chain. It also helps us promote the recycling of valuable metals and the competitiveness of raw material production in Europe,” says CTO of Finnish Minerals Group Jani Kiuru.
Jani Kiuru says that, in the technology development phase, Finnish Minerals Group and Circulor are working to introduce large-scale multi-user solutions for traceability. This phase also involves establishing a framework for producing battery raw materials for the European market as part of the Battery Passport.
“Materials go through several stages of processing in EV battery value chain, from the mine to the car and eventually into recycling. From a technology perspective, mapping and tracking activity across interconnected global supply chains is complex and requires a combination of tools like blockchain and machine learning;” says Yue Jin Tay, Director of Business Development of Circulor.
“Through our strategic collaboration with Finnish Minerals Group, we will set industry benchmarks for traceability and sustainability and contribute to Europe moving towards electric transportation and a more sustainable future.”
About Finnish Minerals Group
The mission of Finnish Minerals Group is to responsibly maximise the value of Finnish minerals. FMG manages the State’s mining industry shareholdings and strives to develop the Finnish value chain of lithium-ion batteries. In addition, FMG is engaged in long-term technology development of the mining and battery industry. Through its work, FMG contributes to Europe moving towards electric transport and a more sustainable future. www.mineralsgroup.fi