February 10, 2017 / 11:47 AM / 8 months ago

Finland finds new investor for troubled nickel mine

HELSINKI, Feb 10 (Reuters) - Finnish government said on Friday that commodity trading company Trafigura will take a stake in Terrafame, Finland’s state-owned nickel and zinc mine, as part of a 250 million euro ($266 million) arrangement.

Trafigura’s Galena Private Equity Resarch Fund will take a stake of 15.5 percent in the mine, and will also finance a loan. The arrangement will secure the completion of the mine’s ramp-up, the government said.

The government took over the troubled mine last year and founded Terrafame to build it up after production problems and environmental damage pushed former owner Talvivaara into a debt restructuring in 2013. ($1 = 0.9394 euros) (Reporting by Jussi Rosendahl, editing by Tuomas Forsell)

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