Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NASDAQ OMX HELSINKI LTD.  >  Fortum Oyj    FORTUM   FI0009007132

FORTUM OYJ

(FORTUM)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 07/13 04:08:57 am
17.44 EUR   +0.58%
07/09Uniper says it could consider earlier closure date for Datteln 4 plant
RE
07/09FORTUM OYJ : Gets a Buy rating from Barclays
MD
07/07Nokia Trails in 5G Race After an Early Misstep -- WSJ
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Finland to become EU's only uranium producer

share with twitter share with LinkedIn share with facebook
02/06/2020 | 11:17am EDT
FILE PHOTO: A general view of Talvivaara's nickel mine in Sotkamo

The Finnish government gave the green light on Thursday for state-owned Terrafame to extract and refine uranium in eastern Finland, paving the way for the country to become the European Union's only uranium producer.

The announcement by the government confirmed a Reuters report on Wednesday.

Terrafame is backed by commodities house Trafigura. It plans to produce uranium at a mine in the Kainuu region that has been producing nickel and other metals for batteries for years, and was previously known as Talvivaara.

Terrafame took over the mine in 2015 after environmental hurdles had led the mine to file for bankruptcy.

"When it comes to primary production, there isn't any (uranium) production elsewhere in the EU area according to our information, although there used to be," Terrafame chief executive Joni Lukkaroinen told Reuters.

Terrafame's predecessor Talvivaara had already constructed a 75 million euro (63.23 million pounds) uranium recovery plant at the mine before its bankruptcy and Lukkaroinen said Terrafame would invest another 10 million to finish it.

"Getting the uranium plant operational will take roughly a year," the company said in a statement, adding the start could be delayed by another year if the government decision faces appeals.

The Finnish Association for Nature Conservation said it planned to launch such an appeal.

"On the basis of the nuclear energy act, there are no grounds to grant a permit since the mine's waste solution is not durably safe for the environment nor have its long-term effects been assessed," its local branch wrote in a statement.

Talvivaara left several nearby lakes contaminated with heavy metals when its waste waters leaked on two occasions back in 2012 and 2013.

Terrafame plans to recover uranium from ore at the mine, along with its main products nickel, zinc, cobalt and copper, and refine it into yellowcake, a semi-finished uranium oxide product used to manufacture fuel for nuclear power plants.

It will then export the yellowcake to other countries approved by the International Atomic Energy Agency for processing it into nuclear fuel for which there are no existing production facilities in Finland.

Last year, 35% of Finnish electricity production came from the country's four nuclear reactors, whose owners Fortum and TVO [POHVOT.UL] buy their nuclear fuel from other countries including Russia, France and Canada.

Lukkaroinen said Terrafame did not have a goal to promote nuclear self-sufficiency. "Our only interest is to ameliorate our profitability," he said.

State-owned Finnish Minerals Group owns 71.8% of Terrafame, while Trafigura Group's private investment arm Galena holds 27.6% and Finnish insurer Sampo 0.6%.

(Reporting by Anne Kauranen, additional reporting by Tarmo Virki; Editing by Susan Fenton and Mark Potter)

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 2.76% 5.96 Delayed Quote.8.36%
BYD COMPANY LIMITED 3.62% 77.3 End-of-day quote.98.97%
FORTUM OYJ 0.75% 17.475 Delayed Quote.-21.18%
JUST GROUP PLC 1.10% 49.18 Delayed Quote.-37.90%
SAMPO OYJ 1.27% 32.56 Delayed Quote.-17.30%
THE EASTERN COMPANY 6.91% 17.79 Delayed Quote.-41.73%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) 0.04% 70.745 Delayed Quote.14.30%
WILL GROUP, INC. -2.52% 618 End-of-day quote.-50.64%
share with twitter share with LinkedIn share with facebook
Latest news on FORTUM OYJ
07/09Uniper says it could consider earlier closure date for Datteln 4 plant
RE
07/09FORTUM OYJ : Gets a Buy rating from Barclays
MD
07/07Nokia Trails in 5G Race After an Early Misstep -- WSJ
DJ
07/06Nokia, Hurt by Costly 5G Chip Mistake, Struggles to Catch Huawei
DJ
07/06FORTUM OYJ : to sell its district heating business in Jarvenpaa, Finland for app..
AQ
07/03IBERDROLA : Clean technology projects line up bids for $1 billion EU support
RE
07/03Fortum Sells Finnish District Heating Business for EUR375 Million
DJ
07/03FORTUM OYJ : sells district heating business in south Finland
RE
07/03FORTUM OYJ : to sell its district heating business in Järvenpää, Finland for app..
AQ
07/02FORTUM OYJ : DNV GL approves Shell carbon capture technology to bring down emiss..
AQ
More news
Financials
Sales 2020 52 183 M 59 117 M 59 117 M
Net income 2020 1 616 M 1 831 M 1 831 M
Net Debt 2020 7 968 M 9 027 M 9 027 M
P/E ratio 2020 9,50x
Yield 2020 6,29%
Capitalization 15 403 M 17 426 M 17 450 M
EV / Sales 2019
EV / Sales 2020 0,45x
Nbr of Employees 19 935
Free-Float 47,2%
Chart FORTUM OYJ
Duration : Period :
Fortum Oyj Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FORTUM OYJ
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 18,08 €
Last Close Price 17,34 €
Spread / Highest target 50,5%
Spread / Average Target 4,24%
Spread / Lowest Target -30,8%
EPS Revisions
Managers
NameTitle
Markus Heikki Erdem Rauramo President & Chief Executive Officer
Matti Juhani Lievonen Chairman
Timo Tapani Karttinen Chief Financial Officer
Kim Juhani Ignatius Independent Non-Executive Director
Tiina Marjukka Tuomela Director & Executive VP-Generation Division
Sector and Competitors
1st jan.Capitalization (M$)
FORTUM OYJ-21.18%17 426
NEXTERA ENERGY7.20%127 061
ENEL S.P.A.13.55%92 348
IBERDROLA16.88%78 047
DOMINION ENERGY, INC.-11.16%61 752
DUKE ENERGY CORPORATION-10.84%59 758