6 Related party transactions

The key related parties of Terrafame Ltd include Finnish Minerals Group, the State of Finland, Galena Private Equity Resources Investment 2 L.P. and Galena Private Equity Resources Investment 3 L.P. funds, as well as Trafigura Ventures V B.V. The related parties also include members of Boards, CEOs and management team members of Group companies, persons responsible for Terrafame Ltd’s commercial agreements, and immediate family members of persons referred to here, as well as entities over which they or their immediate family members have control. Terrafame’s related parties also include entities in which the Government of Finland exercises control or considerable influence. Terrafame has applied an exemption pursuant to which it only reports significant transactions with Government-related companies.

The financing arrangements between the company and Trafigura Ventures V B.V., Galena Private Equity Resources Investment 2 L.P. and Galena Private Equity Resources Investment 3 L.P. funds, and Finnish Minerals Group, as well as the commercial agreements between the company and Trafigura Ventures V B.V., are discussed in the report for the financial period. In addition, the counter-guarantees related to environmental collateral by the State of Finland and the parent company have been described in the report.

All business transactions between Terrafame Ltd and its related parties were market-conform.

 

Business transactions with related parties

(EUR 1,000)
 31 Dec 2018 31 Dec 2017

Goods and services sold
   
Other related party ventures 325,953 212,887
Ventures total 325,953 212,887

Total
 325,953 212,887


(EUR 1,000)
31 Dec 2018 31 Dec 2017

Goods and services purchased
   
Other related party ventures 29,250 18,701
Ventures total 29,250 18,701

Total
29,250 18,701


(EUR 1,000)

Credits
31 Dec 2018

 
31 Dec 2017

 
Other related party ventures 75,000 75,000
Ventures total 75,000 75,000

Total
75,000 75,000
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