The Porya Guba clinopyroxenite–wehrlite complex is located in the core of the Lapland–Kola collisional orogen (~2.0–1.9 billion years old) in the northeastern part of the Fennoscandian Shield and contains iron–titanium–vanadium and nickel–copper mineralization with platinum group elements (PGEs). The controversial geological position of the complex within the mafic granulites of the Kolvitsa mélange (pre-, syn- or post-orogenic) is clarified by Sm-Nd isotopic dating of the rocks and mineralization. The Sm-Nd age of the barren clinopyroxenites that dominate the complex is 1858 ± 34 Ma (εNd(T) = −1.5) and is interpreted as the time of its emplacement as evidenced by a sample from the largest intrusion, named Zhelezny. This age is younger than that of the peak of granulite metamorphism in the host rocks (1925–1915 Ma) and coincides within error with the age of rutile from granulites (1880–1870 Ma), indicating the time at which cooling to 450 °C occurs. Emplacement in the cooled rocks is confirmed by the detection of quenching zones in clinopyroxenites around granulite xenoliths. Magnetite ores, as well as mineralized pyroxenites with sulfide disseminations, are formed during a late stage of the complex development, as suggested by active assimilation of granulite xenoliths by these rocks. The isotopic age of mineralized pyroxenites enriched in PGEs is 1832 ± 35 Ma (εNd(T) = –2.0), while the age of magnetite ores is 1823 ± 19 Ma (εNd(T) = –2.5). Thus, the obtained isotopic data indicate that the emplacement of the Porya Guba complex and probably other small mafic–ultramafic intrusions in the Kolvitsa mélange granulites took place after the end of the Lapland–Kola collision.