Eurobattery Minerals´ Hautalampi mine, on the lists of largest undeveloped cobalt and copper projects in Scandinavia

"Being recognized as one of the largest undeveloped projects for cobalt and copper in Scandinavia is a strong validation of the potential of our Hautalampi project. As we can see from these lists, we could be one of the most important players in Europe for these critical raw materials. As Europe pushes hard for greater raw material independence, responsibly sourced cobalt and copper will play a crucial role in the green transition. This recognition is a big boost for us and further strengthens our commitment to advancing Hautalampi and contributing to a sustainable European battery supply chain,” said Roberto García Martínez, CEO of Eurobattery Minerals.

Our calculations state that our confirmed mineral reserves of cobalt at Hautalampi are:

• Measured and indicated 9.3 Mt; with a metal content of 6,200 t cobalt.

And in addition to this:

• Inferred resources of 3.4 Mt; with a metal content of 1,640 t cobalt.

With these resources, according to the independent source, we currently have the fifth biggest cobalt reserves (Hautalampi deposit) in Scandinavia, measuring by cobalt metal content 7,840 t.

The same calculations for copper are: Measured and inferred 9.3 Mt; with a metal content of 17,700 t copper.

In addition to Hautalampi, we have the nearby exploration area Saramäki, where early-stage calculations have been made, and it could contain the amounts stated below (these Saramäki figures are shown on the GTK mineral deposit and exploration website):

Resources: 3.4 Mt @ Cu 0.71%, Zn 0.63%, Co 0.086%, Ni 0.05%, Fe 17.87%, S 12.39%
Reserves (UNFC Classification): Cu 24,140t, Co 2,924t, Zn 21,420t, Ni 1,700t, S 421,260t, Fe 607,580t

"With only the measured and inferred resources, we are high up on these lists of undeveloped projects. This independent recognition highlights the significance of the Hautalampi project in securing a responsible and local supply of cobalt and copper for Europe. With the current geopolitical situation, projects like ours could be absolutely vital for Europe´s strategic autonomy in critical raw materials,” said Ilari Kinnunen, Managing Director of FinnCobalt Oy, a wholly owned subsidiary of Eurobattery Minerals and owner of the Hautalampi battery mineral project.

The list has been published by the premier weekly newsletter Rock Report, dedicated to delivering in-depth exploration news, mining visuals, and cutting-edge data analysis, which provides a comprehensive look at the latest developments in exploration, geology, and mining.

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