One of the largest undeveloped cobalt and copper projects in Scandinavia
07.04.2025The mining company Eurobattery Minerals AB announced that its Hautalampi project has been recognized by independent sourced, as one of the largest undeveloped cobalt and copper projects in Scandinavia. In the case of cobalt, the Company´s battery mineral project is number five on a list of fourteen undeveloped cobalt projects in Scandinavia, with a contained cobalt metal content of 7840 t.
"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.
The calculations state that the confirmed mineral reserves of cobalt at Hautalampi are:
- Measured and indicated 9.3 Mt; with a metal content of 6200 t cobalt.
And in addition to this:
- Inferred resources of 3.4 Mt; with a metal content of 1640 t cobalt.
With these resources, according to the independent source, Eurobattery Minerals currently have the 5th biggest cobalt reserves (Hautalampi deposit) in Scandinavia, measuring by cobalt metal content 7840 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, Eurobattery Minerals 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 24 140 t, Co 2924 t, Zn 21 420 t, Ni 1700 t, S 421 260 t, 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.
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