Eurobattery Minerals AB

Eurobattery Minerals AB is a Swedish mining company focused on exploring and developing key battery minerals—nickel, cobalt, copper, and rare earth elements—in Finland and Spain. Listed on the Nordic Growth Market, it emphasizes sustainable practices to support Europe’s electric vehicle supply chain with responsibly sourced materials.

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Eurobattery Minerals AB is a Swedish mining company specializing in the exploration and development of essential battery minerals within Europe. Founded with a focus on nickel, cobalt, and copper extraction, the company operates strategic projects in Finland and Spain. As a listed entity on the Nordic Growth Market (NGM), Eurobattery Minerals aims to establish Europe’s self-sufficiency in responsibly sourced battery minerals. The company’s emphasis on sustainable mining practices and transparent operations positions it as an important contributor to the European electric vehicle supply chain.

Battery Technology

While Eurobattery Minerals doesn’t directly manufacture batteries, its role in the battery value chain is fundamental. The company concentrates on extracting and processing specific minerals crucial for battery production:

Nickel: Essential for cathode materials in lithium-ion batteries, improving energy density and performance
Cobalt: Vital for stability and longevity in battery cells
Copper: Used in battery connections and electrical components
Rare Earth Elements: Important for various electronic components in electric vehicles

The company’s Hautalampi project in Finland demonstrates advanced mineral processing capabilities, producing commercial-grade concentrates of these materials. Their extraction methods incorporate sustainable practices and maintain full traceability throughout the supply chain. This approach supports European battery manufacturers’ requirements for ethically sourced materials while meeting strict environmental standards.

Recent Projects

In early 2024, Eurobattery Minerals expanded its portfolio by signing a Letter of Intent to invest EUR 2.5 million in a Spanish tungsten project through Tungsten San Juan SL, with production targeted for 2025. The company also submitted an application for its Hautalampi battery mineral project to be recognized as a Strategic Project under the EU Critical Raw Materials Act, with decisions expected by December 2024. Additionally, they completed the acquisition of FinnCobalt Oy, securing complete ownership of the Hautalampi nickel-cobalt-copper project.

Investors

The company’s financial backing includes substantial support from a Swiss investment company, which invested approximately SEK 2.2 million in a rights issue. The Board of Directors and management team demonstrated their commitment by investing SEK 3.1 million. Fenja Capital II A/S has also provided financial support through convertible notes worth SEK 4.0 million, strengthening the company’s capital structure for future development.