Newsletter May 2025

Eurobattery Minerals AB publishes the newsletter for May, the last monthly newsletter before the summer.

Warrant exercise brings SEK 6.4 million to Eurobattery Minerals AB

Eurobattery Minerals successfully raised SEK 6.4 million through the exercise of 70.9 million TO6 warrants in the month of May. Approximately 58.2% of the warrants were subscribed for.
The number of shares increased from 365,417,921 shares to 436,306,174 shares, which implies a dilution of approximately 16.2 per cent.

This strong warrant subscription strengthens the company’s financial position and supports ongoing development of its battery mineral projects.

Eurobattery Minerals signs agreement with Terrafame Ltd, one of Europe’s leading suppliers and refiners of battery raw materials

We’re excited to share that Eurobattery Minerals and Terrafame has joined forces to strengthen Europe’s green battery supply chain. Terrafame is one of Europe’s leading producers of battery materials and we have signed an agreement to explore a joint development program in Finland.
The goal? To refine nickel and cobalt—two key ingredients in electric vehicle (EV) batteries—directly in Finland using materials from our Hautalampi mining project.

A European story

This new collaboration with Terrafame aims to:

• Process 100% of Hautalampi’s nickel-cobalt concentrate at Terrafame’s modern refining facilities.
• Ensure a more stable and local supply of battery minerals within Europe.
• Support the EU’s green transition by reducing reliance on imports and cutting carbon emissions through efficient and traceable production.

Why this matters

Battery minerals like nickel and cobalt are crucial for electric cars, energy storage, and renewable technologies. By teaming up with Terrafame, which is partly owned by the Finnish state and which has one of the largest nickel plants in Europe, we’re helping build a more secure, transparent, and sustainable battery supply chain—right here in Europe.

The agreement also lays the groundwork for a future long-term sales agreement and strengthens our position as a responsible supplier in the fast-growing battery sector.

“This partnership is a major step for our project in Finland—and a powerful example of how Nordic cooperation can help drive Europe’s green energy goals,” says Ilari Kinnunen, Managing Director of our Finnish subsidiary FinnCobalt Oy.

Stay tuned—more updates on this exciting development will follow as we continue building Europe’s battery future, responsibly.

Zoning approved in Outokumpu – Local approval moves Hautalampi Battery Mineral Project closer to reality

We are pleased to announce a major milestone for our Hautalampi battery mineral project in Finland: the City Council of Outokumpu has officially approved the detailed zoning plan for the future mining area. This final approval clears the way for obtaining building permits and marks a significant step forward for the project.

The zoning plan, developed by the City of Outokumpu in close consultation with local stakeholders, covers 309 hectares, most of it within the legally approved mining concession. It was reviewed and endorsed by both the Urban Structure Committee and the City Board before being passed on to the City Council, which gave it the green light on 26 May.

Why is the zoning so important?

This decision is more than just a legal formality for future building permits—it’s a strong sign of support from the local community. Outokumpu, a town with a proud mining heritage, recognizes Hautalampi as part of a modern and sustainable continuation of that legacy. As the Mayor of Outokumpu, Päivi Lintumäki, put it:

“This zoning proposal supports local vitality and economic development, while also reflecting a strong commitment to environmentally responsible and sustainable mining.”

What will happen next?

With the zoning now approved, Eurobattery Minerals—through its Finnish subsidiary FinnCobalt Oy—can move forward with the permitting and development of the Hautalampi site. The decision also shows that the project is well-aligned with Finland’s updated Mining Act and the country’s strong environmental and sustainability standards.

“The City Council’s decision significantly strengthens the foundation of the Hautalampi project. It de-risks our operations and confirms our commitment to delivering sustainable value—for both our shareholders and for Europe’s green transition.”, said CEO Roberto García Martínez.

Update on commodity prices

Nordic Exploration PhD Summer School

Eurobattery Minerals AB is proud to announce Nordic Exploration PhD Summer School, a pioneering, pan-Nordic initiative in responsible mining.

The Nordic Exploration PhD Summer School is being organized by Smart Exploration Research Center (SERC) and hosted by Eurobattery Minerals AB in collaboration with its Finnish subsidiary FinnCobalt Oy. The summer school will take place at the Hautalampi battery mineral project in eastern Finland.

This groundbreaking initiative is partly funded through the Internationalization Grant from Swedish Mining Innovation (Vinnova), demonstrating Sweden’s and Finland´s commitment to responsible and innovative raw materials education.

The Nordic region has long been recognized for its expertise in mining and mineral exploration and both Sweden and Finland play a central role in the development of sustainable raw material supply chains and innovation in the field.

The importance of this program

With the global race for critical minerals accelerating, Europe needs not only secure and sustainable supply chains—but also a new generation of geoscientists trained to lead responsibly. The Nordic Exploration PhD Summer School addresses this need by bringing together PhD students from Sweden, Finland, Norway, and potentially also Denmark and Iceland, for an immersive, challenge-based learning experience.

The program takes place at a brownfield site in the historic Outokumpu Mining Camp, home to the renowned Keretti copper mine (1912–1989). The Hautalampi project, which belongs to Eurobattery Minerals fully owned subsidiary FinnCobalt Oy, is now focused on cobalt, nickel, and copper—battery minerals essential for Europe’s green transition and strategic autonomy.
This initiative aligns with key EU strategies and policy frameworks, including:

• The Critical Raw Materials Act (CRMA)
• The European Green Deal
• Strategic priorities for European security and defence
• The EU Clean Industrial Deal
• The overall goal of securing European self-sufficiency in critical raw materials

A pioneering educational model

This is a unique project in Europe—a pilot program that could become a blueprint for future mining education initiatives across the continent. Its goals:

• Promote interdisciplinary, challenge-based learning
• Strengthen academic–industry collaboration
• Support responsible exploration and sustainability
• Foster cross-border networks among Nordic researchers

Participants will engage in team-based exploration using real data and tools, mentored by experts from academia and industry. The curriculum is structured into five phases, from online onboarding to on-site exploration, team presentations, and a final white paper summarizing key outcomes and policy insights.

Designed for impact
This summer school is more than just a one-off course. Short term, it will build Nordic research collaboration, practical skills, and academic–industry ties. Long term, it will establish a scalable, replicable model for geoscience education across Europe.
All students will receive a certificate and academic credit (2 ECTS). The top-performing team will be invited to continue with mentorship and potential research partnerships.

Lead Organizers: Magdalena Markovic Juhlin, Smart Exploration Research Center, Uppsala University; and Christer Heljestrand, Eurobattery Minerals AB

Supported by:Smart Exploration Research Center, Swedish Mining Innovation (Vinnova), Eurobattery Minerals AB, FinnCobalt Oy

If you want to apply or knows someone who could be interested 

Nordic Exploration PhD Summer School

📅 3–6 September 2025 | 📍 Outokumpu, Finland
This 4-day, hands-on program is led by Uppsala University, Institutionen för geovetenskaper, co-organized with Eurobattery Minerals AB, and supported by the Smart Exploration Research Center.

PhD students from Swedish and Nordic universities will work in interdisciplinary teams at an active exploration site, tackling real-world geological challenges under the mentorship of academic and industry experts.

📝 How to apply = > Send your CV (max 2 pages) and a 1-page motivation/cover letter to:magdalena.markovic [at] geo.uu.se

📌 Deadline: 15 August 2025

The team at Eurobattery Minerals will not stop working during the summer but we take the opportunity to wish you all some nice summer holidays! Our monthtly newsletter will be back in September.