Newsletter December 2023

New year, new possibilities. And here at Eurobattery Minerals we are certainly having a flying start to 2024, for example with the subscription period and detailed engineering at Hautalampi! Lots of exciting things going on so let´s start, and we will go point by point:

• Subscription period is ongoing!
• Detailed design for concentrator in Hautalampi
• COP28 – Critical minerals are important for the energy transition
• A few thoughts from our CEO Roberto García Martínez

Subscription period: 8^th to 22^nd of January 2024

The subscription period in the Rights Issue has started and ends on the 22^nd of January 2024. If you share our vision about responsibly mined battery minerals that drives a real green transition, please consider supporting us!

Click here to see a short summery/teaser

Click here to go to our Issue website (for all the info)

One of the main reasons behind this Rights Issue, is to accelerate the development of the Hautalampi project. The project consists of one mining concession covering 227 hectares with exposure towards the battery minerals nickel, cobalt, and copper. Continue reading to get news about this…

Detailed design for concentration plant at Hautalampi

The development of the concentration plant at Hautalampi is a crucial step for our mining operations. The basic engineering for the concentration plant was completed and now we are moving forward with the detailed design of the plant. It´s of course a major step in the process and we share a few illustrations here with you, to give you an idea of how the plant will look. Please also note that we will be able to leverage on existing surface and underground infrastructure at the Hautalampi site, including a high voltage power line, concrete foundations, and roads, something that provides significant location advantages to the project.

Overview of the processing plant and the concentrator

The planned concentration plant at Hautalampi

Apart from the more advanced design of the concentrator, we at Eurobattery intend to accelerate the development of Hautalampi by finalising the acquisition of the project, applying for an environmental permit in Q1-2024, as well as signing a non-bindning offtake agreement and delivering a feasibility study in H1-2024.

We would also like to share a video with you here, to get a visual overview of the plans for the concentrator, as well as the whole Hautalampi site:

COP28 – Critical minerals have a pivotal role in the energy transition

Lots of buzz around COP28 which was held in United Arab Emirates in December 2023, with a mix of positive and negative messages coning out from the event. But one thing was made clear during the latest edition of the Conference of the Parties: we need to extract critical minerals in a sustainable and just way.

Because how can businesses deliver on their clean energy promises? The ready end product might be sustainable but what about the raw materials that the product was made from? Two keywords here are traceability and chain of custody. Traceability is the ability to follow the trail of minerals along the whole supply chain by monitoring the chain of custody. Chain of custody refers to all steps and stakeholders in a supply chain that involves the product, including miners, transporters, exporters, processors, and manufacturers.

We need to phase out fossil fuels to limit global warming. Clean energy is the key to achieve our goals and batteries play an important part in that green energy landscape. But to make batteries we need minerals, and minerals are something that really came into the spotlight at COP28. Even UN Secretary-General António Guterres emphasized the importance of extracting critical minerals in a sustainable and just way:

“The extraction of critical minerals for the clean energy revolution – from wind farms to solar panels and battery manufacturing – must be done in a sustainable, fair and just way,” the UN chief said, adding that the demand for minerals, such as copper, lithium and cobalt, is set to increase almost fourfold by 2030.*

- António Guterres, Secretary-General of the United Nations

Because developing countries are more than just raw material producers, and human rights have to be respected everywhere, not just in the West. It becomes clear that we cannot build a sustainable future on raw materials mined under poor conditions. Eurobattery Minerals´ vision is to make Europe self-sufficient in responsibly mined and traceable battery minerals and, by doing so, power a cleaner and more just world.

Commodity prices – January 2023 to January 2024

A few thoughts from our CEO Roberto García Martínez

As CEO for Eurobattery Minerals, I welcome you back after the Winter Holidays. I hope you had a relaxing time. Busy times at the Company these days, so let´s go!

All of the above which have been presented by my fellow-workers at Eurobattery Minerals, was also echoed in my State of the Mining Industry before Christmas. We see that sustainable technology and innovations that help to reach the climate goals ought to be in the spotlight. For those solutions, we need raw materials. Eurobattery Minerals want to be a part of that solution.

I am very pleased with the news from Hautalampi, Finland. The development of the concentration plant is vital in our work to supply responsible battery minerals from our Finnish mine and thus make Europe less dependent on conflict minerals.

We are in the middle of the Rights Issue right now and due to this, I have the pleasure to invite you all to a DIGITAL INVESTOR MEETING. This will take place on Monday 15 January 2024, at 5:00 PM CET. During this meeting, I will present Eurobattery and also answer your questions.

CLICK HERE to register and participate in the investor meeting

As you can see, many interesting things going on here at Eurobattery Minerals! We look forward to 2024 with high expectations.

Sincerely yours,
Roberto García Martínez, CEO

*United Nations official website: “COP28: Extraction of minerals needed for green energy must be sustainable and just”. https://news.un.org/en/story/2023/12/1144267