Eurobattery Minerals

The investor presentation covered, among other things, a status update regarding the progress of the battery mineral mine projects in Finnish Hautalampi and in Spanish Corcel. A selection of the information is summarised below.

In 2023, the Company has increased its stake in FinnCobalt Oy and the Hautalampi project to 70 per cent, and achieved several important milestones in the project, including the publication of a Preliminary Feasibility Study, the achievement of the highest UNFC classification as a viable mining project, the registration of the Hautalampi mining permit, and the submission and approval of an updated Environmental Impact Assessment. In 2024, the Company intends to accelerate the work in Hautalampi by finalising the acquisition of the project, applying for an environmental permit, as well as signing a non-binding offtake agreement and delivering a feasibility study.

In the Spanish Corcel project, the Company continues to await a positive decision from the Energy and Mining Authority of Galicia. Eurobattery has, as previously communicated through a press release on 30 August 2022, submitted all necessary information for environmental and operating permits and will resume the development of Corcel when possible. Since the European Parliament on 12 December 2023 voted in favour of a bill under the Critical Raw Materials Act (CRMA), which among other things entails that the permit process for a mine should be significantly speeded up and that at least 10 per cent of the EU's annual consumption of strategic raw materials should be mined within the EU by 2030, the Company hopes that the permit process in Corcel will be made easier in the near future.