Eurobattery Minerals

The assessment report mainly highlights one aspect as to why the Company was not granted status as a Strategic Project and this is related to Article 6(1) of Regulation (EU) 2024/1252, and more concretely, to the reference documentation of the EIA. The EIA is the principal part of the Environmental Permit Application (EPA), which the Company submitted in April 2024. We are collaborating with the different Finnish authorities on local and state level throughout the whole EPA procedure.

“We are thankful for having received such a detailed and constructive assessment report from DG Grow about our CRMA application. Seeing that the main reason for rejection of our application was an aspect that we already have been working on for quite some time, made the decision about reapplying easier. According to us, these possible issues are being solved at this very moment, and we are ready to reapply as soon as the European Commission opens a new call. With the current geopolitical situation, Europe urgently needs more strategic projects to secure the supply of critical raw materials,” said Roberto García-Martínez, CEO of Eurobattery Minerals.

The EPA supplement will be submitted in the upcoming months, which according to the Company should resolve the issues raised in the assessment report from the European Critical Raw Materials Board at Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG Grow), and which were related to the recommendations in the EIA reasoned conclusion.

“At FinnCobalt, we are committed to developing the Hautalampi project in full compliance with Finnish and EU environmental regulations and the highest ESG standards, ensuring sustainability through continuous monitoring, impact mitigation, and responsible resource management. We acknowledge the concerns raised in the Environmental Impact Assessment (EIA) process and have already been working actively to address them through rigorous technical assessments and improved environmental planning,” said Ilari Kinnunen, Managing Director of FinnCobalt Oy.

In the above-mentioned assessment report, DG Grow also invites the Company to reapply at a future cut-off date of calls for Strategic Projects under the CRMA.

Our conclusion is that the criteria in question is/can be resolved and therefore Eurobattery Minerals will reapply for Strategic Project status, via our subsidiary FinnCobalt Oy, as soon as the European Commission announces a new cut-off date for calls. The Company will inform the stakeholders accordingly via another press release.