For those who are not familiar with Eurobattery Minerals – could you tell us about the company, your business model and the role you play within the European battery and mining industry?

Eurobattery Minerals is a Swedish mining company with a clear mission — to make Europe self-sufficient in responsibly mined minerals. We are listed on both the Swedish and German stock markets, NGM and Börse Stuttgart. Our focus is on exploring and developing ethical sources of key minerals such as nickel, cobalt, copper and tungsten, all essential for Europe’s sustainability transition. Our projects are located in Finland and Spain, two EU countries with strong mining traditions and robust environmental frameworks. Our business model is to develop our mining projects from exploration to production, while working closely with local communities, authorities and industrial partners in Europe. We aim to build a traceable and low-carbon European supply chain for critical raw materials, directly contributing to the EU’s Critical Raw Materials Act and the goal of securing strategic independence in mineral supply. In short, we stand for responsibly mined minerals – from Europe, for Europe.

You are developing projects focused on battery minerals such as nickel, cobalt and copper. Could you briefly describe how your projects work and what differentiates your approach from other players in the market?

We have two main projects: the Hautalampi battery mineral project in Finland and the San Juan tungsten project in Spain. Hautalampi, located in Outokumpu, is an old copper mine from the 1980s that we now fully own after acquiring the remaining shares last year. We have invested a lot of time, effort and capital into developing it. A pre-feasibility study was completed in 2023 and the environmental permit application has been submitted. Depending on the authorities’ response, we expect the project to be in operation around 2028–2029. The project will play an important role in supporting Europe’s battery and mining industry in the near future. The San Juan tungsten project in Spain marks our entry into the extraction phase. We currently hold 51% ownership and have an agreement with an Austrian buyer, part of the Swedish Sandvik Group, for the full future production. This is a clear example of a European value chain – from production to processing to end use within Europe. What truly differentiates us is our strong ESG commitment. For example, we have been cooperating with Finnish authorities to prepare an ESG report that is not mandatory but that we choose to do voluntarily. We are also taking part in projects to reduce our carbon footprint by capturing CO2, and we are working with industrial partners to produce and utilize solar energy for our operations. To put it into perspective, producing one tonne of nickel in Indonesia generates between 37 and 84 tonnes of CO2, while in Finland it generates only 2.3 tonnes. This is a difference of about 25 times, which shows the importance of sustainable mining in Europe. These measures, together with our responsible approach, make us stand out in the market.

The demand for responsibly sourced battery materials is increasing rapidly. How do you work with sustainability and traceability across your operations, and how does this contribute to your long-term strategy?

Sustainability and traceability are at the very core of Eurobattery Minerals’ identity. We follow strict European environmental and social standards across all stages – from exploration to production – ensuring respect for people, nature and local communities. Our commitment includes transparent reporting, the use of renewable energy, and continuous efforts to minimize our carbon footprint. By operating entirely within the EU, we can guarantee that our entire value chain is ethical, fully traceable and compliant with EU legislation. This is crucial for automakers, investors and consumers who demand responsible sourcing. In the long term, this approach not only protects the environment and strengthens local economies, but also positions Eurobattery Minerals as a trusted partner in building a secure and sustainable European battery supply chain.

You have communicated several important milestones during the past year. Which of these do you consider the most significant, and what are the main focus areas going forward?

The past year has been very important for us and marked by several major milestones. One of the most significant is the acquisition of the remaining shares in FinnCobalt Oy, which means we now own 100% of the Hautalampi project. This strengthens our position and gives us full control over one of the most advanced battery mineral projects in Europe. We have also signed two key industrial agreements – one with Boliden AB for the purchase of copper and one with Terrafame Ltd for cooperation on nickel and cobalt. Both are leading European players, and their facilities are located near Hautalampi, which reduces transportation needs and emissions. In Spain, acquiring 51% of the San Juan tungsten project was another major step forward. We aim to begin production by the end of 2026, making it one of the very few tungsten mines operating within the EU. Tungsten is crucial for industries such as aerospace, defence and renewable energy. Looking ahead, our main priorities are to apply for Strategic Project status under the EU’s Critical Raw Materials Act for both projects, strengthen our industrial partnerships, and advance permitting and financing to move closer to production. These are all key steps toward becoming a leading supplier of responsibly mined minerals in Europe.

Partnerships and financing are often key success factors in the mining and battery-materials sector. How is Eurobattery Minerals working with strategic collaborations and funding to advance your projects?

Partnerships and financing are central to our strategy. We collaborate closely with established industrial players such as Boliden, Terrafame, and Wolfram Bergbau und Hütten (part of the Sandvik Group). These partnerships strengthen both our technical and commercial capabilities and help build a sustainable European value chain. On the financing side, we combine private investments with support from EU and national initiatives. We have already received grant funding from Finland and the European Union for the exploration phase, which shows that our projects are well aligned with European sustainability goals. We also expect further funding for our feasibility study. In addition, the EU’s Critical Raw Materials Act has created new opportunities for financing and accelerated permitting for responsible mining projects like ours. Through our combination of industrial partnerships and institutional collaboration, we are building a strong foundation for long-term growth and stability – not only for Eurobattery Minerals but for Europe’s entire battery materials industry.

Where do you see Eurobattery Minerals in a year from now?

Within a year, we expect to have received the environmental permit for the
Hautalampi project in Finland, and we should be close to starting production at our tungsten mine in Spain. These developments will mark a major step forward, moving Eurobattery Minerals from a development-stage company to an active producer of critical raw materials within the EU.

Finally, could you mention three reasons why Eurobattery Minerals is an interesting investment today?

First, our strategic position. In today’s world, resource security is national security. With growing geopolitical tensions and export restrictions, Europe urgently needs to secure its own supply of critical raw materials. Eurobattery Minerals is one of the few companies developing responsible mining projects entirely within the EU.

Second, our alignment with the sustainability transition. The green and digital transitions require a vast supply of responsibly sourced minerals for electric vehicles, wind turbines, solar panels and data centres. Our projects in Finland and Spain provide the nickel, cobalt, copper and tungsten needed to drive this transformation.

Third, our strong ESG foundations and long-term growth potential. Mining is fundamental for the modern world – without it, there is no electrification, no green energy and no technology. We are doing this responsibly and transparently, making Eurobattery Minerals a company built for Europe’s future.