FinnCobalt Oy is a junior mining and exploration company aiming to responsibly and traceably produce raw materials needed by the battery industry.
The company’s main project is the Hautalampi nickel, cobalt, and copper mineralization located in Outokumpu, where the plan is to develop an electrified underground mine along with a concentrator plant near the site. The goal is to produce nickel, cobalt, and copper concentrates in a carbon-neutral and waste-free manner.
In addition to the Hautalampi project, FinnCobalt Oy holds exploration areas in North Karelia. The company is part of Eurobattery Minerals AB, which is listed on the NGM Nordic SME and German Börse Stuttgart (EBM) stock exchanges.
FinnCobalt Oy conducts mineral exploration in the municipalities of Outokumpu, Savonlinna, and Polvijärvi. In these areas, exploration has made use of existing data as well as boulder tracing and bedrock mapping, which have been complemented with new geophysical surveys.
FinnCobalt has received an exploration permit around the well-known Hietajärvi deposit in the municipality of Savonlinna, as well as around the Saramäki deposit in Polvijärvi. The exploration permit application for the Riihilahti deposit in Outokumpu is still pending.
In these areas, FinnCobalt is investigating copper, cobalt, and nickel deposits that are already known. The company does not conduct exploration in nature conservation areas.
| Yes | No | |
|---|---|---|
| Location in a nature reserve* | ||
| Environmental Management System ** | ||
| Environmental impact assessment required (in accordance with the EIA Act) | ||
| Measurements for dust | ||
| Measurements for noise | ||
| Measurements for vibration | ||
| Environmental risk assessment carried out | ||
| Deviations from the environmental permit *** | ||
| Closure plan for the mine | ||
| Plan for the controlled shutdown of the mine in unexpected situations |
| Yes | No | |
|---|---|---|
| Staff initiative system | ||
| Performance appraisals concerning the entire personnel | ||
| Staff training plan | ||
| Equality plan | ||
| Employee representation in company administration | ||
| Occupational health and safety management system* | ||
| Occupational safety card for everyone working in the area | ||
| Own rescue unit |
If realized, the mining project will be significant for business and services, both for the city of Outokumpu and for the North Karelia region. In addition, the project’s impacts will extend beyond the region and even outside Finland. The effects on business and services are expected to be substantial and positive.
The impacts of the project on the residential and living environment within the affected area are assessed to be minor. During mining operations, the project area will be unavailable for recreational use by local residents; however, once operations cease, the areas will be restored to their original state. The changes will only cause slight adjustments to customary practices, as movement within the mining concession area will no longer be possible in the same way as before. The changes brought about by the project will not lead to inequality among the local population. The planned mine will have no impact on the operation of the neighboring golf course.
The project area is not located within nationally or regionally valuable landscape areas. The mining concession area is currently a forested area shaped by human activity. In addition, the project area is situated outside residential zones and urban settlements. There are no significant recreational or natural sites within the concession area. Based on this, the sensitivity of the landscape and cultural environment to change is assessed as low.
A monthly “Mining Coffee” event is held at a local café, where we have the opportunity to share updates about FinnCobalt and the Hautalampi mining project with the local community.
For exploration permit applications, landowners are always informed in advance about the upcoming work on their properties.
In 2024, FinnCobalt participated in the following research and development (R&D) projects:
BATCircle 3.0, a joint project funded by Business Finland, focusing on the development of battery metal recycling.
BATTRACE, which addresses the traceability and sustainable production of battery minerals, metals, and materials.
ENICON, a project studying, among other things, the use of secondary cobalt and nickel sources for battery chemicals.
Additionally, FinnCobalt took part in the DeepBeat project, an EU-funded exploration development collaboration carried out together with GTK, as well as European and Canadian universities.
