Mawson and BATCircle2.0 Co-Funding for the Rajapalot Gold-Cobalt Project, Finland - Seite 2

The objectives of Mawson's BATCircle2.0 project are to:

• Optimise enhanced gravity streams for cobalt and gold separation;
• Efficiently separate gold and cobalt/sulphide concentrate streams;
• Add understanding of optimal conditions for flotation of cobaltite;
• Study leaching of non-cobaltite concentrate residues;
• Investigate on-site cobalt metal or salt production;
• Reduce acid production in tailings and carbon capture using Mg-rich waste in tailings;
• Enhance circular battery economy by integrating project results into the economics of recovery of nickel and cobalt from sulphide concentrates.

Many Finnish cobalt-gold polymetallic systems are driven by the economics of gold with the metallurgical focus therefore driven to returns on gold. Losing battery and critical metals to tailings is a poor outcome for Finland and the development of a local circular low-carbon economy. Mawson's Rajapalot gold-cobalt project in Lapland also contains nickel, copper and tungsten, a common Finnish metal association but unusual globally. Drilling for metallurgical sampling will continue,

providing fresh research materials.

Background to BATCircle2.0: The BATCircle2.0 consortium has been granted €10.8 million by Business Finland as part of a total funding budget of €19.3 million. BATCircle2.0 is a key project in Business Finland`s Smart Mobility and Batteries from Finland programs.

The BATCircle2.0 consortium will build on the first phase of BATCircle which was successfully completed in April 2021. The aim of the project consortium is to create a competitive and sustainable European battery industry through collaboration and joint research between companies and research organisations. The BATCircle2.0 consortium led by Aalto University consists of the following universities, research institutions and companies:

• Universities: Aalto University, University of Eastern Finland, LUT University (Lappeenranta Uni of Tech), University of Oulu;
• Research Institutions: Geological Survey of Finland (GTK), VTT Technical Research Centre of Finland;
• Companies: Boliden Harjavalta Oy, Finnish Minerals Group Oy, Fortum Waste Solutions Oy, Metso Outotec Oyj, Norilsk Nickel Harjavalta Oy, Terrafame Oy, Umicore Finland Oy, AkkuSer Oy, BroadBit Batteries Oy, Fennoscandian Resources Ab, FinnCobalt Oy, Keliber Technology Oy, Latitude 66 Cobalt Oy, Mawson Oy, X-Ray Minerals Services Finland Oy

The Aalto University Official Announcement can be found here.

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