Eurobattery Minerals will make an application for Hautalampi to become a Strategic Project under the Critical Raw Materials Act

EQS-Media / 13.05.2024 / 07:35 CET/CEST Stockholm, 13 May 2024 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “Eurobattery Minerals” or the “Company”) announces that the Company will apply for the battery mineral project Hautalampi to become a Strategic Project under the new EU Critical Raw Materials Act.

Eurobattery Minerals has announced its application for the Company´s Finnish Hautalampi project to become a Strategic Project under the new Critical Raw Materials Act (CRMA) recently approved by the European Union (EU). This initiative aims to contribute to the EU's objective of ensuring access to a secure, diversified, affordable, and sustainable supply of critical raw materials essential for strategic applications in various sectors, including the net-zero industry, digital industry, aerospace, and defence. This is an open call from the Directorate-General of the European Commission (DG GROW) to support strategic projects under CRMA and the initiative is intimately connected to the benchmarks set for the goals of EU 2030, for a sustainable Europe by that year.

The recognition of a project as a Strategic Project has several advantages, including streamlined and predictable permitting procedures and support in gaining access to finance.

“Eurobattery Minerals is committed to supporting the EU's efforts to secure the supply of critical raw materials. Our project aims to not only contribute to the EU's strategic goals but also to operate responsibly and sustainably, generating positive impacts for local communities and economies. This first open call to become a strategic project is a great opportunity for us, and also opens the door for future subventions under the umbrella of CRMA,” comments Roberto García Martínez, CEO of Eurobattery Minerals.

Background of the open call for Strategic Projects under CRMA

Under the CRMA, Strategic Projects are recognized as key instruments to enhance the security of the EU's supply of 17 strategic raw materials listed in Annex I of the Act. These materials include crucial elements such as cobalt, nickel, copper, tungsten, and other raw materials vital for modern technologies and industries. DG GROW aims to have a first set of strategic projects decided and published by the end of this year. The CRM Council meeting with the opening of the first call for proposals will take place after the entry into force of the CRMA regulation on May 23, as informed by DG GROW at the information day for potential applicants held on April 30. A timetable has been established for the Strategic Projects, highlighting the next steps: