Eurobattery Minerals to focus on Finland and Spain - won't renew licenses in Sweden

EQS-Media / 19.10.2023 / 18:05 CET/CEST

Stockholm, 19 October 2023 – The mining company Eurobattery Minerals AB (Nordic Growth Market: “BAT” and Börse Stuttgart: “EBM”; in short: “EBM”, “Eurobattery” or “the Company”) today announced that it will not renew its exploration licenses for its seven Swedish assets when the permits expire at the end of October 2023. The decision will enable Eurobattery Minerals to currently focus on its more advanced projects to create better shareholder value. In Eurobattery Minerals half-year report 2023, the Swedish assets were valued at 2.7 MSEK; consequently, the decision will result in a non-cash flow affecting write down of the same amount.

“We are committed to providing the raw materials needed for batteries to power the green transition across Europe. To achieve this and create the best shareholder value, we have decided not to renew the licenses in Sweden and instead focus our attention on our battery mineral mine projects in Hautalampi in Finland and Corcel in Spain”, said Roberto García Martínez, CEO of Eurobattery Minerals.

The non-renewal decision is based on current challenges associated with mining in Sweden, where the uncertainty in the permit process adds vast ambiguity to the investment case. Furthermore, the decision follows from the Company’s increased attention to its Hautalampi mining project in Finland and Corcel project in Spain. Both projects are well-advanced, and analyses point to high nickel, copper and cobalt grades with a strong economic outlook.

About Eurobattery Minerals
Eurobattery Minerals AB is a Swedish mining company listed on Swedish Nordic Growth Market (BAT) and German Börse Stuttgart (EBM). With the vision to make Europe self-sufficient in responsibly mined battery minerals, the company’s focus is to realize numerous nickel-cobalt-copper projects in Europe to supply critical raw materials and, as such, power a cleaner world.

Please visit www.eurobatteryminerals.com for more information. Feel free to follow us on LinkedIn and Twitter as well.

Contact Eurobattery Minerals AB
Roberto García Martínez – CEO
E-mail: info@eurobatteryminerals.com

Contact Investor Relations
E-mail: ir@eurobatteryminerals.com

Mentor
Augment Partners AB is the mentor to Eurobattery Minerals AB
Phone: +46 (0) 86 042 255
E-mail: info@augment.se.

End of Media Release

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Language:

English

Company:

Eurobattery Minerals AB

114 56 Stockholm

Sweden

Phone:

+49 151 6568 0361

E-mail:

info@eurobatteryminerals.com

Internet:

www.eurobatteryminerals.com

ISIN:

SE0012481570

WKN:

A2PG12

Listed:

Regulated Market in Berlin, Frankfurt, Munich, Stuttgart

EQS News ID:

1753071

End of News

EQS Media

1753071 19.10.2023 CET/CEST