Resource Mining Corporation Ltd (ASX:RMI) has been admitted to the European Raw Materials Alliance (ERMA) after the latter accepted RMC’s application to join.
The ERMA is co-funded by the European Union and was launched in 2020 as part of a ten-point action plan on critical raw materials.
“RMC is thrilled to be admitted to the European Raw Materials Alliance, bringing it into contact with a large and fast-growing network of companies focused on building a regional supply chain for battery minerals, including a range of companies from explorers to producers, as well as those involved in advanced materials, final products, and recycling,” Resource Mining CEO Andrew Nesbitt said.
European regional supply chains
A key focus of the ERMA is strengthening European regional supply chains for the ultimate production of batteries, fuel cells and rare earth magnets.
One of the ten points articulated in the action plan is to “identify priority mining and processing projects for critical raw materials in the EU”.
RMC believes that its three Finland projects are strong candidates for consideration. They include Ruossakero, which has recently been confirmed to contain 42.1 million tonnes @ 0.40% nickel and 0.016% cobalt, and the Hirvikallio Lithium and Kola projects, which are both highly prospective for lithium.
ERMA reported late last year on the success of one of its partners, Finnish mining and battery chemical company Keliber, adjacent to RMC’s Kola project.
The project has received its environmental permit and significant funding and has since seen a global mining major Sibanye-Stilwater take a majority stake.
“RMC’s projects in Finland are not only prospective for lithium, nickel and cobalt, but are ideally located in a pro-mining jurisdiction and close to refineries and factories needed to feed into growing regional markets,” Nesbitt said.
“This is an exciting time for the company, and our admission into this alliance is an important next step in our journey.”