Mawson Gold Ltd (TSE:MAW) (OTCPINK:MWSNF) said it had become a founding member of the newly established European Raw Material Alliance (ERMA), which aims to bolster the bloc's economy, supply chains and investment into the raw materials sector.
"The EU has identified raw materials as a key enabler for a globally competitive, green, and digital Europe," said Mike Hudson, the chief executive of Mawson, in a statement.
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"Mawson's 100%-owned Rajapalot project in Finland is a significant and strategic gold-cobalt growing resource and one of Finland's largest gold resources by grade and contained ounces and one of a small group of cobalt resources prepared in accordance with NI 43-101 policy within the EU.
"Consequently, the project has the potential to support Finland's and the EU's desire to source ethical and sustainable cobalt and Mawson is a proud founding member of the ERMA network."
ERMA is coordinated by EIT RawMaterials, which was founded by the European Institute of Innovation and Technology (EIT), and brings together more than 120 core and associate partners and over 180 project partners from leading industries, universities, research and technology organisations from more than 20 EU countries.
Partners of EIT RawMaterials are active across the raw materials value chain, from exploration and mining to recycling and the circular economy.
By 2030, ERMA aims to increase the production of raw and advanced materials and address the circular economy by boosting the recovery and recycling of critical raw materials.
Contact the author at giles@proactiveinvestors.com