According to a report from MINING SEE on March 30, 2021, the Australian-Finnish mining company Latitude 66 Cobalt announced that the company has discovered the fourth largest in Europe in eastern Lapland, Finland. The Big Cobalt Mine is the deposit with the highest cobalt grade in the EU countries.
　　 This new discovery has consolidated Scandinavia’s position as a raw material producer. Of the 20 largest cobalt deposits in Europe, 14 are located in Finland, 5 are located in Sweden, and 1 is located in Spain. Finland is Europe’s largest producer of battery metals and chemicals.
　　Cobalt is an important raw material for making mobile phones and computers, and it can even be used to make guitar strings. The demand for cobalt is growing exponentially, especially the batteries used in electric vehicles, which generally contain 36 kilograms of nickel, 7 kilograms of lithium, and 12 kilograms of cobalt. According to statistics from the European Commission (EU Commission), during the second decade of the 21st century, the European battery market will consume about 250 billion euros (US$293 billion) worth of battery products. Most of these batteries are currently They are all produced in Asia. The European Commission encourages European companies to produce batteries, and there are many ongoing battery production projects. Similarly, the European Union also encourages the use of raw materials produced in a sustainable manner, and Latitude 66 Cobalt Mining Company is also using this strategic policy of the European Union for marketing.
“We have the opportunity to invest in the mining industry in Africa, but that is not something we are willing to do. For example, I don’t think large automakers will be satisfied with the current situation,” said Russell Delroy, a member of the company’s board of directors. Said in a statement. (Global Geology and Mineral Information Network)