JOHANNESBURG (miningweekly.com) – Australia’s Berkut Minerals has been granted a licence for an advanced, near-mine exploration opportunity in northern Sweden, the company announced on Wednesday.
Located on the north-west end of the Skellefteå mineral belt, the Lainejaur project includes an historic nickel, cobalt, copper mine, which was discovered in 1941 and which was brought into production to supply nickel for Sweden during World War II. When the mine closed at the end of the war in 1945, it had two shafts extending to 213 m below the surface and had produced 100 526 t of ore at 2.21% nickel, 0.1% cobalt and 0.93% copper.
The Lainejaur project was largely underexplored from 1945 to 2002, when a subsidiary of Toronto-based miner Lundin Mining secured the property before optioning it to Blackstone Minerals. Drilling by Blackstone in 2007 and 2008 culminated in the definition of a National Instrument 43-101-compliant inferred resource of 645 000 t at 1.33% nickel, 0.09% cobalt and 0.66% copper.
Berkut MD Neil Inwood said that the Lainejaur project could be tested by down-hole geophysics and drilling. “There is massive and semi-massive sulphide mineralisation open at depth in an untested extension up to 1.5 km in length. Additionally, our substantial landholding in the surrounding area will allow us to explore for repeats of the known mineralisation. Lainejaur is only 15 km from the industrial centre of Malå,” he added.
Berkut has two projects in southern Sweden – the Gladhammar and Tunaberg project, over a combined area of 300 ha. Both districts contain historic, cobalt-dominant mine workings from the fifteenth and nineteenth centuries, untested by modern exploration methods.
Berkut is focusing on cobalt projects in Europe to tap into the growing demand for lithium-ion batteries, which use cobalt in their production.
Europe is positioning itself to be a leader in lithium-ion vehicle manufacture and use. The French government recently announcement that it would outlaw the sale of all petrol and diesel vehicles by 2040. Vehicle manufacturer Volvo will offer electric options on its entire vehicle fleet by 2019.
Several lithium-ion battery manufacturing facilities are currently under construction in a number of European countries.
Most of the world’s cobalt originates in the Democratic Republic of Congo, but there are serious concerns about how cobalt is mined in that country. Public demand for ethically sourced tech materials is expected to increase, driving producers to seek supply from secure and stable jurisdictions.