EU support of 2.1 million euros for Betolar

Betolar informs that the company has been granted a grant of 2.1 million euros in the Minerva project (Mineral efficiency, recovery and valorisation in the Arctic) financed by the EU Life program.

Betolar participates in the project in the role of a technology supplier. The project does not change the financial guidance previously given by Betolar.

In the project, new solutions are developed and piloted to enhance the recovery of raw materials and to reduce the amount of waste in Arctic conditions.

The total cost estimate of the project is about 8.8 million euros, of which the support portion of the European Union’s Life program is about 5.3 million euros.

Betolar’s share of the total costs is 3.4 million euros, of which the support is 2.1 million euros. The estimated duration of the project is about three and a half years. The support will be raised during the project.

Less waste, more metal

Betolar’s role in the project is based on the metal separation technology developed by the company. It enhances the recovery of metals and minimizes the amount of waste.

The project will be implemented in the Sokli mining area in Eastern Lapland. It focuses on mining and mineral processing solutions based on the circular economy, developing water use and water management, and reducing the amount of mining waste and environmental risks.

“Participating in the project strongly supports Betolar’s strategic goals, demonstrating the functionality of the metal separation technology we have developed in practice. The project accelerates the progress of the technology’s proof of concept phase and creates a foundation for building a new, circular economy-based business”, CEO Tuija Kalpala said in the announcement.