Iondrive Targets 98.6% Cobalt Recovery on Finnish Mining Concentrates

A New Frontier for DES Technology

Iondrive Limited, an emerging player in sustainable metal extraction, has taken a significant leap by signing a binding term sheet with LAT66 Limited to apply its proprietary Deep Eutectic Solvent (DES) technology to cobalt-rich concentrates from LAT66’s Kuusamo projects in Finland. This collaboration represents the first time Iondrive’s DES platform will be tested on virgin mining concentrates, marking a pivotal expansion beyond its established battery recycling applications.

Previously, Iondrive demonstrated an impressive 98.6% cobalt recovery rate from battery black mass, validating the efficiency and selectivity of its environmentally friendly extraction process. Now, by venturing into primary mineral processing, the company aims to showcase DES’s versatility and potential to disrupt traditional hydrometallurgical and pyrometallurgical methods, which often rely on high temperatures and aggressive chemicals.

Strategic Importance of the Kuusamo Cobalt Deposit

LAT66’s Kuusamo projects are home to one of Europe’s largest undeveloped cobalt deposits, a metal critical to the continent’s burgeoning battery and electric vehicle industries. Situated strategically within Europe, this resource offers a vital opportunity to strengthen the regional supply chain for critical minerals, reducing reliance on imports from geopolitically sensitive regions.

The testing of metallurgical core samples from Kuusamo using DES technology will feed directly into LAT66’s feasibility studies as it advances the mine towards production. This partnership not only underscores the growing demand for sustainable and efficient mineral processing technologies but also aligns with broader European initiatives to secure critical raw materials domestically.

Commercialisation and Future Prospects

For Iondrive, this agreement broadens its commercialisation pathway significantly. While the company’s pilot plant for battery black mass recycling remains on track for commissioning by the end of 2025, the move into virgin concentrate processing opens new markets and revenue streams. The DES technology’s tuneable chemistry and lower environmental footprint could position Iondrive as a key player in both recycling and primary extraction sectors.

Both companies have committed to negotiating definitive binding commercial agreements within the next 24 months, with intellectual property rights carefully delineated to protect Iondrive’s proprietary process. This measured approach allows for thorough testing and validation before scaling up, reflecting the cautious optimism surrounding this innovative technology.

As the global race for critical minerals intensifies, partnerships like this highlight the intersection of technology innovation and strategic resource development. Iondrive’s DES platform could well become a cornerstone in Europe’s quest for sustainable and secure cobalt supply.