Latitude 66 and Iondrive Team Up to Revolutionize Cobalt Refining in Finland

A Strategic Partnership for Cleaner Cobalt Processing

Latitude 66 Limited (ASX – LAT) has taken a significant step forward in refining its cobalt resources by entering into a binding agreement with Iondrive Limited (ASX – ION). The collaboration centers on deploying Iondrive’s proprietary Deep Eutectic Solvent (DES) technology to upgrade cobalt concentrates extracted from Latitude 66’s KSB Project in northern Finland. This move aligns with broader industry trends seeking more sustainable and cost-effective methods to process critical minerals.

The DES technology offers a promising alternative to traditional refining techniques by using biodegradable inorganic solvents in a closed-loop system. This approach aims to reduce waste and energy consumption while selectively extracting valuable metals, a crucial advantage given the growing demand for responsibly sourced cobalt in European supply chains.

From Lab to Potential Commercial Scale

The initial phase of the partnership involves lab-scale testing of representative flotation concentrates provided by Latitude 66. Scheduled to commence in the first quarter of 2026, this stage will assess the pretreatment and selective upgrading capabilities of the DES process. Following the laboratory work, a comprehensive techno-economic assessment will evaluate the commercial viability of scaling the technology.

Latitude 66 will support the evaluation with engineering expertise and site access in Finland, signaling readiness to advance to pilot or full-scale operations if results prove favorable. Both companies have expressed intent to negotiate binding supply and co-location agreements, which would mark a significant milestone in integrating innovative refining technology within a tier-1 European mining jurisdiction.

Implications for European Critical Minerals Supply

Managing Director of Latitude 66, Grant Coyle, highlighted the strategic importance of this collaboration, emphasizing the potential to enhance cobalt supply chains critical to Europe’s industrial future. Similarly, Iondrive’s Managing Director, Dr. Ebbe Dommisse, underscored the opportunity to demonstrate how DES technology can deliver cleaner, more efficient processing at scale, supporting resilient and sustainable mineral supply networks.

This partnership not only reflects a shared commitment to environmental stewardship but also positions both companies at the forefront of innovation in the critical minerals sector. As global demand for cobalt intensifies, particularly for battery and clean energy applications, breakthroughs in refining technology could prove decisive in securing supply chain stability and meeting sustainability targets.

Looking Ahead

The coming months will be pivotal as Latitude 66 and Iondrive embark on their testwork program. Success could unlock new pathways for commercial collaboration and licensing, potentially reshaping how cobalt concentrates are processed in Europe. Investors and industry watchers will be keenly observing the outcomes of these trials, which may set a benchmark for future critical minerals projects.