Leadership Shifts and Funding Hurdles Ahead for Kuniko’s Green Battery Metals Push

Kuniko’s Strategic Push for Sustainable Battery Metals

Kuniko Limited, an ASX-listed mineral exploration company, has taken a significant step towards establishing a low-carbon, ethically sourced battery metals supply chain for Europe. The company has submitted an application for approximately NOK 60 million (around A$9 million) in funding under the Norwegian Green Platform Initiative. This funding would support the ambitious Min2Mob (‘From Mine to Mobility’) project, a multi-partner research and development collaboration focused on producing battery-grade nickel, cobalt, and copper from Norwegian resources.

The Min2Mob project is designed to leverage Norway’s abundant renewable energy, high environmental standards, and rich mineral deposits to create a traceable and sustainable supply chain. Kuniko’s key assets, including the 40-million-tonne Ertelien nickel-cobalt-copper deposit and the Skuterud cobalt project, will provide the raw materials. The initiative aims to reduce carbon emissions dramatically across the entire value chain, from exploration and mining to processing and end-product validation.

Innovative Collaboration and Industry Backing

Min2Mob brings together a consortium of ten Norwegian and European partners, combining expertise from industry leaders and research institutions. Notably, Stellantis, a global automotive giant and Kuniko’s largest shareholder, is a strategic partner in the project. Stellantis holds offtake rights to 35% of the nickel and cobalt produced and will assist in validating the battery materials for electric vehicle applications.

The project emphasizes cutting-edge technologies such as AI-driven exploration, low-impact mining techniques, and advanced hydrometallurgical refining processes. These innovations aim to achieve over 90% reductions in CO₂ emissions compared to current global benchmarks, aligning closely with EU and Norwegian strategies for energy transition and raw material independence.

Corporate and Operational Developments

Alongside the funding application, Kuniko announced several leadership changes. Non-executive directors Birgit Liodden and Bruno Piranda have stepped down, with Stellantis preparing to nominate a new director. Chief Operating Officer Mona Schanche will transition to a consulting role, continuing to lead Norwegian operations and strategic partnerships.

Reflecting its evolving global strategy, Kuniko will relocate its corporate headquarters to Perth, Western Australia. This move positions the company closer to key stakeholders while maintaining operational focus on its European projects.

Positioning for Europe’s Energy Future

Europe’s battery market is rapidly expanding but remains heavily dependent on imports of critical metals, often sourced through environmentally and ethically questionable supply chains. Kuniko’s Min2Mob project aims to fill this gap by providing a locally sourced, sustainable alternative that meets stringent environmental, social, and governance (ESG) criteria.

CEO Antony Beckmand highlighted the project’s potential to transform the battery metals supply chain by integrating upstream resources, innovative processing, and downstream industrial validation. The initiative not only supports the EU’s Critical Raw Materials Act but also advances Norway’s national battery and mineral strategies, reinforcing the continent’s push for energy security and sustainability.