REG - Metals One PLC - Application for EU Strategic Project Designation

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RNS Number : 9600O  Metals One PLC  15 January 2026

15 January 2026

 

Metals One Plc

("Metals One" or the "Company")

 

Application for EU Strategic Project Designation for Black Schist Ni-Cu-Co-Zn
Project, Finland

 

Further to the Preliminary Economic Assessment announced on 31 January 2025,
Metals One (AIM: MET1, OTCQB: MTOPF), a critical and precious metals
exploration and development company, is pleased to announce it has formally
applied to the EU for Strategic Project designation for the Company's Black
Schist Ni-Cu-Co-Zn Project in Finland. The application has been made pursuant
to the Critical Raw Materials Act, which seeks to establish a framework for
ensuring a secure and sustainable supply of critical raw materials.

 

Highlights of Basis of Application

 

Project Summary & Strategy Recap

 

The Black Schist Project comprises the Rautavaara ("R1") and Paltamo ("P5")
deposits in eastern Finland, near the regional mining centre of Sotkamo and
supported by excellent transport and power infrastructure. Metals One holds
100% of the licences through its wholly owned subsidiary and acquired the
project in 2023, commissioning CSA Global to prepare a Competent Persons
Report, including a Mineral Resource Estimate for R1. The project is located
within the economically significant Kainuu Schist Belt, which hosts
Talvivaara-style black schist mineralisation - one of Europe's lowest-cost and
most environmentally attractive sources of Ni-Zn-Co-Cu battery metals.

 

On listing, Metals One secured low-risk exploration licences across the belt,
including an existing JORC Inferred Resource of 28.1 Mt at R1 and a JORC
Exploration Target of 16-25 Mt at P5. The Company's strategy focuses on
rapidly growing resources by refining a geological and geophysical
prospectivity model, expanding and upgrading R1 and P5 through drilling, and
identifying new targets. In late 2023, an eight-hole, 1,548 m drill programme
at the R1 Hook anomaly refined the model and highlighted potential resource
extensions, with early results already guiding further target generation,
including the K1 prospect at Korpimäki.

 

Purpose of Designation

 

For the purposes of designation under the Critical Raw Materials Act, the R1
deposit constitutes the Strategic Project core asset of the Black Schist
Project.

 

The designation is sought to support the advancement of R1 from Preliminary
Economic Assessment ("PEA") to Pre-Feasibility Study ("PFS") and subsequent
permitting, enabling near-term de-risking of EU-based extraction capacity for
strategic raw materials, notably cobalt and copper, with nickel produced as a
strategically relevant co-product.

 

Basis for Prioritisation

 

R1 has been prioritised based on the following PEA-supported factors:

 

·    Demonstrated positive economics at PEA level, including a post-tax
NPV at both 5% and 8% discount rates as announced on 31 January 2025

·    Established JORC-compliant Inferred Mineral Resource constrained by
reasonable prospects for eventual economic extraction

·    Proximity to established Finnish processing infrastructure and
technical precedent

·    Manageable environmental and permitting risks that are identifiable
and capable of early mitigation

 

P5 is excluded from the initial Strategic Project scope and is considered a
contingent, medium-term optional expansion subject to future optimisation and
market conditions.

 

Strategic Intent

 

Strategic Project designation is intended to:

 

·    Support structured and coordinated permitting for the Rautavaara
deposit

·    Facilitate engagement with EU institutions, Member State authorities
and potential downstream counterparties

·    Enable access to EU-aligned de-risking, financing and technical
assistance mechanisms

·    Preserve optionality for future expansion without diluting near-term
strategic focus

 

Project Relevance

 

In 2023, global nickel production was reported to be over 3.3 Mt, an increase
of over 10% from 2022, of which Indonesia and the Philippines account for over
60%. By contrast, negligible amounts of nickel are currently produced in
Europe. Although nickel does not currently qualify as a critical raw material
in the EU, the US Geological Survey added nickel (and zinc) to its critical
minerals list in 2022, meaning that the metal is now considered to be
essential to the economic security of the US. Despite not qualifying for the
EU list, analysis still identified nickel to be of material economic
importance to the EU as a Strategic Raw Material and, since the start of Q2
2022, Indonesia (the largest global producer) has banned the export of
unprocessed nickel ores to ensure that ores are processed domestically as
opposed to being exported and processed offshore. Given these relatively
recent developments in the nickel market, producing the metal domestically
within the EU becomes an ever more critical goal.

 

The PEA highlights the opportunity for the Company's Black Schist Project to
make a meaningful contribution to the security of the EU's supply of this
strategic material.

 

Daniel Maling, Managing Director of Metals One, commented:

 

"Access to raw materials is essential for the EU's economy and the functioning
of the internal market. The Black Schist Project is a multi-metal extraction
project potentially contributing to the Union's security of supply for several
Strategic Raw Materials.

 

Strategic Project designation would provide several key advantages that could
aid in the project's development and long-term success, including but not
limited to enhanced access to project financing, including eligibility for
funding from EU programmes, and streamlined permitting processes.

 

Given the key role of many critical raw materials in realising the green and
digital transitions, and considering their use for defence and aerospace
applications, demand is likely to increase exponentially in the coming
decades. Further, risk of supply disruptions is increasing against the
background of rising geopolitical tensions and resource competition. We
believe our Black Schist Project can contribute a stable and secure resource
of strategic and critical metals to the EU market."

 

Enquiries:

 

 Metals One Plc                                info@metals-one.com (mailto:info@metals-one.com)

 Daniel Maling, Managing Director              +44 (0)20 7981 2576

 Craig Moulton, Chairman

 Beaumont Cornish Limited (Nominated Adviser)  +44 (0)20 7628 3396

 James Biddle / Roland Cornish
 Oak Securities (Joint Broker)                 +44 (0)20 3973 3678

 Jerry Keen / Calvin Man
 Capital Plus Partners Limited (Joint Broker)  +44 (0)207 432 0501

 Jonathan Critchley
 Vigo Consulting (UK Investor Relations)       IR.MetalsOne@vigoconsulting.com +44 (0)20 7390 0230

 Ben Simons / Fiona Hetherington

 

About Metals One

 

Metals One is pursuing a strategic portfolio of critical and precious metals
projects and investments underpinned by the Western World's urgent need for
reliably and responsibly sourced raw materials - and record high gold prices.
Metals One's shares are listed on the London Stock Exchange's AIM Market
(MET1) and on the OTCQB Venture Market in the United States (MTOPF).

 

Map of Metals One projects/investments

 

 

Follow us on social media:

 

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(https://www.linkedin.com/company/metals-one-plc/)

X: https://x.com/metals_one_PLC (https://x.com/metals_one_PLC)

 

Subscribe to our news alert service on the Investors page of our website at:
https://metals-one.com (https://metals-one.com/)

 

Market Abuse Regulation (MAR) Disclosure

 

The information set out below is provided in accordance with the requirements
of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms
part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018
('MAR').

 

Nominated Adviser

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

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