Latitude 66 Ltd is an Australian mineral exploration and mine development company with operations in Finland. The company listed on the Australian stock exchange ASX in 2024.
The company aims to open cobalt-gold mines in Kuusamo and Posio, as well as a centralized beneficiation plant. The combination of gold and cobalt in the same ore is rare, but economically and strategically significant.
Cobalt is one of the metals classified by the EU as both strategic and critical. This is due to cobalt’s role in enabling the green transition and the importance of cobalt to the aerospace and defense industries. Today, China controls about 80% of global cobalt value chains.
The high concentration of gold in the ore brings economic stability to future mining operations and enables cobalt to be produced through price cycles.
