Vulcan Energy has strengthened the technical case for its German lithium and geothermal project, while Kingsrose Mining and Latitude 66 have advanced exploration initiatives targeting platinum-group metals, gold, cobalt, nickel and copper in Finland. The developments highlight the importance of technical validation, permitting and resource growth for Europe’s domestic critical-minerals supply.
Vulcan Energy Strengthens Lithium Project Bankability
Vulcan Energy has demonstrated brine reinjection capacity around 60% above design assumptions at its Lionheart lithium and geothermal project in Germany.
The LSC-3a well achieved an estimated injection capacity of 64 litres per second, compared with the planned 40 litres per second, reaching a measured depth of 3,743 metres in Germany’s Upper Rhine Valley. The result supports a key technical assumption behind Lionheart’s integrated system, which extracts lithium-bearing brine, processes it at the surface and reinjects it underground. Reliable reinjection is essential for maintaining reservoir pressure and sustainable long-term production.
Vulcan has completed seven of 28 planned wells. The project is designed to produce approximately 24,000 tonnes of lithium hydroxide monohydrate annually, alongside renewable electricity and geothermal heat, with a targeted operating life of around 30 years.
One successful well does not eliminate reservoir risk. Performance must be demonstrated across the wider wellfield, with consistent pressure behaviour, reservoir connectivity and brine chemistry. The next milestones include the LSC-4 and LSC-5 reinjection wells, further drilling and refinement of the reservoir model. Consistent results could reduce technical uncertainty and support financing discussions as Lionheart moves towards commercial development.
Kingsrose Secures Permit for Finnish PGM Exploration
Kingsrose Mining has obtained an exploration permit and enforcement order for Area 6 of its Penikat platinum-group-metals project in Finland, establishing a potential route to resume drilling in January 2027.
The permit authorises up to 5,000 metres of drilling, while the enforcement order allows a restricted programme of up to 3,000 metres annually during appeals.
Granted by Finland’s mining authority, Tukes, the approvals remain subject to potential legal challenges. Kingsrose must maintain drilling buffers of approximately 100–200 metres from protected areas, depending on ground conditions. The appeal deadline is November 20, 2026. The permit is initially valid for four years after becoming legally binding, with possible extensions.
Penikat is being explored for platinum-group metals, nickel and copper, which serve automotive, industrial and electrification markets. However, the project remains at the exploration stage, and further drilling must establish whether mineralisation has sufficient grade, continuity and scale to support a compliant resource. The enforcement order could help limit delays, but appeals may still affect drilling schedules or operating conditions. Once permitting uncertainty is addressed, the investment case will depend increasingly on geological results.
Latitude 66 Targets Gold-Cobalt Resource Expansion
Latitude 66 has started a 2,500-metre diamond drilling programme at its Kuusamo Schist Belt project in northern Finland, aiming to expand its gold-cobalt resource ahead of further prefeasibility work.
The project contains an estimated 7.3 million tonnes grading 2.7 g/t gold and 0.08% cobalt, equivalent to approximately 650,000 ounces of gold and 5,840 tonnes of contained cobalt. Around 90% of the resource is classified as Indicated. The K1 deposit accounts for approximately 510,000 ounces of gold and 5,010 tonnes of cobalt.
Drilling is targeting an electromagnetic conductor extending 320 metres along strike and 650 metres down-dip. Previous drilling returned an intersection of 5.6 metres grading 7.3 g/t gold. The current programme will test whether mineralisation extends beyond the existing resource boundaries. Additional mineralisation could improve mine-life assumptions and influence the proposed combination of open-pit and underground mining, alongside processing and infrastructure decisions.
Cobalt also adds strategic relevance as Europe seeks to diversify its battery and industrial metals supply. Its economic contribution will depend on demonstrating that it can be recovered into a saleable product without significantly increasing processing costs or compromising gold recovery. Assay results are the next key milestone. Successful drilling could provide Latitude 66 with a larger resource base for the next stage of technical and economic assessment.
Technical and Geological Milestones Shape Investment Potential
The three projects represent different stages of critical-minerals development. Vulcan is validating reservoir performance, Kingsrose is addressing permitting requirements, and Latitude 66 is pursuing resource expansion.
None of these milestones alone confirms commercial viability. Vulcan must demonstrate consistent wellfield performance, Kingsrose must establish the quality of Penikat’s mineralisation, and Latitude 66 must show that resource growth can support an economically viable development. Their progress nevertheless highlights the role of lithium, gold, cobalt, nickel and platinum-group metals in Europe’s efforts to strengthen domestic mineral supply chains.
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