31 July 2025 at 8:15 a.m. EEST
Betolar Plc
Press release

Betolar develops low-carbon mining solution for Mandalay Resources and enters Australia's leading mining market

Canadian resource company Mandalay Resources and Betolar Plc have signed a commercial agreement to develop a cementless rockfill solution for the Costerfield gold-antimony mine in Australia.  Australia is one of the world's most significant mining countries, with nearly 60% of its export value derived from mineral exports. Consequently, the requirements for cost-effective, technologically advanced, and sustainable solutions in mining are exceptionally high.

Betolar's solution, leveraging on its unique expertise on industrial sidestreams, will replace conventional cement in rockfill solutions in a cost-efficient and CO₂-reducing way. The companies aim to commercialize the solution by early 2026, based on the results of a techno-commercial study and piloting.

"With Mandalay Resources, we can demonstrate the added value of our cementless rock filling solution in one of the world's leading mining markets with particularly high requirements. Our solution enables up to 80% lower carbon dioxide emissions compared to a traditional cement-based solution," says Jyri Talja, Betolar's Chief Growth Officer.

"Mandalay Resources is committed to operating in an environmentally responsible manner. Betolar's new innovative rockfill solution aligns well with our sustainability values and offers a cost competitive way for us to lower carbon emissions", says Dylan Goldhahn, Technical Services Superintendent at Mandalay Resources.

The collaboration with Mandalay Resources paves the way for Betolar to enter the Australian market and further strengthens Betolar's recognition among international players in the mining industry. The mines are significant producers of industrial sidestreams and major cement users, providing Betolar with excellent business opportunities in the circular economy value chain.

"The commercial agreement with Mandalay Resources opens the door to Australia's leading mining market and strengthens our position as a developer of low-carbon solutions for major mining projects. The mining industry globally seeks low-carbon and cost-effective alternatives to cement, and solutions proven successful in Australia will guide mining industry development worldwide," says Tuija Kalpala, President and CEO of Betolar.

Further enquiries:

Tuija Kalpala, President and CEO, Betolar Plc, tel. +358 50 567 6608, tuija.kalpala@betolar.com

Dylan Goldhahn, Technical Services Superintendent, Costerfield Operations, tel: +61 354310467, D.Goldhahn@mandalayresources.com.au 

About Betolar Plc

Betolar is a circular economy enabler and materials technology specialist, providing innovative solutions to help use industrial sidestreams to produce low-carbon and cement-free products for the mining and construction sectors. Betolar's mission is to help reduce carbon emissions and the use of virgin resources in mining and construction.

Betolar's circular economic innovations significantly reduce CO2 emissions from cement use and the use of virgin raw materials by utilizing industrial sidestreams. Betolar is continuously developing its low-carbon solutions for the mining, metals and construction industries, utilizing its AI-based data platform, analytics services, and know-how on industrial sidestreams and wastes. Additionally, Betolar has recently developed a method for recovering valuable, critical and strategic metals and has combined this technology for simultaneous production of green cement.

Betolar was founded in 2016 and is domiciled in Kannonkoski, Finland. Betolar is listed on the Nasdaq First North Growth Market. For more information www.betolar.com.

About Mandalay Resources

Mandalay Resources is a Canadian-based resource company with producing assets in Australia (Costerfield gold-antimony mine) and Sweden (Björkdal gold mine). The Company is focused on growing its production and reducing costs to generate significant positive cash flow. Mandalay is committed to operating safely and in an environmentally responsible manner, while developing a high level of community and employee engagement.