European Metals Holdings Ltd. has secured regulatory approval for its flagship Cinovec lithium project in the Czech Republic, moving the project one step closer towards production.
The Ústí nad Labem Regional Assembly voted to support the project’s regional rezoning application, which defines the project’s areas and corridors for lithium mining and processing, including corridors for utility supply developments.
The rezoning also defines the area for storage and processing of materials from mining activities and the treatment of lithium concentrate at Prunéřov processing plant site.
European Metals Chairman Keith Coughlan said: “With the rezoning, the excellent definitive feasibility study which was recently released and the benefits from considerable financial support with the recent EU and Czech government grants, the cornerstones are now in place for the rapid advancement of the Cinovec Project towards final investment decision and ultimately, production.”
Cinovec hosts the largest lithium resource in Europe and one of the largest undeveloped tin resources in the world. A pre-feasibility study in 2022 indicated that Cinovec has the potential to be the lowest cost hard rock lithium producer in the world.
A definitive feasibility study confirms the project’s potential to become a cornerstone supplier for European battery manufacturing.
Cinovec is expected to have an annual production of 37,500 tonnes of battery-grade lithium carbonate, which is enough to support the production of more than 900,000 50kWh electric vehicle batteries annually.
The project has been recognised at both the European and national levels as essential to the energy transition. It was declared as a strategic project by the European Commission, granting access to accelerated permitting and funding.
The Czech government granted Cinovec a €360 million (AU$600 million) grant, one of the largest direct project-level funding commitments to a critical raw materials project in the European Union