Neptune Energy has confirmed lithium resources of 43 million tons of lithium carbonate equivalent (LCE) in Germany’s Altmark region, positioning the area as one of the world’s largest project-based lithium deposits and a future cornerstone of Europe’s battery supply chain.
The updated assessment, carried out with independent valuation agency Sproule ERCE, refines earlier estimates of 70 million tons of LCE announced by Neptune earlier this year. Despite the downward revision, the confirmed figure secures Altmark’s standing as a major resource, capable of supporting commercial extraction on a scale that could supply around 500,000 electric vehicles annually.
“This new assessment underscores the great potential of our licence areas in Saxony-Anhalt. This enables us to contribute significantly to the German and European supply market for the critical raw material lithium,” said Andreas Scheck, CEO of Neptune Energy.
Neptune has been testing direct lithium extraction (DLE) technology in the Altmark region since June, launching a pilot project in Steinitz using brine from existing gas wells and ion-exchange processes with its partner Lilac Solutions. A second pilot plant has since been commissioned to evaluate multiple DLE methods, and the company has already succeeded in producing battery-grade lithium carbonate.
The company now holds three exploration licences in the Altmark – Mile A-L, Milde C-L, and Milde B-L – as well as the Jeetze-L production licence. Neptune plans to transition from pilot testing to commercial extraction in the coming years.
Germany is ramping up efforts to secure raw material supply for its automotive sector, which hosts some of the world’s largest carmakers. Alongside Altmark, the country’s other key lithium projects include Zinnwald Lithium’s planned mine in the Ore Mountains and Lithium Energy’s work in the Upper Rhine Graben.
