MINEX Forum

Tag: European Lithium

  • European Lithium: Advancing Lithium and Rare Earth Projects with Saudi Collaboration

    European Lithium: Advancing Lithium and Rare Earth Projects with Saudi Collaboration

    European Lithium forges ahead with lithium and rare earth projects in tandem with a Saudi Arabian lithium refinery.

    European Lithium Ltd has made significant strides over the last quarter, advancing its lithium projects in Austria and Ireland, a rare earth project in Greenland, and a lithium refinery initiative in Saudi Arabia.

    The company has also appointed George Karageorge as the new Executive General Manager of Exploration. Additionally, European Lithium received confirmation from the Carinthian state government that an Environmental Impact Assessment (EIA) will not be required for the Wolfsberg Lithium Project. Furthermore, the company has completed technical studies and planning for an energy supply corridor in Austria.

    Leinster Lithium Project Acquisition in Ireland

    In November last year, European Lithium completed the acquisition of the Leinster Lithium Project in Ireland from Technology Metals plc (TM1). The transaction involved the transfer of 1,371,742 shares in 74%-owned subsidiary Critical Metals Corp (NASDAQ: CRML) to LRH Resources Limited, a subsidiary of TM1. The acquired project lies within the East Carlow Deformation Zone, a key structural trend associated with lithium-bearing pegmatite deposits.

    Currently in the early exploration phase, the Leinster Project has identified spodumene-bearing pegmatites in surface material and conducted drilling in 2023. The company plans further exploration in Q2 2025, starting with sampling and drilling across key target areas.

    Wolfsberg Lithium Project in Austria

    European Lithium’s Wolfsberg Lithium Project received confirmation from the Carinthian state government that an EIA will not be required, expediting the project’s development by simplifying regulatory approvals. The Wolfsberg Project has a long-term supply agreement with BMW AG for the delivery of battery-grade lithium hydroxide. Additionally, the project has completed planning for an energy supply corridor in collaboration with Austrian energy provider KELAG, with construction expected to begin in the first half of 2025.

    Tanbreez Rare Earths Project in Greenland

    EUR subsidiary Critical Metals Corp continued exploration work at the Tanbreez Rare Earths Project in Greenland. The company completed a 16-hole diamond drilling programme, with initial results confirming high-grade rare earth elements. Assays show an average of 4,722.51 ppm total rare earth oxides (TREO), with 26.96% classified as heavy rare earth oxides (HREO). Additional results include 101.67 ppm gallium oxide (Ga₂O₃), 1,852.22 ppm niobium pentoxide (Nb₂O₅), and 130.92 ppm tantalum pentoxide (Ta₂O). Geological studies have identified four high-grade mineralisation zones within the deposit, with potential to increase future production capacity. The Greenland government has extended certain deadlines under the Tanbreez Project’s exploitation licence, requiring mining operations to commence by 2028.

    Saudi Arabia Lithium Refinery Development

    European Lithium is advancing plans for a lithium refinery in Saudi Arabia through Arabian New Energy Corp, a joint venture with Obeikan Investment Group. Hatch Ltd, a global engineering firm, has been appointed to design the facility, which is expected to produce up to 20,000 metric tons of battery-grade lithium hydroxide per year. Representatives from Critical Metals Corp and Obeikan Investment Group visited two lithium hydroxide plants in China in December 2024 to gain technical insights into refinery operations.

    Additional Exploration Activities

    European Lithium is also progressing additional exploration projects:

    • Austrian Lithium Projects: Geological mapping and sampling continue at the Bretstein-Lachtal, Klementkogel, and Wildbachgraben projects. Three drill holes, totalling approximately 220 metres, are planned near Quarry Ebner.
    • Western Australia: Exploration licence E47/4144 is advancing through the regulatory application process under the WA Mining Act.
    • Ukraine: The company is monitoring the geopolitical situation and has paused fieldwork at its Dobra and Shevchenkivske lithium projects.

    As of 29 January 2025, European Lithium holds more than 66.4 million shares in Critical Metals Corp. Based on a closing price of US$8.07 per share, this investment is valued at approximately US$535.98 million (A$857.57 million).

  • European Lithium Secures Leinster Project, Strengthens Leadership

    European Lithium Secures Leinster Project, Strengthens Leadership

    European Lithium has successfully acquired LRH Resources, the operator of the Leinster lithium project in Ireland, from UK-based Technology Minerals. The Leinster project encompasses an extensive area south of Dublin, with 15 prospecting licenses covering 477 km² and an additional eight licenses spanning 284 km². Notably, the region includes several lithium-bearing spodumene pegmatites across its northern and southern blocks.

    As part of the agreement, European Lithium will issue 1.37 million shares in Critical Metals Corp to Technology Minerals, with a lock-up period lasting until February 28, 2025.

    Chairman Tony Sage highlighted that this acquisition aligns with the company’s strategy to expand its presence in the European lithium market. He stressed the significance of the deal in supporting the European Union’s sustainability goals, securing supply chains for critical minerals crucial for the transition to a low-carbon economy. Sage also emphasized the strategic value of their investment in Critical Metals Corp, which facilitated the acquisition.

    To bolster its exploration efforts, European Lithium has appointed George Karageorge, an experienced geologist and international mining executive, as its Executive General Manager of Exploration. Karageorge brings a proven track record of advancing mining projects from exploration to production, having collaborated with several ASX and TSX-listed companies. His leadership is expected to enhance the company’s exploration and development activities in Europe.

    European Lithium, which also owns the Wolfsberg lithium project in Austria, aspires to become Europe’s first local lithium supplier, playing a vital role in the region’s integrated battery supply chain. The company’s strategic positioning aims to address the surging demand for lithium across Europe, solidifying its status as a key player in the sector.

     

  • European Lithium’s Nasdaq Surge and Future Outlook

    European Lithium’s Nasdaq Surge and Future Outlook

    The ascent of Critical Metals Corp. (CRML) on the Nasdaq exchange has been truly remarkable. With a remarkable surge of more than 26% in a single trading day, CRML concluded at an impressive US$13.03, causing ripples throughout the market. This surge, coupled with a substantial turnover exceeding A$1 million, highlights the strong interest and confidence surrounding CRML’s initiatives. Leading this narrative is European Lithium Ltd (EUR), which recently joined forces with Sizzle Acquisition Corp, positioning itself at the forefront of this growing story. This strategic merger not only enhances EUR’s market presence but also lays the groundwork for potential value appreciation for its investors. Despite CRML’s remarkable success, Barry Dawes of Martin Place Securities points out a disparity between CRML’s performance and EUR’s current share price, hovering around A$0.078. Dawes suggests that EUR’s market capitalization of US$1.064 billion significantly undervalues its inherent potential, given CRML’s trajectory. He argues that EUR shares should reasonably be at least five times higher to mirror CRML’s performance, indicating a considerable value disparity that needs addressing. At the core of European Lithium’s strategic vision lies the development of the Wolfsberg Lithium Project in Austria. This ambitious initiative, now elevated to a pre-development stage, underscores EUR’s unwavering commitment to becoming a pivotal player in the European lithium-ion battery supply chain. With Critical Metals Corp. spearheading this transformative project, Wolfsberg emerges as a crucial asset poised to reshape the regional battery landscape. EUR’s chairman, Tony Sage, expresses confidence in the company’s path, citing access to US capital markets and the synergistic advantages of being listed on Nasdaq. He envisions Critical Metals as a cornerstone supplier in Europe’s burgeoning battery sector, with Wolfsberg playing a catalytic role in driving sustainable innovation. In a positive development, European Lithium Ltd recently settled APL and Okewood Pty Ltd, boosting investor confidence and removing potential obstacles to growth. This resolution, praised by EUR’s executive chairman Tony Sage as “very positive,” underscores the company’s dedication to creating a favourable environment for value enhancement. Sage’s optimism resonates with shareholders, as the elimination of uncertainties clears the path for unimpeded progress and strategic alignment. As European Lithium navigates the complexities of the global market, such resolutions serve as a testament to its resilience and steadfast commitment to delivering value to shareholders.

  • EU’s First Battery-Grade Lithium Mine: Critical Metals Leads the Way

    EU’s First Battery-Grade Lithium Mine: Critical Metals Leads the Way

    Critical Metals, a newly established company, is set to construct the European Union’s first battery-grade lithium mine, the Wolfsberg Lithium Project, located in Austria. The project is expected to become a significant source of battery-grade lithium concentrate, filling a critical gap in the European electric vehicle (EV) battery supply chain. The mine is uniquely positioned to capitalize on its location in the heart of the EV supply chain, minimizing environmental impact by repurposing a former Austrian government-constructed lithium mine containing a substantial amount of battery-grade lithium. Furthermore, European Lithium has entered into a Memorandum of Understanding (MOU) for a key customer arrangement with BMW AG, potentially creating one of the largest direct pre-pays from an original equipment manufacturer (OEM) in Europe’s lithium mining industry. A definitive feasibility study is expected in early 2023, aiming to supply lithium concentrate at a commercial scale and be economically viable. 

    The European Union has set targets to dig up, recycle, and refine lithium, cobalt, and other metals it needs for its green transition. However, the bloc faces challenges in achieving these goals due to a shortage of new money, high energy costs, and local opposition. The Critical Raw Materials Act (CRMA), due to enter force in early 2024, aims to reduce the EU’s reliance on China, which dominates global mineral processing and has already threatened EU supply with export curbs. The CRMA aims to speed up the granting of project permits, but other obstacles remain, such as the need for cheaper energy and EU financing. 

    Several European lithium mining and refining projects are poised to launch commercial operations next year, supported by a push among original equipment manufacturers (OEMs) to regionalize their battery supply chains and reduce dependence on imported material. Based on existing plans, Europe’s annual lithium processing capacity is set to reach approximately 650,000 mt/year by 2028, with more than 20 projects currently advancing their mining and refining operations toward full-scale commercial production. The growth of Europe’s domestic lithium industry comes amid growing concern about an impending global shortfall in the supply of graphite, copper, cobalt, and nickel.

  • European Lithium and Sizzle conclude business merger

    European Lithium and Sizzle conclude business merger

    European Lithium has finalized a strategic partnership with Sizzle Acquisition, resulting in the establishment of Critical Metals.

    This collaboration positions the Wolfsberg Lithium Project as the inaugural flagship asset of Critical Metals, with the company’s immediate focus on advancing the mine’s construction and commissioning.

    The successful conclusion of the transaction and subsequent listing of Critical Metals on the Nasdaq represent significant milestones in bolstering the development of this pivotal lithium asset, essential for Europe’s transition to green energy.

    As part of the agreement, European Lithium has received 67,788,383 ordinary shares in Critical Metals, securing the company’s status as the largest shareholder with an 83.03% stake in the issued capital.

    The estimated value of European Lithium’s investment in Critical Metals currently stands at $839 million (A$1.3 billion), based on the closing share price of $12.38 per share as of February 29, 2024.

  • European Lithium poised to become key player in production on the continent

    European Lithium poised to become key player in production on the continent

    European Lithium Ltd  is gaining traction in the lithium and rare earth sectors in its namesake target market, says Martin Place Securities, with a series of strategic initiatives placing it on a growth trajectory.

    The key drivers of this growth include the company’s Wolfsberg Lithium Project, a diverse portfolio that spans across Europe, and a listing on the Nasdaq.

    The company’s market capitalisation, as of January 30, stands at A$117 million.

    Revaluation due

    In its appraisal, Martin Place Securities suggests that the company’s stock is currently trading below its see-through asset backing of around A$0.80, indicating room for a substantial market revaluation.

    The report sets a value target of A$0.58 per share for European Lithium Ltd by the end of 2025.

    Martin Place Securities sees European Lithium as uniquely positioned to play a significant role in the European Union’s clean energy transition, especially with the EU’s target to phase in electric vehicles by 2035.

    The company’s diversified portfolio, strategic partnerships and involvement in critical mineral projects such as the Wolfsberg Lithium Project and the Tanbreez REE deposit, place it at the forefront of an industry poised for growth.

    Nasdaq milestone

    European Lithium’s flagship asset, the Wolfsberg lithium spodumene mining project, is slated for a Nasdaq listing, which is expected to impart a fully diluted value of A$0.61 per share, considerably enhancing the company’s market presence.

    The project, situated in Austria with a production capacity of 8.8ktpa LHM, is poised to become the first European Union producer of battery-grade lithium.

    A March 2023 definitive feasibility study (DFS) pointed to a net present value (NPV) of US$1,504 million, bolstered by high lithium hydroxide (LiOH) prices.

    “Wolfsberg would be one of the first operating lithium mines in Europe where EU regulations for the energy transition call for growing a major lithium industry to assist in the phasing in of electric vehicles there by 2035,” the report said.

    “BMW, recognising the need for security of supply, has entered into an offtake agreement with a US$15 million prepayment for all of the Wolfsberg Zone 1 output for its own battery manufacturing centre in Germany.”

    The company also has plans to access the largest lithium resource in Ukraine, which is also potentially one of Europe’s largest hard rock lithium resources.

    The report suggests that, following a resolution to the conflict in that country, an EU-Ukraine strategic partnership on critical raw materials could sponsor this development of the Shevchenkivske and Dobra deposits.

    Growth prospects in Austria and Ukraine

    The company is actively exploring additional lithium resource projects in Austria and is advancing towards acquiring significant lithium deposits in Ukraine.

    These ventures represent a strategic expansion and diversification of the company’s lithium asset portfolio.

    The lithium sector is showing signs of bottoming out, indicating a potential upswing that could benefit European Lithium’s strategic investments and market position.

    World’s largest REE deposit

    Along with its lithium exposure, European Lithium Ltd (ASX:EUR, OTCQB:EULIF) holds a 7.5% stake in the Tanbreez deposit in Greenland, touted as the world’s largest rare earth element (REE) deposit.

    The involvement in the Tanbreez REE deposit underscores European Lithium’s commitment to diversifying its portfolio in the critical minerals sector, aligning well with global trends and demands.

    This investment could yield a pass-through value potential of more than A$0.20 per European Lithium share, further enhancing the company’s asset base.

    The company is likely to target a Nasdaq listing for Tanbreez in 2025 to fund its development.

  • Swiss-Canadian lithium project in Bosnia to supply Mercedes, despite community opposition and ESG risks

    Swiss-Canadian lithium project in Bosnia to supply Mercedes, despite community opposition and ESG risks

    Swiss mining company Arcor and Canadian company Rock Tech have signed a partnership agreement that will include the distribution of lithium from Lopare in Bosnia and Herzegovina, and according to their claims supply Mercedes. Despite fierce local opposition. 

    “Lithium carbonate will be mined in an environmentally and socially responsible way at Arkor’s mine in Lopare, Bosnia and Herzegovina, and then Roc Tech will convert it into lithium hydroxide ‘Made in Germany’,” they announced, Klix.ba reported.

    Rock Tech is also building its first facility in Germany to produce lithium hydroxide for the battery and automotive industries from 2026. Among other things, the company has already signed sales contracts with the Mercedes-Benz group.

    In an exploration phase that has been ongoing since 2018, Arkor has confirmed deposits of lithium carbonate as well as boron, potassium and magnesium sulfate in a mine near Lopare. As Nicolas Trend, head of the Board of Directors of Arcor points out, the site is unique in the world in terms of its size and geological structure.

    Estimates are that in the Lopare area there are deposits of 1,5 million tons of lithium carbonate equivalent, 14 million tons of boron, 35 million tons of potassium and 94 million tons of magnesium sulfate.

    Local municipality community and public are against any mining exploration so it remains to be seen how the Swiss and Canadian developers plan to overcome this situation with fierce opposition from local citizens and start further project activities. Also remains the question on how will Mercedes shareholders react on supplier ESG issues on project location. 

  • Weardale Lithium launches public consultation on test scale lithium extraction plant

    Weardale Lithium launches public consultation on test scale lithium extraction plant

    Weardale Lithium is holding a community consultation event ahead of seeking planning permission to build a lithium extraction pilot plant.

    The company has been trialling the effectiveness of multiple direct lithium extraction (DLE) technologies to extract lithium from geothermal groundwater in Weardale, County Durham.

    The test scale facility would be located on the brownfield, former cement works at Eastgate, near Stanhope. It would involve groundwater being taken from existing high-specification wells to be transported via pipelines, negating the need for regular tanker movements on minor roads.

    Lithium is a critical raw material for electric vehicle batteries, but no commercial lithium production or refining currently takes place in the UK or Europe. Lithium produced and refined in the UK offers cost advantages, supply assurances and an environmental premium over foreign suppliers.

    The development of a pilot processing plant next to the wells ensures Weardale and the surrounding areas will receive the maximum economic benefit by ensuring processing is carried out on site.

    Initially, it is estimated the scheme will create 20 to 50 on site jobs plus additional employment within the local construction sector and supply chains.

    Scaling up to eventual commercial production could produce approximately 10,000 tonnes of lithium carbonate per year, creating around 125 jobs and generating an estimated £1bn of gross economic value for the region.

    Extraction from geothermal brines via DLE processes has been assessed by third parties to be more sustainable than alternative lithium sources. It is a low-impact, low-carbon and low-water usage method of extracting lithium from brines which Weardale Lithium intend to augment using renewable energy sources.

    The application site comprises four main parts:

    Two existing groundwater abstraction wells, south of the River Wear

    A new buried pipeline taking water from the wells to an existing gantry over the river.

    Pipeline gantry across the River Wear using the former conveyor bridge which previously took limestone from Eastgate Quarry to the former cement works. The pipelines will range from 75mm to 150mm in diameter.

    Construction of a pilot lithium processing plant on the former cement works site.

    The planning application is accompanied by comprehensive ecological, noise, air quality, highways, landscape, heritage, groundwater, surface water and flood risk assessments. For the first 12 months of the site’s operation, a Field Trials Stage will be conducted alongside the construction of the pilot plant.

    Stewart Dickson, CEO of Weardale Lithium, said: “Engaging with our neighbours, supporters and stakeholders is a key part of delivering a project that will generate both jobs and economic prosperity in the area whilst securing the supply of domestic lithium, which is of strategic importance to the UK’s net zero strategy.

    “We are keen to share our proposals with the community and look forward to welcoming visitors to the exhibition. We hope our application will gain their support and that the initial investment in lithium extraction can act as a catalyst to both grow the extraction process and attract other green technology operations to Weardale.”

     

  • Lithium in Serbia, then and now

    Lithium in Serbia, then and now

    Serbia is unique in the world because over 294,907 people (data from the Internet as of October 18th, 2023) deal with lithium and know everything about mining and obtaining lithium. According to data from 2021, 7,606 papers on lithium-ion batteries (the area of ​​greatest interest when it comes to lithium) were published in the world that year. If the average number of authors on each paper is five, this means that around 38,000 people worldwide deal with lithium. And in Serbia, eight times more people deal with lithium, that is, every 23rd resident of Serbia knows everything about the technology of mining and obtaining lithium.

    Although they acquired their knowledge about lithium from self-proclaimed lithium experts, it did not prevent them from considering themselves experts. (This is a worrying fact that shows how many people in Serbia believe inaccurate and wrong information from social networks.) Serbia still remembers how much damage the group and the party of self-proclaimed experts caused to Serbia. It was enough to consider yourself an expert and become a member of the expert party.

    Since two years ago, a group of self-proclaimed social network experts has emerged who know everything about the technology of mining and obtaining lithium. Some of these self-proclaimed “experts” have become known to the public as lithium “experts” even though they have never dealt with lithium, nor do they have any published work on lithium. The damage that these self-proclaimed experts will cause to Serbia will be calculated later.

    It all started in 2004, when the then Government of Serbia granted a permit for exploratory drilling to a multinational company. It goes without saying that whoever gets the right to exploratory drilling also gets the right to exploitation, if the results are positive. Lithium used to be, in 2004, the most harmless element of the periodic table, at least that’s what some of today’s “experts” advised the government. And also the most useful because in further contracting, according to the unwritten law on incorporation, it could be very useful for contractors from Serbia.

    When large deals are contracted, commissions are also large. Since their opportunity for contracting failed because someone else got the opportunity to mediate in contracting very large jobs, those same former advocates of lithium exploitation became the biggest opponents of that job, with the slogan “to stop everything”. Should others take a commission for the work they contracted first. They decided that they should pledge to postpone that work, until they have the opportunity to accomplish this great work.

    Our great “experts” for lithium need the citizens of Serbia, those who are not among the 294,907 “experts” for lithium, to explain how lithium, from the most harmless and most useful element of the periodic table in 2004, became the most dangerous and harmful element of the periodic table in 2020‒2021. Not even the “scientific” assembly at SAN gave an answer to this question. Anyone who has followed the literature on this subject knows that there have been no revolutionary discoveries in lithium chemistry (apart from advances in battery manufacturing). So the commission made lithium the most dangerous element.

    The Government of Serbia made the mistake of believing the stories of “experts”. The government (ministries of mining and energy, science and environmental protection) should have appointed a working group consisting of people from universities and institutes of various profiles (mining-geological, hydrological, agricultural, then chemists, physicochemists, technologists, machinists, biologists, etc. .), which would propose to the government a decision on this project based on all the existing documents or on the basis of some more that would be done, and on the basis of scientific literature and world experiences in this area.

  • Portuguese prime minister resigns amid lithium corruption allegations

    Portuguese prime minister resigns amid lithium corruption allegations

    Portuguese Prime Minister Antonio Costa has resigned amid investigations into possible crimes of corruption in government relating to lithium and hydrogen projects. Prosecutors have detained his chief of staff as part of the investigation.

    Costa announced his resignation on television, stating: “Today I was surprised by the information, officially confirmed by the public prosecutor’s office, that a criminal process has already been or will be initiated against me. Obviously, I am fully available to collaborate with the justice system in whatever is necessary to uncover the truth. However, it is my understanding that the dignity of the function of prime minister is not compatible with the suspicion of any criminal act, which is why I obviously presented my resignation.”

    The outgoing prime minister added that he has a “clear conscience” and will not run for the fourth time in the early elections that the Portuguese president will likely call.

    President Marcelo Rebelo de Sousa must now decide whether to allow Costa’s Socialists to form a new government with their majority in parliament or to dissolve parliament and call an election.

    Prosecutors are currently investigating alleged graft and influence peddling in the Barroso and Montalegre lithium mine concessions in northern Portugal and a project for a hydrogen plant in Sines port. On Tuesday, five people were detained as part of the investigation.

    The prosecutor’s office said: “At stake may be… facts capable of constituting crimes of malfeasance, active and passive corruption of politicians and influence peddling.