MINEX Forum

Tag: sustainable energy

  • Vulcan Energy Completes Preliminary Feasibility Study for Project Ludwig in Germany

    Vulcan Energy Completes Preliminary Feasibility Study for Project Ludwig in Germany

    Vulcan Energy (ASX: VUL, FSE: VUL) has announced the completion of its Preliminary Feasibility Study (PFS) for Project Ludwig, marking a significant advancement in its lithium and geothermal energy production strategy in the Ludwigshafen region of Germany. This project is set to build on the successes and learnings from Vulcan’s first phase, Project Lionheart, and aims to establish an integrated lithium chemical and renewable heat production facility within the Upper Rhine Valley Brine Field (URVBF).

    The PFS highlights robust economic metrics, projecting a pre-tax net present value (NPV8) of €2.6 billion and an internal rate of return (IRR) of 25.0% over a planned 30-year operational life. Notably, Project Ludwig is expected to produce 21,100 tonnes per annum (tpa) of battery-grade lithium carbonate (Li2CO3) while also generating 3,125 GWh per annum of renewable heat for both internal use and external sales. The capital expenditure (CAPEX) for the project is estimated at €1.26 billion, reflecting a 15% reduction in capital intensity compared to Project Lionheart, showcasing Vulcan’s commitment to capital efficiency and sustainable production practices.

    The study indicates a significant increase in mineral resources, with indicated lithium resources rising from 655 kt LCE to 1,251 kt LCE, and inferred resources increasing from 2,128 kt LCE to 2,230 kt LCE. Additionally, a maiden geothermal resource estimate of 193 PJ has been established, further solidifying the project’s potential.

    Vulcan’s Managing Director and CEO, Cris Moreno, expressed optimism about Project Ludwig, stating that it represents a strategic next step in the company’s phased development approach. The project aims to leverage Vulcan’s existing infrastructure and expertise gained from Lionheart, applying a proven integrated geothermal-lithium development model to enhance shareholder value and contribute to Europe’s critical raw materials supply chain.

    The PFS was conducted with support from Worley and JordProxa, ensuring a comprehensive evaluation of the project’s technical and economic viability. As Vulcan prepares for a Final Investment Decision (FID) post-Lionheart production commencement, it is also pursuing an asset-level financing strategy to advance Project Ludwig, with strategic partner selection processes already underway. The project aligns with the European Union’s focus on securing sustainable domestic supply chains for critical raw materials, particularly lithium, as the demand for electric vehicles and battery storage continues to rise.

    Project Ludwig not only aims to enhance Vulcan’s lithium production capabilities but also integrates renewable geothermal heat generation, positioning the company as a key player in the transition to a sustainable energy future in Europe.

  • Cornish Lithium Secures £7.2 Million Government Funding for Geothermal Lithium Project

    Cornish Lithium Secures £7.2 Million Government Funding for Geothermal Lithium Project

    Cornish Lithium has announced that it will receive £7.2 million in government funding as part of a £14.5 million drilling and testing programme aimed at advancing the Cross Lanes Geothermal Lithium project in Cornwall. This funding, part of the DRIVE 35 initiative, is intended to enhance the technical and economic viability of commercial lithium production from geothermal sources. The project aligns with the UK Government’s Industrial Strategy and Growth Sector strategies, particularly in light of the increasing importance of lithium in the energy transition.

    The funding will facilitate the drilling of two production wells, each reaching depths of 2,000 metres, and the operation of a Direct Lithium Extraction demonstration plant at the Cross Lanes site. Additionally, an appraisal well will be drilled at the nearby Baldhu site to confirm the presence of further lithium resources. Exploration drilling conducted in 2023 has already established the existence of lithium-enriched geothermal waters circulating through the underlying rock formations at the project site, near Chacewater.

    Cornish Lithium received planning consent for the development of the site in 2025, which includes further phases of testing and evaluation. The company aims to contribute to the UK’s domestic lithium production target of 50,000 tonnes per year by 2035, recognising lithium’s critical role in the transition to sustainable energy. The full planning application and associated documents can be accessed on the Cornwall Council planning register under PA24/06661.

    This initiative not only supports local economic growth but also positions the UK as a key player in the global lithium market, which is essential for the production of batteries used in electric vehicles and renewable energy storage solutions. As the demand for lithium continues to rise, projects like Cornish Lithium’s are crucial for ensuring a sustainable supply chain within the UK.

  • Rio Tinto Partners with GravitHy to Advance Steel Decarbonisation in Europe

    Rio Tinto Partners with GravitHy to Advance Steel Decarbonisation in Europe

    Rio Tinto has entered into definitive agreements with GravitHy to expedite the decarbonisation of steelmaking in Europe. Under the collaboration, Rio Tinto will supply high-grade direct reduction iron ore pellets from its operations at the Iron Ore Company of Canada to support GravitHy’s ambitious steel production project in France.

    GravitHy plans to establish a cutting-edge facility in Fos-sur-Mer, which is expected to produce two million tonnes of iron annually starting in 2028. The facility will leverage ultra-low carbon hydrogen production powered by nuclear energy to convert the direct reduction pellets into hot briquetted iron (HBI).

    GravitHy CEO José Noldin highlighted the project’s significance, stating, “We are developing one of the most advanced ultra-low-carbon iron projects worldwide, designated by the French Government as an ‘Industrial Project of Major National Interest.’” He also emphasized that combining GravitHy’s innovative approach with Rio Tinto’s leadership in mining and steel decarbonisation ensures a strong foundation for the project’s success.

  • UK Shortlists Four Companies for Small Modular Reactor (SMR) Program

    UK Shortlists Four Companies for Small Modular Reactor (SMR) Program

    The UK’s Great British Nuclear (GBN) has shortlisted four companies—GE Hitachi, Holtec, Rolls Royce SMR, and Westinghouse—for its Small Modular Reactor (SMR) program. After a thorough two-stage evaluation, the designs have been confirmed as viable for UK deployment, undergoing rigorous analysis on factors like safety and scalability. GBN Chair Simon Bowen emphasized the importance of the SMR program for the UK’s energy future, and upcoming negotiations will refine the selection process, with final decisions set for spring. The chosen SMRs are expected to support the UK’s sustainable energy goals and energy independence.