European Metal holding Company to operate Cinovec Lithium Power Project in Czech Republic

Published: Jul 23, 2019 16:32 (GMT+8)

Save

European Metal Holdings has held preliminary discussions with potential customers and may begin operating the Cinovec lithium power project in the Czech Republic by mid-2022.

SMM7, March 23: European Metal holding Company has held preliminary discussions with potential customers and may begin operating the Cinovec lithium power project in the Czech Republic in mid-2022.

Czech utility CEZ, which has a 70 per cent stake, last week agreed to a convertible loan of 2 million euros ($2.2 million) to EMH, paving the way for it to become EMH's largest shareholder.

European Metals companies listed in London and Australia control exploration licenses for the Cinovec Lithium / Tin Project in the Czech Republic, which is considered to be the largest lithium deposit in Europe. It could help CEZ switch to renewable energy and supply products to the electric car industry in Europe.

It is understood that CEZ loans account for only a small portion of total capital expenditure, which CEZ executives say is an encouraging commitment, while CEZ has conducted due diligence on the project.

CEZ can convert principal to stock before a convertible loan matures. Czech Prime Minister Andre Babbitz (Andrej Babis) has backed a deal that could turn out to be a good mining project.

European Metals is conducting a clear feasibility study and says it can start construction by mid-2020, which is expected to take two years.

Coughlan said the CEZ loan would make it easier to invest in the project and had preliminary discussions with buyers, including carmakers and battery makers.

The EU is keen to shorten the supply chain, focus on strategic minerals and focus on the development and supply of the electric vehicle industry.

SMM believes that Europe, as one of the most important new energy vehicle markets in the world, its industrial chain is also constantly expanding and improving. Sales of electric vehicles in Europe were about 430000 in 2018, up 41% from a year earlier. Data predict that demand for battery-powered vehicles in Europe is expected to reach 600000 by 2020 and nearly 1 million by 2022. In the face of huge market demand, the strategic significance of battery raw materials is self-evident. The cooperation between EMH and CEZ not only represents the further extension of the two companies in their current business areas, but also provides the possibility for the re-division of the industrial chain pattern of the global new energy market.

"Click to enter the registration page

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

Cars batteries cobalt lithium new energy

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

8 hours ago

UK E-Liquid Excise Duty Takes Effect October 1 at GBP 2.20 per 10ml, Tobacco Tax Also Raised

【UK E-Liquid Excise Duty Takes Effect, Tobacco Tax Raised Simultaneously】The UK's HM Revenue & Customs has announced that the e-liquid excise duty came into effect on October 1, 2026, at a rate of GBP 2.20 per 10ml, applying to all e-liquids produced or imported into the UK regardless of nicotine content, with the exception of goods held in duty suspension. Manufacturers, importers, and bonded warehouse operators must obtain HMRC approval; unauthorized production is illegal and subject to civil penalties, seizure of goods and equipment, or criminal prosecution. The accompanying fiscal mark regime is also mandatory from the same date, with transitional marks without digital elements permitted until December 31, 2026; new products must use digital fiscal marks from January 1, 2027, and existing unmarked stock in wholesale and retail may be sold until March 31, 2027. Cigarettes and other tobacco products received a one-off additional duty of GBP 2.20 per 100 sticks or per 50g on the same date, on top of the regular escalator. The measure is projected to generate over GBP 550 million annually by the 2030–31 fiscal year.

8 hours ago

9 hours ago

South Korea to Fast-Track Approvals for Hyundai’s KRW 4 Trillion Ulsan EV Factory Conversion

On October 1, the South Korean government announced measures to accelerate approvals for Hyundai Motor’s approximately KRW 4 trillion project to convert existing Ulsan facilities into EV-focused factories. The project covers Ulsan Plant 1 and Line 2 of Plant 4. Environmental, traffic and disaster impact assessments will proceed alongside permitting, supported by a dedicated project manager. The government aims to shorten administrative procedures from more than three years to within one year. The measure supports an existing corporate investment rather than providing a new government subsidy.

9 hours ago

LG Energy Solution Signs MOU With indiGOTech to Discuss 46-Series Battery Supply for 2027–2030

LG Energy Solution announced on October 1 that it signed a strategic memorandum of understanding with U.S. commercial EV startup indiGOTech. The companies will discuss prioritizing LG Energy Solution’s 46-series cylindrical battery cells for indiGOTech’s next-generation commercial EVs, including Flow Ride and Flow Cargo, covering 2027–2030. They will also pursue technical cooperation to extend driving range and shorten charging times.

9 hours ago