European Metals signs MoU with Czech Republic for Cinovec project
European Metals has signed a memorandum of understanding (MoU) with the Czech Republic's Ministry of Industry and Trade for development of the Cinovec project.
Under the MoU, the parties intend to jointly work towards maximising downstream processing options within the country.
The parties also plan to investigate suitable locations for processing facilities for the project to reduce the impact on the environment, as well as maximise positive impacts on the economy and regional job opportunities.
In addition, European Metals will explore possibilities of future bilateral agreements with the Czech authorities regarding future cooperation in the sector of lithium, including the potential equity investment of the government in the project.
Czech Republic Minister of Industry and Trade Jiri Havlicek said: "Our main objective is that lithium is not only obtained but mainly processed and utilised within the Czech Republic."
The company will work with the government to cooperate with the Czech academic research bases with regard to ongoing research into the processing of lithium ores.
European Metals managing director Keith Coughlan said: "European Metals fully supports the Ministry of Industry and Trade’s plan to process extracted lithium ore into the final intermediate products in the Czech Republic, which is in line with own our development plans for Cinovec.
"We are looking forward to continuing our discussions with the Czech Republic to identify possible synergies in the areas of mining, processing and utilisation of lithium, including the possible involvement of the Czech Republic as an equity participant in the Cinovec project."