The Czech energy group CEZ is considering an entry into the lithium mining in the Erzgebirge. The company has awarded a two-million-euro loan to the European Metals Holdings (EMH), the owner of the promotion rights on the Czech side of the low mountain range. By the end of the year CEZ has the option to convert the loan into shares in EMH, said the Czech Minister of Industry Karel Havlicek CTK agency on Tuesday. CEZ is owned by 70 percent state.
According to experts, the location of Cinovec (Zinnwald) could be one of the largest lithium deposits in Europe. Two thirds of the deposits are suspected in the Czech Republic, one third on the German side. Further investigations would now have to show whether the promotion is technically possible and economically viable, said CEZ CEO Daniel Benes.
"It is in our interest that profits from lithium mining remain in the Czech Republic as much as possible," said Industry Minister Havlicek. He promised "maximum concern for the environment" and consideration for the residents. Lithium is an important raw material for the production of rechargeable batteries for electric cars, smartphones and notebooks. According to a study by the German raw materials agency DERA from January 2018, the global demand for lithium is likely to at least double by 2025.
Source: DPA
