European Metals Holdings Limited (ASX: EMH) has welcomed a visit from Czech Republic Prime Minister Petr Fiala to its Cinovec Project, a globally significant lithium deposit.
Lithium is a critical and key raw material. Cínovec is the largest European deposit of this raw material. Thanks to this, the Czech Republic has a unique opportunity to contribute to both its own and European raw material security,” the PM noted.
“We are on the threshold of a ‘lithium revolution’ as the use of lithium will grow significantly. As a country with a large share of the automotive industry, it is important for us to support it and capture current trends.
“We are offered a unique chance to build the entire chain from mining to the production of electric cars. That is why we need lithium and we are trying to build a battery factory, the so-called gigafactory.”
Following a visit to Cinovec, Mr Fiala continued across the Czech border to the nearby German city of Dresden, signing a Memorandum of Cooperation (MoC) on the implementation of projects of strategic importance with Saxon Prime Minister Michael Kretschmer.
The MoC strengthens cooperation between the states on raw materials, energy and fuel security, with a particular emphasis on lithium, given the strategic location of the Cinovec lithium deposit on the Saxon-Czech border.
Prime Minister Fiala has continued to highlight the importance of lithium development in the Czech Republic and it is anticipated the MoC will further expedite the regulatory and development pathway of Cinovec.
European Metals Executive Chairman Keith Coughlan said the recent visit by Prime Minister Fiala and the subsequent Memorandum of Cooperation between the Czech Republic and the state of Saxony are highly significant.
“These developments highlight the strategic importance of our project to the region and to the broader European Union. With increased recognition of the importance of Cinovec, EMH anticipates further acceleration in support throughout the project’s development pathway.”
