European Metals Holdings Ltd announced today that it has successfully produced battery-grade lithium carbonate at the Cinovec Project in Czech Republic, marking a significant shift from lithium hydroxide production. The company's Managing Director, Keith Coughlan, detailed this development to Thomas Warner at Proactive, attributing the change to the growing demand for lithium iron phosphate (LFP) batteries in Europe.
The company is finalizing its product and preparing for a definitive feasibility study (DFS) release by the end of the year. This study will provide crucial insights into the project's viability and potential profitability.
The Cinovec Project, which is strategically recognized by the European Union and significantly backed by the Czech government, has received a €50 million grant. The project anticipates continued financial and legislative support, positioning it strongly for future success.
Coughlan expressed optimism about the project's progression and its potential to meet the EU's ambitious lithium production targets. He also confirmed that the company is moving towards an impending final investment decision.
This development comes as part of a broader trend in Europe towards increased production and use of LFP batteries. As such, European Metals' shift to lithium carbonate production could be indicative of a larger market shift within the region's battery industry.
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