Tuesday, December 7, 2021

European Lithium secures lithium deposits in the Ukraine

European Lithium is in the process of securing two promising lithium deposits in Ukraine. With that the Company is aiming to become the largest lithium supplier in Europe and an essential part of an European battery supply chain.

The two deposits are located in Shevchenkivske in the Donetsk region and in Dobra in the Kirovograd region of western Ukraine. Both sites are said to be “under-explored” according to modern methods and “contain significant expected resources”, according to a statement by the Australian company, who have so far made a name for themselves in Europe mainly as the owner and operator of a lithium mining project in Wolfsberg in Carinthia, Austria.

A “phased acquisition” of the two deposits has now been agreed, with the transaction expected to close in November 2022.

“I am very excited about the opportunity to acquire the two Ukrainian lithium deposits and combine them with our already advanced lithium project in Wolfsberg. This will not only allow us to become the first local lithium hydroxide producer in Europe, but at the same time form the largest lithium group on the continent and contribute sustainably to securing European demand for lithium,” says Tony Sage, Non-Executive Chairman of European Lithium.

An integrated European battery supply chain, the cornerstone of which is now being laid not least by the intensive activities of European Lithium, could provide a remedy.

Dietrich Wanke, CEO of European Lithium, emphasises the importance of lithium mining in Europe: “Lithium is currently mined almost exclusively in Australia, Asia and South America. This fact, coupled with the forecast that demand for lithium will more than double in a few years, means a serious situation of dependency for Europe’s industry.”

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Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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