European Metals Holdings Limited announced that Czech Republic Prime Minister Petr Fiala visited the Cinovec Project, a significant lithium deposit, and intended to accelerate the development of key projects such as Cinovec.
“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,” Prime Minister Fiala said via social media.
“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,” the Prime Minister stated.
Following his visit to Cinovec, Prime Minister Fiala travelled across the Czech border to Dresden, where he signed a Memorandum of Cooperation (MoC) with Saxon Prime Minister Michael Kretschmer on the execution of important projects.
The MoC increases bilateral cooperation on raw materials, energy, and fuel security, with a focus on lithium due to the strategic position of the Cinovec lithium deposit on the Saxon-Czech border.
“I believe that this memorandum will help our cooperation on the development of the lithium deposit in Cínovec and, in the future, the creation of the entire production chain for the production of batteries for cars,” Prime Minister Fiala added.
Prime Minister Fiala has continued to emphasise the importance of lithium development in the Czech Republic, and it is expected that the MoC will accelerate Cinovec’s regulatory and development pathway.
“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,” European Metals Executive Chairman Keith Coughlan said.
