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Ústí nad Labem Region, Czechia approved delimitation of areas for deep mining of lithium at Cínovec in Ore Mountains. Decision of representatives is key for further decisions by investor Geomet (51/49 joint venture of Severočeské doly/ČEZ and European Metals Holdings/EMH) on implementation of project worth CZK 42 billion (EUR 1.7 billion), of which costs of building processing plant should be CZK 25 billion and mine itself CZK 5 billion. Project made significant progress in recent years – completion of definitive feasibility study/DFS and submission of EIA documentation to Ministry of Environment (December 2025), awarding subsidy of maximum of EUR 350 million/CZK 8.8 billion for construction of lithium processing plant in Prunéřov near Chomutov from Strategic Investments for Climate Neutral Economy programme (November 2025), receiving grant of CZK 800 million/EUR 32 million from Fair Transition Fund (April 2025), inclusion by European Commission among strategic projects under Critical Raw Materials Act/CRMA regulation (March 2025), changing location of processing plant from Dukla industrial zone near Újezdeček to Prunéřov to site of former coal-fired power plant (April 2024), EBRD invested EUR 6 million in EMH shares and currently holds 5.18% interest (July 2023), redemption of land and options in Dukla location for CZK 966 million (June 2023), EMH approved transfer of 51% stake to ČEZ by increasing Geomet's capital by EUR 29.1 million (April 2020), EMH acquired Geomet (February 2014), Geomet founded (November 2007). This to be followed by preparation of documentation for building permit. Investor expects mining to begin in 2030. Mining operation and raw material processing plant to directly create approximately 2,000 jobs, with further 2,000 jobs created in downstream supply chain. Total of 3.2 million tonnes of ore per year can be mined at Cínovec and will produce approximately 37,500 tons of battery-grade lithium carbonate for up to 1.3 million electric vehicles (EVs). Czechia has 10th largest lithium reserves in world (3-5%) and 2nd largest in Europe after Germany. Net present value (NPV) in Cínovec deep deposit was USD 1.94 billion as of January 2022. Automotive industry accounts for about 10% of Czechia’s GDP. In coming years, it will undergo inevitable transformation from internal combustion engines (ICEs) to electromobility. Czech source of lithium will help preserve jobs, automotive tradition, wide supply chain and follow-up services, added ČEZ, which is also planning gigafactory for electric car battery cells in Prunéřov

April 7, 2026 | 07:46am CETflash
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Admosphere: Advertising investments in car sales in Czech Rep fell in Q1, went up at Top 10 advertisers

May 9, 2012 | 03:35am CEToriginal
Fiat Group doubled investments, Skoda Auto and Toyota Motor reduced them in a double-digit pace. Profitability of investments in advertising...
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Admosphere: Carmakers decrease advertising investments in sale in Czech Rep

May 2, 2012 | 01:57am CEToriginal
In March 2012, the decline in advertising costs reached 18.9%; it is the fifth decline in a row. Hyundai Motor Czech and Skoda Auto have remained the leaders…
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Cebia plans to expand its team in connection with further expansion

April 18, 2012 | 11:16pm CEToriginal
At present, the company is looking for a marketing and PR communication specialist, which is a newly created position. Requirements, details...
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Sales of new cars in EU decreased by 7% in March

April 18, 2012 | 06:19pm CEToriginal
A total of 1.45 million cars represent the lowest March registrations since 1998. Development in individual countries, the market share of Czech manufacturers...
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Mobility Management Congress 2012: Fleet Management conferences to have follow-up of broad-ranged congress

April 10, 2012 | 12:52am CEToriginal
The first year will take place on April 26. The event’s speakers include representatives of Skoda Auto, SkoFIN, Volkswagen, Arval, Business Lease, LeasePlan, 3M, Siemens, PwC...
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Sales of new cars in Czech Rep dropped by 2.5% in March, LCVs sales by 5%

April 5, 2012 | 09:38pm CEToriginal
Registrations of trucks and buses also fell. The decline was tempered by Hyundai, Nissan, Volkswagen and Mitsubishi. SDA and PwC’s outlook for 2012...
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ALD Automotive has new head in Czech Rep

April 3, 2012 | 12:54am CEToriginal
Roman Schanner left the post of general manager at the Czech branch. His successor came from abroad...
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EU new cars sales fell by 9.7% in February, by 11.8% in euro area

March 16, 2012 | 04:05am CEToriginal
The reason is the continued decline in demand in south-western Europe. The results of individual countries and brands, growing market share of Skoda...
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Used car shops founded association in Czech Rep

March 6, 2012 | 12:03am CEToriginal
Current membership including new car dealers, such as BS Auto, association partners, such as Cebia and Eurotax, a second attempt to unify used car sale business...
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IIR holds E-Mobility conference in Prague in late February

February 23, 2012 | 03:53am CEToriginal
The second year of this event will focus on trends, forecasts, new EVs, EU support, or infrastructure development. Speakers at the conference will be...
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Sales of new cars in EU down by 7.1% in January, fourth month in a row

February 17, 2012 | 02:17am CEToriginal
The decline was mitigated by CEE markets like the Czech Republic, Slovakia, Poland, Hungary and Romania. Apart from Hyundai and Kia brands, Skoda grew as well. Details, a comment by KPMG...
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LMC Automotive: Global sales of vehicles under 3.5 tons down by 5% in January

February 14, 2012 | 12:46am CEToriginal
The reason is especially a sharp decline in China. Developments in Western Europe, CEE and USA...
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Car sales in China fell by 24% in January, not due to economic factors though

February 10, 2012 | 03:05am CEToriginal
This is the sharpest decline in more than three years’ time. The reason for the January drop, analysts' outlook for 2012...
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CSSD proposes that odometer downsizing becomes criminal offence in Czech Rep

February 7, 2012 | 03:44am CEToriginal
The opposition party wants to seek support for the proposal across the political spectrum. However, the government intends to qualify this behaviour as an offence...
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Analysts: New cars might be slightly cheaper in Czech Rep in 2012, but in lower categories only

January 26, 2012 | 01:24am CEToriginal
Equipment will continue to be increased and various services will be included into the price of the car. Long waiting periods...
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Admosphere: Advertising investments in car sales in Czech Rep increased by 12.2% in 2011

January 18, 2012 | 11:47pm CEToriginal
The biggest advertiser has become Hyundai, which doubled its investments. Investments of other car manufacturers/importers, profitability...
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Sales of new cars in EU fell in December, third month in row

January 18, 2012 | 12:18am CEToriginal
Over the full year 2011 the sales decline reached 1.7%. Results in individual markets, KPMG’s comment...
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Sales of new cars in Czech Rep should stagnate or decline slightly in 2012

January 10, 2012 | 12:40am CEToriginal
Prices should not change much in most segments and should go up in the premium segment slightly. The outlook of SDA and PwC...
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Sales of new cars fell by 0.7% in Czech Rep in December, LCV sales rose by 33%

January 6, 2012 | 02:21am CEToriginal
Registrations of trucks and buses went up. The largest growth was showed by brands Ford, Renault, Skoda a Dacia. Details...
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Car sales down by 3.5% in EU in November

December 18, 2011 | 11:45pm CEToriginal
The pace of decline accelerated from 1.8% in October. According to KPMG, the reason is problems of the euro area and emerging second wave of postponing car purchases...
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QBE Insurance prepared third variant of GAP insurance in Czech Rep

December 1, 2011 | 11:53pm CEToriginal
The insurance StopGAP covers the decline in market value of the car in case of total loss or theft. Details, options, limits, prices...
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New car sales in Germany rose by 1% in October

November 3, 2011 | 01:47am CEToriginal
The growth rate thus significantly decreased from 8% in September. According to KPMG and PwC, it is an expected slowdown due to fears of further developments of the debt crisis in the euro area...
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Median, Flotila: Fiat became friendliest carmaker to smaller corporate clients for 2011

October 30, 2011 | 11:58pm CEToriginal
Non-premium brands succeeded in the survey, in which the offer range was not as important as access and communication. Strangely set criteria...
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VVA 2011: Swell to hold workshop on car development in Czech Rep in mid-November

October 26, 2011 | 12:10am CEToriginal
The event will deal with numerical simulations and testing in the development cycle of an automobile. The workshop will have the following speakers...
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BMW Group strengthened CRM activities in Czech Rep

October 25, 2011 | 11:56pm CEToriginal
The importer created a new position of CRM manager, to which Andrea Cernakova was named. Her previous work at Mazda and EurotaxGlass’s, cooperation of BMW with TBWA...
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