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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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Factories
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PSA Peugeot Citroen to limit production in Slovakia in March as well

February 12, 2013 | 12:43am CEToriginal
Shutdowns in the Trnava plant will be in the same range as in February. Reduced salary during shutdowns, details...
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Volkswagen allegedly approved production of Bentley SUV, production might take place in Slovakia

February 7, 2013 | 03:27am CEToriginal
Location, timing, group synergies, assembly, production volume, prices, next-generation SUVs from Volkswagen Group, Lamborghini Urus SUV...
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Vosicky: Hyundai wants to grow in Czech Rep in 2013 faster than globally

February 5, 2013 | 12:16am CEToriginal
The brand intends to defend second place in sales, increase market share and the number of dealerships. Product novelties, an estimate of the development of the Czech market...
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PSA Peugeot Citroen limits production in Slovakia

January 29, 2013 | 12:20am CEToriginal
Restrictions in Trnava in January and February, the production plan in 2013, flexible manufacturing in Czech plant with extraordinary Friday shifts...
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3M: New innovation centre in Prague to bring us new business, not only from Czech Rep

January 8, 2013 | 03:30am CEToriginal
Major trends in Automotive, innovative products for interior, exterior and drive, development and testing, Czech clients...
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Hyundai wants to produce 300,000 cars in Czech Rep again in 2013

January 8, 2013 | 03:08am CEToriginal
In 2012, production exceeded the company’s plan by 1%. The setout of production between individual models of i30, ix20 and ix35...
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Toyota Motor replaced president of JV in Czech Rep after three years

January 3, 2013 | 06:13am CEToriginal
Satoshi Tachihara returned to the carmaker’s headquarters. Kenta Koide, who already worked in the Kolin plant before, became the new head in TPCA...
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Czech Police expanded fleet with Hyundai brand and other models produced in Czech Rep

December 17, 2012 | 03:48am CEToriginal
Therefore, Hyundai disrupted the domination of the Volkswagen Group with the small order. The affected cars with petrol engines...
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Trinecke zelezarny/Moravia Steel expanded cooperation with Skoda Auto

December 13, 2012 | 02:07am CEToriginal
Subsidiary VUHZ has won a contract to manufacture tools and moulds. Three new CNC machines, a shift to precise parts, modernization the coating centre, clients...
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Mecaplast sold production of textiles for car interiors

December 12, 2012 | 12:43am CEToriginal
Those are two plants in Europe - in France and the Czech Republic. The buyer of factories, locations, transaction value, HR, products, customers, Mecaplast’s orders...
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Slovakia may lose production for Porsche

November 7, 2012 | 03:29am CEToriginal
Volkswagen Slovakia manufactures bodies for the Porsche Cayenne in Bratislava. This production could move to...
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Macht (Volkswagen): Slovakia still among possible producers of plug-in HEVs

October 25, 2012 | 01:13am CEToriginal
The affected models, production start-up, HR, the amount of investments, the length of the production cycle...
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Conference on automotive industry in Czech Rep and Central Europe to be held in Brno in late October

October 17, 2012 | 12:46am CEToriginal
It is the ninth year of this professional event. Speakers from associations, carmakers, suppliers, banks, consulting firms, service providers...
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Unions at Volkswagen Slovakia declared strike alert

October 9, 2012 | 03:26am CEToriginal
Management of the plant in Bratislava has not yet agreed with the staff on a new collective agreement. Requirements and proposals of both sides...
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CTP Invest to build second industrial zone near carmaker in Czech Rep

October 4, 2012 | 03:02am CEToriginal
Regarding the tenants, it also intends to address automotive suppliers, including the existing clients of CTP. Location, area, investment, schedule...
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PSA Peugeot Citroën to reduce production in Slovakia in Q4

October 1, 2012 | 04:17am CEToriginal
The reason is a decline in orders. Interruption of production is not expected to affect employment in the Trnava plant. Duration of the outage, continuing trend from 2011...
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Ostrava Municipal Police purchased two Hyundai ix20 cars running on CNG

September 26, 2012 | 02:13am CEToriginal
It is a one-off project of regional companies. Technology supplier, manufacturer of steel cylinders, car dealer...
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Hyundai prepared Czech version for its original navigation

August 28, 2012 | 02:31am CEToriginal
There is an option automatically available in new cars, the current owners can have an upgrade done in a service centre...
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Grupo Antolin to invest in expansion of production in Czech Rep

August 20, 2012 | 04:44am CEToriginal
The reason is a growing demand from one carmaker. Location, increase in the production area and capacity, new lines, HR, timing, customers...
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Magna won another contract to manufacture hybrid tailgate, to place production in Czech Rep

August 6, 2012 | 03:12am CEToriginal
The contract for a BMW electric vehicle, the experience from the Skoda Roomster Scout, location, other investments, customers and projects...
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KYB wants to build second plant in Czech Rep

August 3, 2012 | 03:54am CEToriginal
The company has thus decided to expand within two countries in Europe. Location, products, production volume, HR, timing, customers...
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TPCA to satisfy anyone interested in voluntary departure, to dismiss more permanent staff

July 19, 2012 | 04:20am CEToriginal
The plan originally allowed for 250 dismissed people; 345 workers showed an interest in extra compensation. The timing of departures...
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Volkswagen to build new body shop for EUR 600 million in Slovakia

July 3, 2012 | 09:14pm CEToriginal
The new hall will be connected to a pressing shop, which is now being built. Body shop size, utilization, production start-up, HR...
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PSA Peugeot Citroen plans to close one plant in France

June 28, 2012 | 11:41pm CEToriginal
It will be probably one of the factories producing the Peugeot 208, because its production should increase in Slovakia...
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Vadim Petrov to leave TPCA after six years

June 21, 2012 | 01:28am CEToriginal
In the Czech plant of the carmakers PSA Peugeot Citroen and Toyota Motor he has been working as Director of External Affairs. Reasons, timing, successor, Petrov’s profile and new job...
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