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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

SAP: Vehicle production in Czech Rep dropped by 23% in Q1, year-long decline difficult to predict

May 11, 2009 | 04:58pm CEToriginal
The carmakers Skoda Auto, Tatra, Avia Ashok Leyland recorded a significant decline in production, on the contrary...
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Volkswagen to discontinue production in Bratislava in mid-May

May 1, 2009 | 11:22am CEToriginal
The company is going to make use of the production cut even within advance working for productin of the car line New Small Family. The outage will last from...
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Tentative agreement: Saturday’s shifts in Skoda Auto according to unions, time accounts as of September

April 28, 2009 | 04:42pm CEToriginal
First 50 employees of the Volkswagen plant in the Slovak town Martin have begun to work in the Skoda carmaker on Monday. In the second wave...
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Nosovice-based Hyundai plant to deliver vehicles to Mexico

April 27, 2009 | 10:18am CEToriginal
Hyundai will thus become the first Czech carmaker which is going to start selling its vehicles in Mexico. The vehicles will be delivered from Nosovice also to...
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Employees from Bratislava-based Volkswagen to help with production in Skoda Auto temporarily

April 25, 2009 | 05:39pm CEToriginal
They will primarily help with the Fabia model production to which there is a long waiting time due to scrap bonus.
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South Korean carmaker Kia returned to profit in Q1 at revenues fall of 6%

April 24, 2009 | 07:07pm CEToriginal
Analysts expected profit in Q1, but significantly lower than in reality reported net profit of...
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VAT deduction increased car interest less than it was expected

April 24, 2009 | 05:44pm CEToriginal
In addition, there are few cars on the market. Customers must watt for some cars for even several months, including the best selling car…
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Court in Usti halted insolvency proceedings in BTV plast

April 23, 2009 | 11:43pm CEToriginal
Liberec-based company Eurostav, which initialized the proceedings on April 20, has...
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Skoda Auto considers Fabia model ‘s production also in Vrchlabi

April 23, 2009 | 06:44pm CEToriginal
Fabia models are currently the most required due to the scrap bonus and the carmaker does not want to lose customers because of the long waiting time. In March, the Fabia model’s sales amounted to...
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Volkswagen: Small car on a VW Up! basis to be produced in Bratislava

April 22, 2009 | 03:35pm CEToriginal
The Group will invest EUR 308 million. Small car will be produced in 3 and 5-door versions, under brands…
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Fewer brands to be presented at the Bratislava Motor Show this year

April 21, 2009 | 07:53pm CEToriginal
Visitors will be able to see models from 38 producers from Wednesday, April 22, while in 2008 there were...
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Slovak Kia Motors's plant increased revenues by 24% to EUR 2.23 billion

April 21, 2009 | 07:26pm CEToriginal
The car production in Zilina-based factory increased by 38% to 201,000 cars. This year...
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Court in Usti initialized insolvency proceedings in automotive supplier BTV plast

April 20, 2009 | 08:59pm CEToriginal
A proposal for the proceedings initiation has been filed by Eurostav company which claims the arrears this way…
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Volkswagen to initiate production in Bratislava on Monday again

April 19, 2009 | 06:37pm CEToriginal
Volkswagen discontinued the production in Bratislava-based plant twice this year. The plant’s employees could draw the leave or…
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EuWe Eugen Wexler to start production in Rokycany in next hall at the beginning of May

April 17, 2009 | 05:02pm CEToriginal
The new hall cost CZK 200 million. EuWe will produce there parts for the all-new…
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South Korea to help the local automotive industry by USD 377 million

April 14, 2009 | 12:41pm CEToriginal
The government aims to encourage the field of research and development particularly. A part of the support should also be...
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TPCA awarded its best 30 suppliers in 2008 and gave four special prizes

April 10, 2009 | 01:25pm CEToriginal
For 2009 the important role has also been a carmaker satisfaction with the continuity of supplies. In addition, four suppliers received special award…
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