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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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Original reports Autofox

Allianz launched own "eCall" in Czech Rep, yet for fleet customers only

October 6, 2011 | 12:08am CEToriginal
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CARTec motor opened renovated showroom of Jaguar, Land Rover and Range Rover in Brno

October 6, 2011 | 12:01am CEToriginal
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Michal Dolansky became new fleet manager of Kia in Czech Rep

October 5, 2011 | 11:40pm CEToriginal
He has eight-year experience in one of Prague Toyota dealership. His predecessor, Jan Vesely...
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Marek Vodicka to leave Kia Motors Czech

October 5, 2011 | 01:16am CEToriginal
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Auto-Exner lost Seat dealer license

October 5, 2011 | 01:06am CEToriginal
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October 5, 2011 | 12:58am CEToriginal
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Jan Dryak joined AAA Auto

October 5, 2011 | 12:48am CEToriginal
After many years working in the leasing company CSOB Leasing , he joined the used car dealer. At AAA Auto he took the position of...
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Seat addresses also hotels in Czech Rep, now succeeded with Alhambra in CPI Hotels

October 5, 2011 | 12:44am CEToriginal
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Land Rover chose new partner in Czech Rep for military orders

October 4, 2011 | 04:53am CEToriginal
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Hronovsky began manufacturing in fourth location in Czech Rep

October 4, 2011 | 04:43am CEToriginal
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Pavla Drmotova named PR manager and spokesperson at AutoBinck in Czech Rep

October 4, 2011 | 04:39am CEToriginal
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Nissan to enter Czech Rep with Leaf EV in 2013, now looking for partner

October 4, 2011 | 04:28am CEToriginal
The up to now sales in Europe, launching on the individual markets, production in Europe, TCO, strategy and planned sales in the Czech Republic...
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October 4, 2011 | 04:14am CEToriginal
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ACEA: Production of commercial vehicles grew faster in EU in 2010 than production of passenger cars

October 4, 2011 | 12:11am CEToriginal
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New shareholder entered Invelt

October 3, 2011 | 03:40am CEToriginal
He helped with the acquisition of the BMW showroom in Prague of a bankrupt company AuTec Group and increased its capital with a view to further expand in the Czech Republic...
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Danyang Winstar Auto Parts wants to break into aftermarket in Europe

October 2, 2011 | 11:45pm CEToriginal
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OMV intends to focus on natural gas, wants to get money by selling petrol stations in several European countries

October 2, 2011 | 11:36pm CEToriginal
These should include the Czech Republic and Slovakia. Abandoned markets, the expected proceeds from the sale in total and in the Czech Republic, candidates...
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Steve Yang resigned from post of Hyundai Motor’s CEO

October 2, 2011 | 11:26pm CEToriginal
His duties will be temporarily taken by chiefs of domestic and foreign sales, the new CEO will be chosen later. Reasons for his resignation...
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Dusan Fornusek left SkoFIN

September 30, 2011 | 03:11am CEToriginal
He held the post of commercial director over the last year, in the company he worked for five years. His responsibility was taken over by...
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Autocentrum Dojacek to expand the sales portfolio with other two brands

September 30, 2011 | 02:52am CEToriginal
At the same time, the company has been extending its offer of authorized service for other brands. Moreover, the company will open a new multi-brand complex in...
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Fiat to release 435 people in Poland, having reduced production already

September 30, 2011 | 02:22am CEToriginal
The reason is the shift of Fiat Panda production to Italy. However, Fiat Auto Poland speaks of a decline in demand for mini cars. Production plans for 2011...
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Matador focuses on car parts after having sold tire division to Continental

September 29, 2011 | 04:32am CEToriginal
The company built a new factory in the Czech Republic. Its location, characteristics, investment, HR, order from Skoda Auto, the planned revenues and growth by 2014...
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Skoda Citigo, VW Up!, Seat "City Car": Production to begin in mid-October, sales in domestic markets in Q4 2011

September 29, 2011 | 04:13am CEToriginal
Projected body versions, entry into the European market, engines, transmissions, eco-versions, equipment, pricing, target groups, head airbags and brake assistant...
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Auto Esa made changes in external communications

September 29, 2011 | 04:03am CEToriginal
PR agency AMI Communications will continue to work on selected projects, a spokesperson of Auto Esa became...
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Volvo Trucks upgraded calculator of environmental impact of vehicle operation

September 29, 2011 | 03:51am CEToriginal
Customers have been using this tool to reduce consumption and emissions for 10 years. Novelties in the application...
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