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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

Nexans Autoelectric wants to introduce new production in Czech Rep

June 15, 2011 | 01:10am CEToriginal
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June 15, 2011 | 12:48am CEToriginal
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Car prices dropped by 0.1% m/m in Czech Rep in May

June 15, 2011 | 12:42am CEToriginal
While used cars became cheaper, the new ones became more expensive. Prices of spare parts and repair works increased. Detailed information, including y/y comparison...
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Radek Smejkal left insurance company Direct, being replaced by Petr Ouska

June 15, 2011 | 12:35am CEToriginal
In the autumn of 2009, Smejkal started up business through partners, Ouska is going to continue in it. Profiles of both managers...
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Brano Group develops car pedals of alternative materials

June 14, 2011 | 05:02am CEToriginal
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Bretislav Dolejsi left Kia Motors Czech

June 14, 2011 | 04:58am CEToriginal
He was replaced on the position of director of aftersales services at the Czech importer of Kia cars by Ales Maly, who came from Skoda Auto...
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Unions and management of Slovak plant of Yazaki started negotiating wage growth

June 14, 2011 | 04:50am CEToriginal
Two rounds of collective bargaining have passed, without results so far. Demands and offers of the parties, the next round of negotiations...
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Jahn (Volkswagen): Production of Skoda Octavia II coming to end after entry of Octavia III

June 14, 2011 | 04:45am CEToriginal
Fleet shares of the Skoda brand in the Volkswagen Group and in Europe, launching production of the lower middle class hatchback A-Entry...
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SsangYong Korando cheaper by 11% in Czech Rep

June 14, 2011 | 04:39am CEToriginal
The Czech importer thus reacted to a change in the duty on Korean products one month in advance and, at the same time, to the positive development of the Czech currency. New prices and engines in 2011...
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Siemens entered Czech market with charging stations

June 14, 2011 | 04:35am CEToriginal
Open and planned stations, participation in tenders of energy companies, testing of inductive charging with BMW in Berlin, buying Citroen C-Zero EVs, cooperation with RUF Automobile...
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Vaclav Pixa became new technical director of Bosch plant in Ceske Budejovice

June 14, 2011 | 04:28am CEToriginal
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Generali introduced new accident insurance for older cars in Czech Rep

June 14, 2011 | 04:22am CEToriginal
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Skoda Auto plans growth in car production, accelerates axle assembly

June 14, 2011 | 04:13am CEToriginal
Other lines, where axles for two new Skoda models will be fitted, will be added to a new axle assembly line in Mlada Boleslav...
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Global Assistance: Number of assistance interventions of automobile insurance continues to grow

June 14, 2011 | 03:57am CEToriginal
In the Czech Republic, however, not all clients use assistance services of their insurance company, they do so abroad. Statistics of Kooperativa and CPP in 2010...
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Hasicska vzajemna pojistovna increased damage liability rates

June 13, 2011 | 12:17am CEToriginal
At the same time, the insurer favoured drivers over 30 years. The maximum bonus for 2011 increased to 60%...
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Marcel Sulek left Iveco, being replaced by Sergio Biancheri

June 12, 2011 | 11:45pm CEToriginal
Sulek has led the Slovak and Czech representation of Iveco Trucks for seven years, or more precisely for three years. Profile of both managers...
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2011 Brno Motor Show: Fair attracted over 95,000 people, under organizers’ expectations

June 10, 2011 | 03:14am CEToriginal
The interest in test drives in Skoda cars, the Audi’s participation, cooperation of four dealers of Jaguar and Land Rover, fair sales of Motortec…
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TRW Automotive to expand production at one of Czech plants

June 9, 2011 | 02:22am CEToriginal
The company is installing new lines, it will take tens of new employees. Location, production growth for a German carmaker...
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Indebted Haas to be bought by its competitor Jopp

June 9, 2011 | 02:15am CEToriginal
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Hyundai Motor Czech looking for new PR manager

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Importer of Hyundai cars on the Czech market assigned a task to personnel agencies. The function is currently held by...
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Bosch to expand production and development of automotive components in Czech Rep

June 9, 2011 | 01:53am CEToriginal
In Jihlava, the company is installing new lines, in Ceske Budejovice, it will build a new hall and expand its R&D centre. Growth in turnover, production, the number of employees...
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Bridgestone to raise prices of tires by 5 to 12% in Europe from July

June 9, 2011 | 01:47am CEToriginal
Over the past year it is a third price increase, the reason is the continued rising costs of raw materials. The increase in prices of individual segments...
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Dvorak Rent A Car: Seat cars proved good in car rental, to take three times more cars in 2011

June 9, 2011 | 01:36am CEToriginal
Seat cars have thus proved good at another Czech car rental. Compared to 2010, another model has been added, and motorizations have changed...
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Hitachi to open third plant for car parts in Europe, investing in Czech Rep

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