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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

Hertz car rental expanded fleet of Seat cars in Czech Rep

May 6, 2011 | 02:57am CEToriginal
The company used to change 20 cars each year but decided to change 25 cars in 2011. The chosen model and specification...
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Employees to be again represented by Jaroslav Povsik and Jan Miller in supervisory board of Skoda Auto

May 6, 2011 | 02:42am CEToriginal
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Nissan holds spring service campaign by end of June

May 6, 2011 | 02:32am CEToriginal
Price of the inspection, advantageous air conditioning maintenance, reduced price for spare parts and accessories, benefits for owners of older cars...
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AGC Automotive to expand in aftermarket in Czech Rep

May 5, 2011 | 02:19am CEToriginal
Its subsidiary is building a network of installation centres of car glass; moreover, it also operates a mobile glazing unit. The growth of the branch network...
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Tölgyesi (LeasePlan): Operating lease market in Czech Rep to rise by up to 5% in 2011

May 5, 2011 | 01:59am CEToriginal
It should follow in a recovery in H2 2010. LeasePlan managed to reverse the earlier decline in the share of new contracts and since then it has been growing...
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Sales of new cars in Czech Rep down by 3.2% in April, sales of LCVs by 0.5%

May 5, 2011 | 01:51am CEToriginal
Demand for trucks and buses rose by double-digit pace. Results in January-April 2011...
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KBC Autolease’s fleet in Europe larger by 6.8% in 2010

May 5, 2011 | 01:21am CEToriginal
All the countries of Central Europe, namely Czech Republic, Slovakia, Hungary and Poland contributed to the result. Results of 2010...
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Denso probably decided to invest in expansion of car air-conditioner production in Czech Rep

May 4, 2011 | 05:33am CEToriginal
It is signalled by the planned investments of two subsidiaries. Denso has not confirmed the investment...
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Hyundai Motor Czech wants to secede from Car Importers Association

May 4, 2011 | 05:16am CEToriginal
The reason is the passivity of SDA on the issue of re-exports. Hyundai has allegedly surpassed Ford and Volkswagen in the sales of new cars in the Czech Republic. Reaction of SDA...
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Renault wants to triple Business Center network in Czech Rep in future

May 4, 2011 | 05:10am CEToriginal
These dealerships, specialized in LCVs, must meet a number of specific standards though. Current state of the concessionary network...
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CEZ and partners to install over 50 charging stations for EVs by end of 2011

May 4, 2011 | 04:51am CEToriginal
AIG/Lincoln, ECE, Ikea, McDonald's, Orco, Segece, Tesco, Kaufland, TNT Express, Vinci Park and two municipalities will install stations, and some will purchase EVs...
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Shimizu wants to increase production in Czech Rep

May 2, 2011 | 11:37pm CEToriginal
The company intends to expand the existing plant, install new technologies, increase production capacity by 50% and engage dozens of new employees. Details, customer of the production...
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Vladimir Fuchs became new head of Europ Assistance in Czech Rep and Slovakia

May 2, 2011 | 11:31pm CEToriginal
He has been promoted from the position of commercial director. He replaced Josef Woerner, who...
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Renault Business Tour 2011: Renault to present novelties in LCVs throughout Czech Rep for half a year

May 2, 2011 | 11:12pm CEToriginal
Those will be Business Centres, new versions of models, the possibility of extensions, Euro 5 engines. Orders in Q1, fleet success in the state administration...
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Direct Pojistovna selected new spokesperson after half a year

May 2, 2011 | 10:32pm CEToriginal
The company appointed Katerina Krasova, who came here from another position within the company, to the function…
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Kvasiny-based plant of Skoda Auto has new head as of May

May 2, 2011 | 01:51am CEToriginal
Pavel Richter was promoted from the position of the welding shop head, and replaced Jan Tauchman...
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LeasePlan launched online application for ordering cars by existing clients in Czech Rep

May 2, 2011 | 01:18am CEToriginal
Also LeasePlan’s representations in other countries have shown interest in application eOrders, developed by the Czech branch. Details of the application...
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Autobond continues to expand in Czech Rep, to buy dealership in North Moravia

April 29, 2011 | 07:49am CEToriginal
The company will also expand its portfolio by a sixth brand and will enter into two new cities and dominate the subcontractor. Details of the subjects, the expected performance in 2012...
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Nissan Micra extended fleet of car rental Sixt in Czech Rep

April 29, 2011 | 06:18am CEToriginal
The first cars were handed over in early April; the rest will be delivered by the end of 2011. The contract’s volume, model’s specification…
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Triglav agreed to cooperate with health insurer OZP in Czech Rep

April 29, 2011 | 06:03am CEToriginal
Triglav has started offering discounts for non-life insurance of up to 50% to its clients, including the automobile insurance. Details of the discounts...
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Car insurance market in Czech Rep decreased by 8.6% in Q1, damage liability by double-digit pace

April 28, 2011 | 02:55am CEToriginal
The number of insured vehicles increased by 131,000 units, the insurance is thus getting cheaper. Results of insurance companies...
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IAC Group to move production for Opel Astra from Belgium to Czech Rep

April 27, 2011 | 03:30am CEToriginal
The reason is the model’s production shift from a closed factory in Antwerp to Poland. Production growth and new jobs in one of the Czech factories...
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T.Rad wants to expand production in Czech Rep

April 27, 2011 | 03:17am CEToriginal
The company plans to expand its plant in Unhost as well as double the number of its employees. It is caused by new contracts...
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ConPro organizing conference Mobility Forum in Prague in mid-May

April 27, 2011 | 03:09am CEToriginal
At the event there will be representatives of companies Arthur D. Little, Tili Czech Republic, RWE Transgas, PRE, CEZ, MasterCard, Prazska plynarenska or TUV Sud...
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Auto-Staiger to leave Czech Rep after 20 years, got rid of all three showrooms

April 26, 2011 | 04:41am CEToriginal
One was rented, the second leased one was returned back and the Czech subsidiary with the third showroom will be sold to a mid-sized dealer group...
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