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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

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January 13, 2011 | 02:59am CEToriginal
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January 13, 2011 | 02:49am CEToriginal
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January 12, 2011 | 05:06am CEToriginal
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Porsche Inter Auto increased sales of new cars by 11% in Czech Rep in 2010, planning further increase in 2011

January 12, 2011 | 04:54am CEToriginal
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Toyota Motor appointed new vice president of Czech and Slovak representations after six months

January 12, 2011 | 04:33am CEToriginal
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January 12, 2011 | 04:24am CEToriginal
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January 12, 2011 | 04:13am CEToriginal
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Lenka Martinova returned to post of marketing director at Citroen in Czech Rep

January 12, 2011 | 03:47am CEToriginal
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CEZ announced tender for supplies of charging stations from 2011 to 2013, to assess it in late January

January 11, 2011 | 04:23am CEToriginal
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Pekny (Kia): We aim to increase sales in Czech Rep by double-digit pace in 2011, to exceed limit of 10,000 cars in 2012

January 11, 2011 | 04:03am CEToriginal
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Peugeot to introduce services Peugeot Connect and Mu by Peugeot in Czech Rep

January 11, 2011 | 03:51am CEToriginal
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Sipek (SAP): Czech Rep should support bus fleet rejuvenation by introducing grant conditions

January 11, 2011 | 03:34am CEToriginal
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Pekny (SDA, Kia): New car registrations in Czech Rep to stagnate in 2011, re-exports to end, market to rise

January 10, 2011 | 04:47am CEToriginal
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CEZ aims to test also trucks, buses and motorbikes within e-mobility implementation

January 10, 2011 | 04:26am CEToriginal
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Audi began to offer extended warranty up to 5 years/150,000 km in Czech Rep

January 10, 2011 | 04:15am CEToriginal
Extended warranty from the manufacturer can be ordered when buying a new car. Options and prices for each model...
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Citroen aims to sell 2,000 new C4 cars a year and reach 8% share in segment in Czech Rep

January 10, 2011 | 04:00am CEToriginal
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Sales of new cars up to 3.5 tonnes in Czech Rep fell by 0.2% in 2010, SDA estimated growth

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Martin Strnadel became new Hyundai fleet manager in Czech Rep

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Skoda Auto sales rose by 11.5% in 2010

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The brand cracked the threshold of three quarters of a million sold vehicles for the first time. In the most important growth markets the automaker has seen growth of more than 40%...
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Auto Esa increased sales by 9.5% in 2010

January 6, 2011 | 02:22am CEToriginal
The company almost fulfilled the plan accounting for 10% growth and has continued in sales growth in recent years. Since 1993, Auto Esa has sold a total of...
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Carnoy (Peugeot): Czech market and Peugeot sales to rise in 2011, the brand to grow faster

January 5, 2011 | 04:43am CEToriginal
Preliminary results of 2010, a plan of used car sales in 2011, outlook for the Czech market...
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