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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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September 15, 2010 | 01:49am CEToriginal
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September 15, 2010 | 01:26am CEToriginal
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Brembo to enter mid-premium segment, building plant in Czech Republic

September 14, 2010 | 05:20am CEToriginal
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September 14, 2010 | 05:06am CEToriginal
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Auto Esa sent petition against tachometer manipulation to Minister of Transport Vit Barta

September 14, 2010 | 04:05am CEToriginal
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Daechang Seat wants to increase production in Czech Rep, planning to build new plant in Trinec

September 13, 2010 | 01:00am CEToriginal
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Volkswagen sales rose by 11.2% in August, by 13.4% over eight months

September 13, 2010 | 12:26am CEToriginal
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Hyundai introduced its first EV, based on smallest model i10

September 12, 2010 | 11:42pm CEToriginal
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3M wants to invest USD 2 billion in Central and Eastern Europe, partly in Czech Rep

September 10, 2010 | 06:24am CEToriginal
The investment is also oriented to a purchase of innovative companies or their shares. The new technology centre in Prague; lightweight materials, which are being glued...
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Renault wants to expand own dealer network in Czech Rep

September 10, 2010 | 06:17am CEToriginal
It plans to add other premises to the present one in Prague 5. Results of Renault Retail Group in the Czech Republic and Europe in 2009, plans for 2010…
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Ceska podnikatelska pojistovna increased selected rates of damage liability and accident insurance from September

September 10, 2010 | 06:04am CEToriginal
At the same time, CPP began to transfer the bonus of compulsory third party liability to accident insurance. Details of rate increases and the reasons...
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Car prices dropped by 0.3% m/m in Czech Rep in August

September 10, 2010 | 05:57am CEToriginal
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Raiffeisen - Leasing: Internet application participates in total car financing with 11%

September 10, 2010 | 05:40am CEToriginal
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Mann+Hummel expanded its range with urea filters for SCR systems

September 10, 2010 | 05:18am CEToriginal
The company will introduce a new filter of the Mann-Filter brand at the 2010 Automechanika fair in mid-September. Details of the filter and a new catalogue...
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Arval increased number of vehicles financed by 7.1% in Czech Rep in 2009

September 9, 2010 | 03:56am CEToriginal
The company has provided clients with 2,400 cars for CZK 1 billion. The electronic log book, economic consulting, e-driver training...
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Jiri Matula replaced Martin Kofron in CLFA management

September 9, 2010 | 12:41am CEToriginal
The vacant position of a vice chairman has been occupied by the long-time member of the CLFA Board, Blazena Valkosakova. The current personnel manning of the Board...
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Toyota Financial Services added new applications for customers and dealers on its website for funding in Czech Rep

September 9, 2010 | 12:12am CEToriginal
These allow negotiating lease or loan contracts and insurance for new cars online. For used cars...
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Direct Pojistovna began to use tool for content personalization for web users

September 8, 2010 | 02:59am CEToriginal
The module is also able to optimize the performance of online campaigns on external web portals. Details of the tool, its supplier...
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Kia Motors to recall over 100,000 Soul and Sorento cars worldwide

September 8, 2010 | 02:36am CEToriginal
In response to this the carmaker’s head, Jeong Sung Eun has resigned. Details of the problem, the production series, a number of affected vehicles in the Czech Republic...
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Clients of Direct Pojistovna with car to be depreciated after recent calamities can take advantage of favorable comprehensive insurance for 1 year

September 7, 2010 | 04:11am CEToriginal
The insurance for CZK 1 for clients affected by floods, 3 months free insurance for hail...
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Volkswagen increased production in Slovakia by 43% in H1, turnover by 37%

September 7, 2010 | 03:55am CEToriginal
The German carmaker also increased production of gearboxes in Slovakia, namely by about 78%...
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CSOB Pojistovna: After year and half Czechs still have problems with correct filling in record of accident

September 7, 2010 | 01:01am CEToriginal
The problems can be avoided by reporting the accident to an insurance company or assistance service from the place of accident. The most common mistakes...
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CKP recovers more penalty charges from non-payers of damage liability

September 7, 2010 | 12:32am CEToriginal
Since January 2009, over CZK 200 million have been paid to the guarantee fund of CKP, of which in 2010...
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Ford Motor expand management in Czech Rep, separating sales and marketing

September 6, 2010 | 12:57am CEToriginal
The importer is thus returning back to the original structure after several years. It has solved all changes by promoting of its own employees...
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