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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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April 21, 2010 | 02:56am CEToriginal
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April 21, 2010 | 02:47am CEToriginal
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April 21, 2010 | 02:26am CEToriginal
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Stephane Chauville left Czech and Slovak representation of Opel after eight months

April 21, 2010 | 02:11am CEToriginal
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April 21, 2010 | 01:58am CEToriginal
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CSOB Leasing to add free damage liability for one year to lease or credit in Q2

April 21, 2010 | 01:27am CEToriginal
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April 21, 2010 | 12:58am CEToriginal
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April 20, 2010 | 11:39pm CEToriginal
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April 20, 2010 | 02:04am CEToriginal
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April 20, 2010 | 01:56am CEToriginal
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April 19, 2010 | 10:00pm CEToriginal
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April 15, 2010 | 08:50pm CEToriginal
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AAA Auto registers growing interest in recovery of commercial vehicles, sales rose by 21% in Q1

April 15, 2010 | 08:11pm CEToriginal
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TPCA signed new collective agreement with unions

April 15, 2010 | 07:51pm CEToriginal
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Chinese carmaker Gonow entered Czech and Slovak markets

April 15, 2010 | 01:34am CEToriginal
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Prazska energetika itends to participate in eMobility development in Czech Rep

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Mitsubishi expects growth sales in Czech Rep and Slovakia in 2010

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April 15, 2010 | 12:29am CEToriginal
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April 14, 2010 | 11:58pm CEToriginal
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