Critical Metals Corp. (Nasdaq: CRML) has confirmed that the Austrian Government has renewed the Wolfsberg lithium project licence for an additional two years, countering recent incorrect media reports. The renewal provides continued regulatory certainty for the company’s flagship European lithium asset at a time when global lithium prices have strengthened sharply following a prolonged period of weakness.
Tony Sage, chairman of Critical Metals Corp., commented, “We have recently met with Obeikan (our Saudi hydroxide plant partners) and agreed a framework for a ‘decision to mine’ by the end of 2026 if prices remain robust and financing options are available.”
Lithium pricing has rebounded strongly over the past six months. Battery‑grade lithium carbonate prices in China have risen to approximately CNY 168,000–170,000/t, equivalent to about US$23,000–24,000/t, representing gains of more than 40% month‑on‑month and over 100% year‑on‑year in some benchmarks. Prices briefly approached CNY 180,000/t in late January. Spodumene concentrate (6% Li₂O, CIF China) has also recovered, trading in the US$2,000–2,168/t range amid tightening supply conditions and renewed speculative activity.
Analysts expect the upward trend to continue through 2026, supported by strong demand from battery energy storage systems, robotics, drones, and electric vehicles. Forecasts point to a narrowing surplus or even a small deficit in lithium carbonate equivalent as global supply additions remain limited. Critical Metals said this market environment enhances the Wolfsberg project’s potential to attract financing, particularly as Europe continues to prioritise secure, non‑Chinese lithium supply.
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