European Metals Holdings Limited (ASX: EMH | AIM: EMH) has announced that the European Commission has declared Cinovec to be a strategic project under the recently implemented Critical Raw Materials Act (CRMA).
The declaration confirms the importance of Cinovec in supplying battery grade lithium chemicals to the European battery supply chain, and the strategic project status will bring with it explicit support from European institutions, including financial institutions. Also, permitting will be brought within accelerated and simplified process and time limits set out within the CRMA.
The CRMA aims to strengthen security of critical raw material supplies, reduce dependence on imports from third countries, and support innovation in the sustainable sourcing of mineral resources. Lithium is a key raw material for the transition to a modern low-carbon economy, and critical for the development of the automotive industry and the modernization of the power sector.
The designation of the Cinovec Project as a strategic project under the CRMA represents confirmation of the advanced stage of development of the Project. The definitive feasibility study (DFS) is progressing towards completion in mid-2025, with the environmental impact assessment (EIA) to be completed and submitted for approval by the end of 2025.
To find out more, please visit www.europeanmet.com
To read more articles like this, please visit www.theassay.com/news
