Hi all, hope everyone's well
This is the week things start to get exciting.
we have the April announcement stage - referenced again in the new video I found from 3 weeks in Singapore - perfectly coincidencing with the Cmra coming into full force - which is massive for EMH while the largest lithium deposit in Europe and a globally significant tin resource.
https://youtu.be/HanAlR9Desg?si=V1vMD1NlDamQjZN5
https://x.com/MarosSefcovic/status/1780687644663685580?t=7GFuDDf8RPcbRlCGN8XSfg&s=08
https://x.com/CzechLithium/status/1750112472483135495?t=qEGAya3B0tLA_viwaAN59A&s=08
Keith said CEZ have been invaluable and that more will come of it during the announcement stage at end of April. We know there will be upgrades - but there's also this which can be a major green light https://www.engineeringnews.co.za/print-version/european-metals-flags-potential-improvements-in-delayed-dfs-2024-03-27
"As Europe's largest hard-rock lithium mining and processing project, the Cinovec project is applying for and is expected to receive strategic project designation under the CRMA.
The project has already been granted strategic process status under the EU's Just Transition Fund."
The Cmra starting early May while the Czech government have the 8bn Gigafactory factory offer on the table.
https://centraleuropeantimes.com/2024/03/mystery-ev-firm-to-build-eur-8bn-plant-in-czechia/
Sikela also revealed in November that Czechia is in discussion with five other potential EV plant investors “from other continents”. Fiala said, “the gigafactory project is a strategic government priority, and it is in our interest to have the entire chain from lithium mining through the gigafactory, i.e. battery production, to the final products in Czechia.”
https://www.lse.co.uk/rns/EMH/czech-pm-visits-cinovec-signs-moc-with-saxony-pm-mwkqeepvayfkxu7.html
Then also approaching a grant in May that's still worth more than the current mcap....
https://youtu.be/3Tl6Q4-5EOo?si=YW91Dtx6qAlOvPuU
Listen 3.33
https://youtu.be/QeLlbp1vzI8?si=CBcLhkYE9bJvGHP7
Listen 4.55
Keith hasn't been slow - Europe has been slow, until now. Having a Major partner, who's the 70% state owned power company helps with all the above. The prime minster wanting all of this - while less than half the price the bank paid.
DFS and Offtake come to fruition after the above. The Sp was in the 30s in December and now have cmpany making weeks and couples months ahead.
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Our 2030 trajectory is clear: The Critical Raw Materials Act sets ambitious but vital goals for Europe to grow its metals resilience to supply the energy and digital transition. Now, the challenge is equally clear: delivering on this, and with speed.
Evangelos Mytilineos is the President of Eurometaux.
We as a sector have a clear message. We can deliver for Europe, if Europe delivers too and unlocks our full potential. But the window for real action is fast closing, risking an energy transition built on unsustainable metals dependencies.
According to our new forecasts, meeting the EU’s 2030 raw material goals will require the opening of at least 10 new mines, 15 processing plants, and 15 recycling plants in Europe.
Europe also urgently needs to reopen its curtailed capacity, still impacting over 20 existing operations that represent around 50% of the EU’s total capacity in the aluminium, silicon, and zinc sectors. We must start financing global mining projects, act to raise recycling rates and circularity, and address our raw materials skill gap.
First, the good news. In Europe, we currently have over 70 mining, processing, and recycling projects in planning. We’re committed to high environmental and social protections to differ. If a majority become operational by 2030, Europe could reach some or all its benchmarks for lithium, copper, aluminium, nickel, cobalt, and silicon.
For other raw materials, like platinum group metals, strengthening Europe’s existing base and trade links is the major priority. And we’ll still need new project announcements too, from rare earths to gallium to germanium.
But very few projects have resulted in final investment decisions to date, especially after a deterioration of EU business conditions in the last three years, primarily driven by high European energy costs, increasing regulatory load, and the subsidies available to investors in competing regions.
Take lithium: although Europe has almost 20 mining and processing projects in its pipeline, only two currently have a confirmed start date today.
In the same period, other regions have launched their own critical minerals support programmes, from the US Inflation Reduction Act to new funds from Canada, Australia, South Korea, and Japan. Global capacity is ramping-up in regions powered by coal. The US will open its first aluminium smelter in 45 years.
That’s why we’re calling on the European Commission to act urgently and bridge our growing competitiveness gap – saving and creating jobs while fostering innovation.
2030 is only around 2000 days away, meaning our window for finalising investment will be closing imminently. Without a real business case, we’ll see more investments and capacity permanently leak abroad. This is bad for our economy and our climate.
The Critical Raw Materials Act’s adoption is the first important step to getting this ball rolling. Our companies will start applying for strategic project status and the accelerated permitting that brings.
But we need the next European Commission to go further and faster, delivering much strong policy incentives that rival other parts of the world, and with real urgency. We have readily available solutions – like our proposals for derisking renewables power purchase agreements for power intensive metals producers – which urgently need unblocking.
We need a dedicated EU raw materials bank, we need action for globally competitive and decarbonised energy, and we need an alignment of EU regulations towards the one common objective of industrial and economic growth.
Let me give you three reasons why going further and faster is so important.
First, the more metal we produce here, the more sustainable our energy transition. Take nickel for batteries: achieving the EU’s 40% processing benchmark will produce at least four times less greenhouse gas emissions than the coal powered Indonesian nickel dominating today’s market. This alone will save the equivalent of the annual emissions of 1 million petrol cars.
Second, the more metal we produce here, the more secure our energy transition. In the last two years, we’ve seen China restrict exports of germanium, gallium, graphite and rare earth equipment. We don’t know what’s next, but we’re confident there’s more to come.
And third, the more metal we produce here, the more jobs we’ll be maintaining and creating in the areas of Europe that need them – from Sweden’s arctic north to Germany’s industrial heartlands and the southern tips of Italy, Spain, and Greece.
That’s why we’re sending out a strong rallying call today for European raw materials resilience.
Our industry wants to commit to ‘cooking up’ real raw materials resilience in Europe and for Europe. And we have a clear and actionable recipe to make that happen.
Now we need the European Commission and national governments to act with urgency to make sure we have the same well-equipped ‘industrial kitchen’ as our rivals.
The Critical Raw Materials Act has set the scene, now the real action must start. It’s
once our closed industries reopen and new investments are finalised, that we’ll be
able to applaud Europe’s success.
Let’s make it happen.
(20min delay)
