AFR: Lithium aspirant Vulcan lands $825m from European...

AFR: Lithium aspirant Vulcan lands $825m from European Investment Bank

“London | ASX-listed lithium aspirant Vulcan Energy Resources is poised to score a €500 million ($825 million) loan from the European Investment Bank, as the company looks to raise up to €1.8 billion to get its major project in Germany operational...

...“Public financing of this quantum is an important signal to other financiers in the process that the EU are fully behind us, as we build up to supply our EU customers with a geopolitically secure and sustainable supply of lithium for electric vehicles,” Dr Wedin told AFR Weekend...

...Dr Wedin said Vulcan’s business would be largely unaffected by the market volatility because the price at which it would sell its lithium output had been contractually fixed with the European automotive giants. “Our business model is based on offtake agreements we have locked in with the likes of Stellantis and Renault, and our cost of production is very low,” he said. “So our pricing and revenues are pretty stable in a volatile lithium market, and our business case doesn’t really change much, it is still very robust.”