The thing is, there’s plenty of lithium in the ground all across Europe – and now the Australians are coming to help the Europeans get it out. And they also want to convert it into battery-grade lithium, cutting out the processing superpower, China.
EMH is building a hard-rock lithium extraction and processing plant in the Czech Republic, and wants to be in the construction phase by next year, hoping to churn out at least 25,000 tonnes of lithium hydroxide a year.
Infinity Lithium has a hard-rock extraction project in Spain, which is looking to start processing in 2023 and is aiming for 15,000 tonnes of lithium hydroxide a year.
Vulcan wants to use geothermal energy to extract lithium hydroxide from brine in southern Germany. Its untested process is a little further behind, but could be up and running by 2024.
European Lithium has a hard-rock project in Austria that hopes to produce up to 10,000 tonnes of lithium hydroxide annually by 2022, although its most recent update said COVID-19 had slowed progress. Perth mining player Tony Sage is the non-executive chairman.
Savannah Resources has a hard-rock resource in Portugal, and is looking to have the spodumene concentrate converted in China. The company is London-listed but both CEO David Archer and technical director Dale Ferguson are Australian.
Infinity Lithium Corporation (ASX: INF) has been told its 75%-owned San Jose project in Spain is the first such lithium project to receiving financing from the European Union.
San Jose, the second largest hard rock lithium deposit in the European Union, will receive backing from the EIT InnoEnergy initiative, a public-private partnership supported by the European Commission and which has been mandated to lead the industrial stream of the European Battery Alliance (EBA).
The plan will incorporate several stages that could see Infinity expand its finances in three stages, the largest one being €300 million (A$492 million).
Perth-based retail and industrials conglomerate Wesfarmers has announced it will forge ahead with a near billion-dollar investment to construct a lithium mine in the Western Australian region of Mt Holland.
Wesfarmers told investors after market close on Wednesday evening it had made a final decision to proceed with the investment in the mine and its associated refinery in Kwinana which it is building via a joint agreement with Chilean chemical company Sociedad Química y Minera de Chile (SQM).
There is plenty of lithium out there and the Europeans are favouring mines and construction within Europe. Jobs and construction for the EU with plenty of recycling to happen. I can't see much value accretion within the sector while Australia keeps pumping out endless amounts of lithium from WA. Don't forget Wodgina is mothballed with Greenbushes expanding as well.
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