I too have recently read about this European Battery Alliance Materials Fund which has a target amount of 500 million euros. It really is fantastic news and, I agree with you, it virtually guarantees the successful funding of the Cinovec Project. It is reported that the EBA Materials fund builds on the success of the EBA in its mission to create a sustainable European battery industry and will focus on projects in the early stages of production (scoping, PFS and DFS) that are committed to a sustainable traceable and transparent supply chain for battery materials. As your article notes, at least 70% of investments from the EBA Materials fund will be earmarked for projects increasing EU domestic production from mining, processing, refining and recycling in the EU and neighbouring countries. In my opinion this announcement significantly derisks the Cinovec Project.
EMH Price at posting:
28.0¢ Sentiment: Hold Disclosure: Held
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