Fiala negotiated lithium in Dresden. We can contribute to Europe's energy security, he says
UPDATED5/17/2023
In lithium, the Czech Republic has a unique opportunity to contribute to the energy security of the country and the whole of Europe, Prime Minister Fiala (ODS) said on Tuesday near the deposit at Cínovec in Teplick, where he stopped on his way to Dresden. There he met with the Saxon Prime Minister Michael Kretschmer, together they signed a memorandum of cooperation.

Events: Fiala negotiated lithium in Dresden
Fiala and Kretschmer signed a memorandum of cooperation on projects of strategic importance, including the acquisition of strategic raw materials such as lithium. With the document, the Czech Republic and Saxony commit to cooperation in strengthening raw material, energy and fuel security and self-sufficiency, to cooperation in the field of science and research, to strengthening cross-border cooperation in climate protection, reducing emissions and to cooperation in the transformation of industry and the acquisition of strategic raw materials, especially lithium .
The meeting between the two prime ministers took place on the occasion of the two-day international scientific conference Building Bridges for the Next Generations, which is being held in the Saxon capital until May 17.
"Science and research are the things that build bridges to future generations. If we are to multiply the chances for future generations, we must also build bridges between us, between our nations," said Fiala during the subsequent debate with the participants of the scientific conference. "The Saxon Prime Minister and I started building one of these bridges today," he said of the signed memorandum.
"On our common border there is an important lithium deposit, the largest in Europe. It is a metal that is of fundamental importance for the future of electromobility, for example, in the production of batteries, in ensuring our independence. Our common interest is to be able to use it quickly. And that is exactly what the signed memorandum will enable us to do," the Prime Minister declared.

Fiala stopped at Cínovec
On the way to Dresden, Fiala stopped at Cínovec, where there is the largest European deposit of lithium, which the European Union has classified as a so-called critical material. "We are on the threshold of the lithium revolution, because the use of lithium will grow significantly and Europe will intensively support the production of critical raw materials on its own territory," Fiala said. Lithium is the main raw material for the production of batteries for electric cars and batteries for renewable sources.
Deep mining at Cínovec is being prepared by the company Geomet, majority-owned by Severočeské doly, which belongs to the ČEZ Group. The final feasibility study, which will answer basic questions related to the production possibilities of Ore Mountains lithium, will be ready by the end of this year, Deputy Chairman of the ČEZ Board of Directors Pavel Cyrani told reporters on Tuesday.

Mining could begin at the turn of 2026 and 2027
Mining itself could start at the turn of 2026 and 2027, provided that in the second half of 2025 Geomet has a construction permit. According to Cyrani, the cost of the entire project is estimated at fifteen billion crowns. Part of it could be covered by subsidies from the Just Transition Fund.
"This is a minor part of the costs, especially for exploration work, when exploration will be expanded and mining will be opened. Otherwise, we assume commercial financing, a combination of shareholder financing and financing from banks," Cyrani said.
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ČEZ is negotiating with the mayors of the surrounding municipalities about mining. "We are trying to explain that this is a different type of mining than some may remember from before 1989, I believe we will convince everyone," he added.
According to estimates, about three percent of the world's lithium resources are in the Czech Republic, the vast majority in Cínovec and a small amount in Slavkovské les
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