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European Metals granted preliminary mining permit for eastern, and final, part of Cinovec lithium project

Cinovec is held through Geomet, a joint venture with a Czech company

European Metals Holdings -

European Metals Holdings Ltd (LON:EMH) (ASX:EMH) has been granted an updated preliminary mining permit for the eastern part of the Cinovec lithium deposit by the Czech Ministry of the Environment.

The permit has been issued for a period of eight years. A preliminary mining permit is a necessary legal pre-qualification before obtaining a final mining permit.

The approval covers an area of 0.201 square kilometres and means that, in combination with previously granted preliminary mining permits, the entire Cinovec ore reserve is now permitted. Cinovec is held through Geomet, a joint venture with a Czech company.

"This PMP renewal confirms the rapid advancement of permitting of the Cinovec project,” European Metals managing director Keith Coughlan in a statement.

“There has been a significant increase in the financial and political support for the development of a battery industry in the EU in recent months and a renewed focus on the development of local supply chains. Cinovec is by far the largest hard rock lithium resource in the EU, containing in excess of 65% of the known total resources.

"This fact, together with the advanced state of the project, the low-cost profile, and the significant support of its major shareholder places the project ideally to supply battery-grade lithium products into the European Battery Industry," he added.


Quick facts: European Metals Holdings

Price: 16.4 GBX

Market: AIM
Market Cap: £25.67 m

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