European Lithium will use cutting-edge technology to help fuel Europe’s sustainable energy future
Last updated: 12:10 01 Mar 2024 AEDT, First published: 16:31 08 Jan 2023 AEDT
Snapshot
- European Lithium’s Critical Metals Corp holding worth A$1.3 billion on Nasdaq listing
- What’s needed to fuel EV expansion in Europe: McKinsey
- European Lithium boosts lithium interests in Europe’s heart
About the company
European Lithium Ltd (ASX:EUR) is a mining exploration and development company focusing on its wholly-owned Wolfsberg Lithium Project in Austria.
The company is advancing the project in the heart of Europe with the intention of helping to meet Europe’s growing demand for self-sufficiency in the supply of natural resources.
How it is doing
Newly minted Critical Metals Corp, the union of European Lithium Ltd (ASX:EUR, OTCQB:EULIF) and Sizzle Acquisition Corp, has commenced trading on the Nasdaq stock exchange under the ticker CRML as of February 28.
The company is poised to advance the construction and commissioning of the Wolfsberg Lithium Project.
Critical Metals Corp saw its share price close at US$12.38 each on February 29, garnering European Lithium shareholders a valuation of US$839,220,182 or around A$1.3 billion for shares held.
European Lithium is the principal shareholder, holding an 83.03% stake post-transaction, and the new entity inherits the company’s ambitions to become a pivotal supplier in the lithium-ion battery supply chain across Europe.
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) is gaining traction in the lithium and rare earth sectors in its namesake target market, says Martin Place Securities, with a series of strategic initiatives placing it on a growth trajectory.
The key drivers of this growth include the company’s Wolfsberg Lithium Project, a diverse portfolio that spans across Europe, and a listing on the Nasdaq.
Key player in lithium hydroxide production European Lithium Ltd (ASX:EUR, OTCQB:EULIF) is making strides in its joint venture with Saudi Arabia's Obeikan Group to develop a new hydroxide processing plant.
The partnership has increased the planned capacity of the hydroxide processing plant from 10,000 to 20,000 tonnes per annum, showcasing a commitment to scaling operations and meeting growing market demands.
Insight: What’s needed to fuel EV expansion in Europe: McKinsey
Europe will need at least three million more electric vehicle charging stations by 2030 to meet the projected growth for EVs on the continent, according to a new report by McKinsey.
That will require a staggering 807% increase over less than a decade, a prospect that will have lithium miners across the globe rubbing their hands together with glee.
What management says
European Lithium Ltd (ASX:EUR, OTCQB:EULIF) chairman Tony Sage speaks to Proactive’s Elisha Newell after the company bolstered its critical minerals exposure in the heart of Europe with three new lithium projects. Spodumene pegmatite samples from the Bretstein-Lachtal, Klementkogel and Wildbachgraben assets returned up to 3.98% lithium oxide just a stone’s throw from EUR’s advanced Wolfsberg project. Sage says the company’s expanded portfolio will fit seamlessly with its existing landholding in Austria’s resource-rich Styria mining district.