European Lithium Limited

BMW Commits to Wolfsberg Lithium Project

European Lithium Limited (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to announce that Bayerische Motoren Werkte Aktiengesellschaft (BMW) has transferred funds of US$15 million to ECM Lithium AT GmbH (ECM), a wholly owned subsidiary of Critical Metals Corp (Nasdaq: CRML) in relation to the offtake of battery grade lithium hydroxide (LiOH) from the Wolfsberg Lithium Project in Austria which is to be offset against LiOH delivered to BMW (Refer to ASX Announcement 21 December 2022).


Tony Sage, Chairman of EUR, commented: “This is a huge milestone for the Wolfsberg project which now paves the way for the next financing steps”.

European Lithium holds 67,788,383 (83.03%) ordinary shares in Critical Metals. Based on the closing share price of Critical Metals being US$10.67 per share as of 5 June 2024, the Company’s current investment in Critical Metals is valued at US$723,302,047 (A$1,084,953,070) noting that this valuation is subject to fluctuation in the share price of Critical Metals. Through this significant interest, EUR is aligned with Critical Metals vision to become a key supplier for the lithium-ion battery supply chain in Europe.

About CRML

Critical Metals Corp. is a leading mining company focused on mining critical metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its partners. Its initial flagship asset is the Wolfsberg Lithium Project located in Carinthia, 270 km south of Vienna, Austria. The Wolfsberg Lithium Project is the first fully permitted mine in Europe and is strategically located with access to established road and rail infrastructure to become the next major producer of key lithium products to support the growing demand for electric vehicles (EVs) and Europe’s burgeoning lithium-ion battery supply chain. In addition, Critical Metals owns a 20% interest in prospective Austrian mineral projects previously held by European Lithium Ltd.


Click here for the full ASX Release

This article includes content from European Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

EUR:AU
The Conversation (0)
European Lithium

European Lithium


Keep reading...Show less

Developing the Advanced Wolfsberg Lithium Deposit in Austria

Outstanding New 2024 Diamond Drill Results Tanbreez Project

Outstanding New 2024 Diamond Drill Results Tanbreez Project

European Lithium (EUR:AU) has announced Outstanding New 2024 Diamond Drill Results Tanbreez Project

Download the PDF here.

Aerial view of a brightly lit cityscape at night, with glowing street patterns and waterways.

Landsat Data Shaping Lithium-Mining Plans at Nevada’s Thacker Pass

A Nevada lithium project central to US efforts to secure domestic mineral supply is leaning on a half-century-old satellite program for modern answers.

The US Geological Survey’s (USGS) Landsat program, managed with NASA, has provided continuous Earth observations since 1972. Its freely available images allow scientists and industry leaders to measure landscape changes with precision.

In Northern Nevada, those insights are proving crucial as Lithium Americas (TSX:LAC,NYSE:LAC) works to advance Thacker Pass in a way that meets strict environmental and land-use standards.

Keep reading...Show less
Livium Expands Clean Energy Waste Recycling Capabilities

Livium Expands Clean Energy Waste Recycling Capabilities

Livium (LIT:AU) has announced Livium Expands Clean Energy Waste Recycling Capabilities

Download the PDF here.

Green Technology Metals

Green Technology Metals


Keep reading...Show less
Livium Ltd

Livium Signs Binding Term Sheet with Iondrive related to DES Technology for Clean Energy Waste Recycling

Livium Ltd (ASX: LIT) ("Livium" or the "Company") is pleased to announce it has signed a binding term sheet (“Term Sheet”) with Iondrive Limited (ASX: ION) (“Iondrive”), an Australian company developing an innovative metal extraction process using Deep Eutectic Solvent technology (DES), via their subsidiary Iondrive AU Pty Ltd.

Keep reading...Show less
Glowing digital battery icon with particle connections on dark background.

CATL Mine Restart Pressures Australian Lithium Market

Australia’s lithium sector is facing pressure on the back of news that Chinese battery giant Contemporary Amperex Technology (CATL) (SZSE:300750,HKEX:3750) is expected to resume production at its Jianxiawo mine.

Operations were halted in August when the mine’s licence expired, with the suspension expected to last three months.

Located in Yichun, Jiangxi province, Jianxiawo produces about 65,000 tonnes of lithium carbonate equivalent annually, roughly 6 to 8 percent of global supply. It is the largest mine in Yichun, often referred to as China’s “lithium capital.”

Keep reading...Show less

Latest Press Releases

Related News