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Critical Metals Corp. (Nasdaq: CRML) ("Critical Metals Corp" or the "Company"), a leading critical minerals mining company, today announced that ECM Lithium AT GmbH has received the decision of the Federal Administrative Court in the appeal proceedings concerning the requirement for an environmental impact assessment (EIA) for its "Koralpe Lithium Mining" project. The Federal Administrative Court overturned the decision of the Carinthian state government, which had ruled that no EIA under the Austrian EIA Act 2000 was required for the construction of the lithium mine on the Koralpe mountain and remanded the matter to the Carinthian state government for a new decision.
The Federal Administrative Court accepted the project applicant's argument that the size of the project does not exceed the 10-hectare threshold stipulated in the Austrian EIA Act for the requirement of an EIA. However, the court thinks that the current legal provision is not in accordance with European Union law.
The Federal Administrative Court accepted the project applicant's argument that the size of the project does not exceed the threshold of 10 hectares stipulated for the EIA requirement in the Austrian EIA Act. Therefore, although the project falls below the 10-hectare threshold stipulated in the law, the Federal Administrative Court has ordered the Carinthian state government to conduct a case-by-case review to determine whether the project could lead to significant harmful or burdensome environmental impacts.
At the same time, the Federal Administrative Court has granted leave to appeal its decision to the Administrative Court of Justice, as there is no existing case law on whether the Austrian regulation complies with European requirements and how this legal provision should be interpreted.
The decision does not mean that the project must undergo an environmental impact assessment (EIA), but merely that the Carinthian state government must disregard the 10-hectare threshold, which the Federal Administrative Court considers incompatible with European law and reassess whether an EIA is necessary based on further expert opinions.
ECM Lithium AT GmbH will review the ruling to determine its next steps.
Tony Sage, CEO and Chairman of CRML, commented:
" This decision by a lower court is surprising and completely contrasts the EU's desperation to be self-sufficient in critical minerals. This has no impact on our timing for the commencement of mining at Wolfsberg, and we are extremely confident as a matter of law that our full environmental Approval to commence mining will be reinstated ."
About Critical Metals Corp.
Critical Metals Corp (Nasdaq: CRML) is a leading mining development company focused on Critical Metals and minerals, and producing strategic products essential to electrification and next generation technologies for Europe and its western world partners. Its flagship Project, Tanbreez, is one of the world's largest, rare earth deposits and is located in Southern Greenland. The deposit is expected to have access to key transportation outlets as the area features year-round direct shipping access via deep water fjords that lead directly to the North Atlantic Ocean.
Another key 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 and is expected to be the next major producer of key lithium products to support the European market. Wolfsberg is well positioned with offtake and downstream partners to become a unique and valuable asset in an expanding geostrategic Critical Metals portfolio.
With this strategic asset portfolio, Critical Metals Corp is positioned to become a reliable and sustainable supplier of critical minerals essential for defense applications, the clean energy transition, and next-generation technologies in the western world.
For more information, please visit https://www.criticalmetalscorp.com/ .
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This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements may include expectations of our business and the plans and objectives of management for future operations. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this news release, forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "designed to" or other similar expressions that predict or indicate future events or trends or that are not statements of historical facts. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors discussed under the "Risk Factors" section in the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this news release, and expectations, forecasts and assumptions as of that date, involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Critical Metals Corp.
Investor Relations: ir@criticalmetalscorp.com
Media: pr@criticalmetalscorp.com
