Infinity Lithium has received strong support for its Spanish lithium project from the EU Commission’s VP in his keynote speech at the European Battery Alliance conference in Belgium. The EU is keen to capture some of the forecast €250b lithium market value and said that €20b would be made available for European lithium project development through the Battery Investment Platform.
European-focussed, Infinity Lithium, has received strong support for its San José lithium-tin project in western Spain, which has been recognised as being of strategic importance in the European lithium space at a recent convention held in Belgium.
Infinity was endorsed by the European Commission’s Vice President, Maroš Šefčovič, in his keynote speech given at the European Battery Alliance conference in Brussels this week.
The European Commission is the executive branch of the European Union, who manages the day to day activities of the EU and is responsible for proposing legislation, implementing decisions and upholding EU treaties.
Vice President Maroš Šefčovič said:“Infinity lithium is planning on producing 15,000 tonnes of lithium hydroxide in Spain and is in negotiations with four European industrial players.”
The EU is rather cognisant of driving engagement between the European Investment Bank, the European Battery Alliance, lithium suppliers and end-users for the battery metal products.
Therefore, the VP’s recent comments regarding Infinity are considered a major tick of approval for San José and adds further weight to the EU’s recognition that access to these raw battery materials is essential for ensuring the supply of lithium in its emerging Electric Vehicle automotive industry.
The company also led EU lithium representation at a recent stakeholders meeting, which saw the launch of the Battery Investment Platform. At that meeting, the European Battery Alliance emphasised that the lithium-ion battery market will be worth €250 billion - AUD$404 billion by the end of 2025.
The EU is keen to capture some of that value and secure the supply of lithium and has forecast that €20 billion will be made available for mining, refining and recycling projects through the Platform, over the next four years.
European demand for lithium-ion batteries could hit 400GWh in 2025 and plans are in place for the construction of between 15 and 25 Giga-factories in the region to meet this burgeoning requirement.
Infinity is currently developing the San José project in Spain, where it will mine and then refine lithium into high-value lithium hydroxide salts for use in the lithium-ion battery sector.
San José has the EU’s second-largest JORC-compliant lithium mineral resource of 111.3 million tonnes grading 0.61% lithium oxide and 206 parts per million tin.
With the recent endorsement from the EU, it appears that Infinity is kicking plenty of goals in Europe at the present time.
Is your ASX listed company doing something interesting ? Contact : email@example.com