European Metals Holdings Ltd (AIM:EMH, ASX:EMH, OTCQX:EMHLF) has chosen a new site for its Cinonec lithium processing plant, in a commercial domain and further away from populated spaces than the previous site.
Following an assessment and in cooperation with the relevant municipal and regional authorities, the site of the former Prunéřov 1 power plant, which was closed in 2020, was chosen.
The site, which is owned and operated through CEZ, EMH’s assigned partner, is also much larger than the former Dukla site and the company said it will allow the processing plant to be installed more successfully and cheaply, allowing for “better and faster constructability. “
Chief Executive Keith Coughlan said: “Although it produces smart effects for the surrounding communities, the resolution to relocate Dukla’s lithium processing plant to Prunéřov is expected to have positive final results in project capital and maintenance expenses consistent with the tonne due to the option of a faster permitting procedure and more effective design of the processing plant.
He added that these discounts on capital and expenses will be incorporated into the Definitive Feasibility Study (SAI).
“As expected in such circumstances, we were unable to provide data on this factor while a revised allocation configuration was being formulated, due to sensitivity to social and environmental impacts and we had to postpone EDF until the main points of the new site were agreed. ” Coughland added.
“We understand that postponing the transfer to a DFS is sometimes a negative issue, but in this case we consider it to be a positive result, especially since the Prunéřov power plant is currently located in Prunéřov and the permit can now be obtained. faster with the cooperation of local, regional and federal governments.
According to him, in the context of the European Union’s Critical Raw Materials Act (CRMA), the collaboration of joint venture partners Cinovec and the Czech government in the decision-making process provides a “very solid basis for our next strategic allocation request. “”CRMA Status.
A spokesperson for the Geomet company added that the construction of a processing plant on a commercial site, located further away from populated areas, “is in line with our philosophy of coal processing, as it would provide enough jobs for workers in the last coal mines. and near the power plants. “
An ore loading facility will continue to be built on the original Dukla plant, from where the ore will be transported by rail to Prunéřov.
The mayor of Kadaň praised the plan and the promotion of local employment in the context of the “end of coal”.
Learn more about Proactive Investors AU
Disclaimer