Altamin Limited Secures €3.62 Million Grant for Geothermal Brine Project in Italy
Altamin Limited has announced it will receive a €3.62 million grant from the Italian Ministry of Environment and Energy Security. This funding supports its involvement in the BRAIN project, which aims to produce commercial-grade sulphate of potash, lithium, and boron using geothermal energy at its Lazio project. The initiative includes environmental impact studies and aligns with EU sustainability objectives, enhancing the supply chain for critical raw materials. CEO Geraint Harris highlighted the project's potential to position Italy as a leader in brine separation technologies.
Theia Market Signal Identification - AI AssistedAltamin Limited, a mineral exploration company with a focus on base and critical metals, has announced a significant advancement in its operations with the receipt of a €3.62 million grant from the Italian Ministry of Environment and Energy Security. This funding is earmarked for the ambitious BRAIN project, which seeks to innovate the extraction of critical raw materials—specifically commercial-grade sulphate of potash, lithium, and boron—leveraging geothermal energy at Altamin's Lazio project, situated approximately 30 kilometers north of Rome.
The BRAIN project's total eligible expenditure has been approved at €2.825 million, allowing for a comprehensive testing of a new process aimed at scaling up production in an environmentally sustainable manner. In alignment with EU sustainability goals and Italian environmental regulations, the project includes rigorous studies such as a full environmental impact assessment and a lifecycle assessment.
CEO Geraint Harris expressed optimism regarding this partnership, emphasizing its potential to bolster Italy's leadership in brine separation technologies. He acknowledged the diligent work of the Altamin team in securing this non-dilutive funding, which is crucial for fostering technological development and knowledge dissemination. This initiative not only aims to enhance the extraction of raw materials but also supports the broader objectives of the EU's Critical Raw Materials Act, potentially paving the way for increased self-sufficiency in critical raw materials across Europe.
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