Czech Republic to Develop Major Lithium Mine in Cinovec with Support from CEZ and EU Funding
The Czech Republic plans to develop a significant lithium extraction project in Cinovec, which holds up to 3% of global lithium reserves. European Metals Holding, in partnership with CEZ, aims to start mining by 2030, backed by EU funding. The project, recognized under the Critical Raw Materials Act, is pivotal for establishing a domestic lithium supply chain for electric vehicle batteries and green technologies.
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The Czech Republic is advancing a lithium extraction project in Cinovec, estimated to contain up to 3% of global reserves. European Metals Holding (EMH) and state-controlled CEZ are leading the initiative, which aims to commence mining operations by 2030 at a projected cost of 42 billion Czech crowns (approximately 1.75 billion euros).
The project has received strategic status from the European Commission and financial backing, including a 36-million-euro grant from the EU's Just Transition Fund. The Czech government supports the venture as crucial for establishing a local supply chain for lithium, currently reliant on imports from countries like China and Argentina.
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