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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.