LONDON (Alliance News) - European Metals Holdings Ltd on Tuesday said tests have confirmed it could produce battery-grade lithium hydroxide from its Cinovec lithium tin project in the Czech Republic.
Shares in European Metals were up 5.9% at 18.00 pence on Tuesday.
The announcement by European Metals was noted by natural resources-focused investment company Cadence Minerals, which holds a 19% stake in European Metals.
The miner has developed and tested a flowsheet for the production of lithium hydroxide from Cinovec ore, with a potential production rate of more than 25,000 tonnes per annum of lithium hydroxide from the mine.
European Metals is working to update the preliminary feasibility study of Cinovec to reflect this possibility so that the final product from Cinovec will be battery grade lithium hydroxide. It will also have an option to make battery grade lithium carbonate with sufficient market support.
European Metals Managing Director Keith Coughlan said: "The clear majority of European battery producers are indicating a requirement for lithium input to be supplied as battery grade lithium hydroxide. The fact that [European Metals] has now demonstrated the ability to produce this product from Cinovec ore is an exciting development that will enable the company to supply its final product into the European marketplace."
European Metals Holdings (EMH)
Cadence Mineral (KDNC)