RE: DSF5 Jul 2024 08:35
........The results of the feasibility study have been awaited for years by other interested parties in lithium mining in the Czech Republic, including the Cínovecká deposit from the RSJ group of billionaire Karel Janeček. The latter wants to overexploit lithium sands in the north.
Geomet, 51 percent owned by ČEZ and 49 percent by the Australian firm European Metal Holding, has nevertheless started preparations for mining at Cínovec over the years and has begun discussing it with the surrounding municipalities, where a processing plant was also to be built on the Dukla brownfield.
However, even after protests by the inhabitants of the villages, who feared significant negative impacts of mining on their lives, the plant is likely to be built on ČEZ land next to the Prunéřov power plant, fifty kilometres away, where one coal block is shut down and where the rock would be transported by rail.
However, a year ago, before the proposal to change the location of the plant, Geomet bought the Dukla land worth almost CZK 1 billion with the intention of building a processing plant on it.
"Dukla was a good option for us because it is an industrial zone close to the mine. Therefore, we prepared all the documents for the permitting process for the concept of building a plant at Dukla. For this purpose, it was necessary to secure the land in time, which is a common procedure," says Roman Gazdík, spokesman for ČEZ.
When asked by Forbes whether the investment will now be wasted, he replies that Geomet, with one exception, did not buy the land, but contractually secured it with an option and paid a reservation fee.
"The price for the reservation corresponded to the usual price for such a large industrial zone. We are still counting on Dukla as a station for transporting materials to the plant in Prunéřov, so we will use the land," he concludes.
Sign In
Follow the stocks
