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Https://www.echoprime.cz/a/HvG7A/z-2000-miliard-nasich-penez-za-lithium-je-zajimavy-prijem-rozpoctu-co-dalsi-velke-projekty

It's like this behind the paywall:

Currently, the Minister of Industry and Trade Karel Havlíček (ANO) is speaking much more cautiously and says that even when taking into account various risk factors, mining is still "financially interesting". According to him, this is an amount that will be significant for ČEZ as an investor, which will then subsequently be "interesting" for the state budget. We are already at the stage where state support for this mining at the level of a strategic investment is being negotiated. "The conclusion, the definitive form of processing, is currently being discussed," Havlíček told Echo24. It is not clear whether it will ultimately be 2,000 billion, or even more, considering the development of the price of money. "It is already clear that it will be in Prunéřov, the logistics of mining and so on have also been pre-negotiated. Everything depends on the final economic perspective. This means that many scenarios are being prepared in relation to the development of the price of lithium on world markets, to strengthening the security and resilience of the Czech Republic. Even when taking into account various risk factors, it is still financially interesting," said Havlíček. In response to whether it will be hundreds of billions or even the announced trillions, Havlíček said that it is necessary to look at the mining life cycle, which is estimated to be 20 to 25 years. "This is already an amount that would be very significant for ČEZ as an investor. That would then also flow into the state budget. It is a volume that will be interesting for the state budget," the minister continued. The feasibility study confirmed that 3.2 million tons of ore can be mined at Cínovec per year, from which approximately 37,000 tons of battery-quality lithium carbonate will be produced for up to 1.3 million electric vehicles. The complex permitting process, including an environmental impact assessment (EIA), is now underway. Land acquisitions for the processing plant have already taken place in the Ore Mountains region and the Ústí nad Labem region has amended the zoning plan. The lithium park project includes deep mining of ore, the aforementioned transport to the processing plant in Prunéřov, a research center and the production of final lithium products, and is a key opportunity for the transformation of the coal region and the creation of new jobs. According to realistic scenarios, mining itself could begin at the end of this decade at the earliest, but more likely after 2030, according to the Just Transition Operational Program. In addition to lithium mining, major projects include the so-called AI gigafactory.

The mayor's words in the local press:

Again after a month, I will return to the topic of lithium mining and processing, because the Ústí nad Labem Regional Council has tabled the discussion of the 6th update of the Ústí nad Labem Regional Council's Territorial Development Principles, which define corridors for lithium mining, transport and processing. Despite a long discussion that the councilors should postpone the discussion until the Ústí nad Labem Regional Council negotiates better conditions from its position, the 6th update of the Ústí nad Labem Regional Council's Territorial Development Principles was approved. A few days later, the Minister of Industry and Trade Karel Havlíček stated that the state is not currently preparing special compensation for the region for lithium mining, and later also announced that the Czech Republic will negotiate with the Koreans about possible cooperation in lithium mining at Cínovec. This would mean that the state will lose another part of its current share in such a possible "strategic" mining. However, nothing has been decided yet. We are about to publish the conclusions of the Environmental Impact Assessment (EIA), which the city of Dubí will actively comment on. Associations and citizens can also participate in the commenting process, so take advantage of this unique opportunity to influence the entire process! The lives of residents and the environment must always take priority!

Here I found the lecture Fairy tale or illusion about Czech lithium? Lecturer Ing. František Pticen, technologist of the Czech Geological Survey.

https://www.mineralog.cz/prednasky-besedy/

The video recording for Czech speakers is here:

https://www.youtube.com/watch?v=5ix7eXMJfiM

Video content in brief:

Advantages of lithium mining and processing

A large deposit in Europe

Cínovec is among the largest known sources of lithium in the EU.

A strategic raw material

lithium is key for batteries, electric vehicles and energy.

Secondary minerals

tin, tungsten, fluorine and possibly other minerals can also be obtained during processing.

Possibility of domestic technology

Research into Czech processing procedures is underway (ČGS, DIAMO projects).

Disadvantages and risks

Complex processing chemistry

lithium is not in a simple mineral, but in mica → multiple processing steps.

Fluorine in ore

processing must deal with toxic fluorine, which increases technological demands.

Large volumes of rock

a lot of ore must be processed for a small amount of lithium.

Economic uncertainty

the project is sensitive to the world price of lithium.

Environmental issues

waste material, chemistry and energy required to process the ore.

Regarding the "problem" of price fluctuations, I would refer you to this article:

https://www.miningsee.eu/zinnwald-lithium-emerges-as-a-benchmark-for-state-backed-lithium-projects-in-europe/

In the last issue, I already addressed the issue of lithium mining and processing. There are two feasibility studies that differ in some data. One from Geomet and the other from European Metal Holdings, where one admits that mining is unprofitable without public support. The working group met with the governor of the Ústí nad Labem region, where new information was presented on the possible form of the project. The major impact on shallow subsurface waters in Cínovec was confirmed, when the levels in the wells could drop from 40 to 150 cm. In the case of mining, Geomet would therefore have to build a water supply system in Cínovec to which it would connect all properties. Another important piece of information is a new alternative to the belt conveyor in the form of a long tunnel that would end at Střelná. This alternative would solve the problem of disturbing the landscape, disturbing the internal spa area and threatening the spa status, it would be used for technical water and electricity lines without having to dig in the forests or in the city, it would help with the connection to the Dubá railway station and the construction of a sand-filling station near Mstišov and the need to reroute the popular tourist route between Mstišov and Střelná would be eliminated. A cable car would then run directly from the mouth of the long tunnel to the Dukla transshipment point. An important point is transport, because we refuse to allow 50 trucks over 12 tons to pass through the city during construction and 30 trucks over 12 tons per day during operation. It is necessary to realize that each car will pass through the city twice, which is why our demand is for maximum restriction of traffic through the city and the use of the Moldavian Mountain Railway. At the working group, I pointed out significant discrepancies between the two studies and problematic points for the city that need to be addressed in the event of mining. At the same time, I perceive that possible compensations of around 30 million crowns per year do not represent any significant benefit for the city of Dubí if there are negative impacts and at the same time it is a strategic project for the Czech Republic and the European Union. If mining should actually take place in the future, it is important that the city has compensations from mining of at least 100 million crowns per year, as was originally proclaimed years ago, because the current compensations represent a ridiculous pittance.

Your Mayor, Ing. Jiří Kašpar, LL.M.

I'm just adding that it will still be a struggle :-)

The city of Krupka seems to be satisfied.

https://www.krupka-mesto.cz/pracovni-skupina-lithium/d-20052

11th Meeting of the Ústí nad Labem Regional Council 9.2.2026

Article 12.10. is missing from the official program.

https://www.kr-ustecky.cz/file/3085981

But in the materials here, Article 12.10. is there, we will see if it gets on the agenda.

https://formulare.kr-ustecky.cz/materialyzukver/11_ZUK_2026-02-09/11_ZUK_2026-02-09.html

https://formulare.kr-ustecky.cz/materialyzukver/11_ZUK_2026-02-09/pdf/11_ZUK_MAT_12_10.pdf

3. Processing and valorization of critical raw materials

o Strategic support for the Cínovec (Li) and Chvaletice (Mn) projects with the aim of building a full value chain from mining to battery cell production (MIT, by 2030)

Economic Strategy Czech Republic: Country for the Future 2.0

We have critical metals at home, but we do not know how to use them effectively

The Czech Republic has reserves of lithium, tungsten, tin, copper, zinc, manganese and uranium. Projects such as lithium mining in Cínovec or manganese re-mining in Chvaletice demonstrate the potential to become a supplier for European industry. However, in reality, we are hindered by lengthy permitting processes and a lack of processing capacity. If we fail to build a domestic processing chain, we will remain only a supplier of raw concentrate with low added value.

Vision

The Czech Republic will ensure stable, self-sufficient and sustainable access to raw materials for industry, construction and energy. The basis will once again be the use of domestic resources. We will strengthen modern recycling and processing capacities, higher valuation of renewable raw materials (especially wood) and ensure faster and predictable permitting processes.

Objectives

Increase material productivity by 30% by 2035 (from the current 2.7 to ~3.5 PPS/kg)

Ensure the availability of construction raw materials: create the prerequisites for opening at least 10 new aggregate/gravel sand deposits and achieve a share of 20% of recycled aggregate and gravel sand in the total need in 2030

Build domestic processing capacities: at least two new plants for processing critical metals (e.g. Li, Mn, W, Zn, Cu,) by 2030

Double the share of wooden buildings: from the current ~15% to 30% in new family houses by 2040

Priority measures for achieving the objectives

1. Efficient use of domestic resources

o Acceleration of permitting processes – maximum deadlines of 3 years for mining and recycling projects, simplification of EIA and spatial planning (Ministry of Industry, Czech Institute of Mining, Ministry of the Environment, Ministry of the Regions, to 2029)

o Amendment of the Mining and Geological Act: e.g. update the list of critical minerals of the Czech Republic and the possibility of a decision by the Mining Office in the public interest (Ministry of Industry, Czech Republic, by 2028)

o Support for the complete extraction of existing deposits, obtaining critical and other raw materials from mining waste, use of dumps, dumps and other mining areas for secondary use (FVE, PVE) (Ministry of Industry + Ministry of the Environment + Czech Republic by 2028)

2. Development of recycling and circular economy

o Introduction of mandatory shares of recycled building materials in public procurement – ​​min. 20% by 2030 (MMR, MIT)

o Building a regional network of recycling centers for construction waste and secondary metals (MŽP, by 2029)

o Introducing a digital passport for construction materials and products for tracking and reuse (MIT, by 2028)

3. Processing and valorization of critical raw materials

o Strategic support for the Cínovec (Li) and Chvaletice (Mn) projects with the aim of building a full value chain from

i am a big optimist on this event, as you probably know. but i will try to give my opinion on the takeovers. the production of lithium battery product will likely be very individual. the takeover will be focused on securing a commercial takeover partner for this product, rather than on the production of a base concentrate. this is mainly due to the lack of ****geneity in high purity lithium products (various levels of contaminants, etc.) and the requirement for product qualification by specific customers. the result is that any takeover agreements entered into too long before final production are necessarily contingent to some extent and therefore do not provide material support for traditional debt financing of the project. for this reason, i believe that the takeover will be "free" for as long as possible in order to maximize the value of this strategic aspect of the project. the goal is to find a takeover partner who will commit to either a meaningful upfront payment for the takeover and/or a meaningful investment in the company that they must maintain until production!

For me, a similar story could be Euro Manganese, they also do business in the Czech Republic.

I'm just reminding you.

6.2. Long-term outlook for lithium prices

Long-term price forecasts are monitored by leading analysts, consultants and financial institutions. There is a consensus in the market on a significant increase in lithium prices from today's low level. There are several possible scenarios for how the lithium price will develop. However, all scenarios agree that the price of lithium will increase significantly in the future compared to current spot prices. It is assumed that the demand for lithium will increase significantly with the development of electric vehicles and battery storage. The final feasibility study therefore works with a lithium price range of 15,000 to 30,000 USD/t (310,000 to 620,000 CZK/t).

6.3. Internal Rate of Return (IRR)

The main financial indicator of the project is the internal rate of return (IRR). Since it is dependent on the lithium price, the feasibility study shows it for a lithium price range of 15,000 to 30,000 USD/t. The values ​​shown in Table 6 already take into account the subsidy support that the project received.

LCE Price [USD/t] 15,000 20,000 25,000 30,000

IRR 0.2% 8.9% 14.4% 18.9%

Table 6: Project IRR for lithium price range

The project's internal rate of return (IRR) varies between 0.2% and 18.9% depending on the lithium price considered.

I'm betting on Škoda Auto and Aero Vodochody from the Czech Republic.

I know you've seen it before, but especially for Skelly85, once again:

https://teplicky.denik.cz/zpravy_region/geomet-tezba-lithium-krusne-hory-20251215.html

The company Geomet will request an environmental impact assessment (EIA) of lithium mining in the Ore Mountains by the end of the year; it will submit the documentation necessary for the decision to the Ministry of the Environment. At the same time, a feasibility study will be completed by the end of this year. Ladislav Štěpánek, chairman of the board of directors of Geomet, said this at a meeting of regional representatives on Monday, December 15.

I told you so, blah blah blah...

I was right again, blah blah blah...

Skelly85, go short it and you'll make a lot of money if you're right.

I respect your opinion, but I'm starting to feel like you're a sick person, this is really not normal :-)

What do you want?

The news about the outgoing government's support for the processing plant made it to the main television news in the Czech Republic. The future Minister of Industry and Trade, Havlíček, even commented on it. He has no problem with it, on the contrary, he tried to emphasize that it is actually the merit of their previous government that ČEZ is invested in it.

In my opinion, the Czech government decided to support the processing plant due to minor environmental protests. But then the question arises whether there is any further support from the European Union for the mine, which logically should have priority. You can't process something that you can't extract. :-)

Regarding the EMH share price, I looked into my crystal ball and saw this: £1.63, then later £2.61 to £4.27 :-)

Of course, congratulations to all of us who are invested in this.

The outgoing cabinet has approved a state subsidy for GEOMET, which wants to build a processing plant in Prunéřov to produce battery-quality lithium carbonate for more than 25 billion crowns, creating 654 new jobs in a structurally disadvantaged region. Investment in lithium processing will increase the competitiveness of the Czech Republic and help reduce the European Union's dependence on critical raw materials. The government has approved a grant of 8.797 billion crowns for this project, which will be paid out over the years 2028 to 2030.

Https://ekonomickydenik.cz/kde-jsou-miliardove-zisky-z-lithia-a-manganu

When asked by Ekonomický deník, ČEZ spokesman Roman Gazdík said that the final feasibility study will be completed in December. So Skelly will join us at the end of the year?

In my opinion, as I read the sentence "in accordance with previous instructions", I think that ČEZ has the DFS on the table and now it must decide on the investment. And most importantly, publish its intention based on the submitted DFS.

Skelly85 , before you stone me here, this is just my opinion :-)

I have a modest tip that KC will issue an RNS with information that DFS will be delivered in a few weeks... :-)