Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
There's certainly support from the government. Local mayor's are indifferent according to latest reports providing there is a strong community benefit.
Also, while news has been slow I've been looking at LinkedIn again. There's a fair few Portuguese geologists who post regularly and it gives insight to the wider Portuguese lithium opportunity. What's interested me the most is that the likes of EIT Raw Materials are providing training to university students. There's then a growing number of graduates calling for new green mines which would open the door for them into sustainable jobs. Something I'd not thought of previously but it certainly seems to me that Portugal are upskilling the new generation in preparation for what's to come.
LiRef has been updated end date is Dec 2022 so will be interested to see if we get any news/updates on the test results. (Note the member list)
https://eitrawmaterials.eu/project/liref/?s=09
"The proposed project shall validate the technological, economic, legal and social viability of a novel electrochemical process, using hydro-electric power, to directly convert spodumene concentrate into high purity lithium hydroxide. Spodumene concentrate will be sourced primarily from European producers, thereby fostering the development of a sustainable European value chain. This project’s plans also include setting up a European refinery which will become operational from 2023."
The European refinery could be Keliber's who have announced construction has started;
https://www.miningweekly.com/article/sibanye-starts-building-359m-lithium-hydroxide-refinery-in-finland-2022-11-28
We also have Aurora refinery in Portugal pending a response to their preliminary EIA Q1 2023.
For anyone who missed it, look back to my post on Metso Outotec, in a nutshell they're a common denominator amongst Tesla offtakes.
Previous didn't work, try this
https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/13597-European-Critical-Raw-Materials-Act/feedback_en?p_id=31524670
For info you can view all responses here;
https://ec.europa.eu/info/law/better-regulation/
Had a scan this morning, VW, Northvolt, DGEG and a handful of Portuguese organisations have commented in favour. Our usual suspects from the Portuguese anti mining community have responded too.
"He is the Chairman of Floene Energias, the leading Gas DSO in Portugal"
To expand, GALP are a shareholder of Floene. The name change came about recently from Allianz Capital taking a majority holding.
"Floene Energias, S.A. ("Floene") informs that, on October 6th, a Shareholders Unanimous Written Resolution was approved, changing Galp Gás Natural Distribuição, S.A.'s corporate name to Floene Energias, S.A."
https://industrialnews.co.uk/floene-largest-gas-distribution-operator-in-portugal/
Encouraging to see a high profile signing with links to GALP through their current role as Chair. GALP link of course then follows the chain > Aurora > Northvolt > VW
CM, there's also AUD$3.5m and 1% NSR due from Critical Resources (Force) who bought Oman.
I'm believe SAV flipped the shares in that deal fairly quickly and returned a further AUD$500k.
Small numbers in the grand scheme of things but staves off any raise for running costs for a while longer.
I very much doubt that Ali. The issue isn't unique to SAV which can be evidenced by other EIA's in the area which have also stalled.
Portuguese Government are actively looking to address the issue with legal reform;
"we seek to promote the elimination of licenses, authorizations, acts and redundant procedures in environmental matters, ensuring, however, that their elimination does not prejudice compliance with environmental protection rules, with the Public Administration having a special focus on supervision, co-responsibility and self-control by economic operators"
The consultation phase of the proposed reform closed at the end of September so I'd expect some follow up to that over the next half. I've seen reports that some of the changes effectively nullify municipalities powers to reject applications where the project itself is on national interest. The Minister for Environment has also stated on public record he's waiting for SAV and Lusorecursos to progress which will kick start the lithium tender/auction.
Fingers, still procrastinating???
VW set up Power Co. then a JV with Umicore who have offtake with Ganfeng. VW are also a 20%+ shareholder of Northvolt who have offtake with Tianqi, they're literally building out their supply chain from the top down so I'd say they're doing okay finding partners.
Perhaps now people are wising up to the EIA issue you might want to hear me out on the point I've made previously, the EU strategy is to prioritise ex-EU supply, simple as that. Surely when you see the biggest European automaker going the China route and Von DER Leyen talking about Canada and Australia supply partnerships you can see this is the case? Permitting is a huge issue and they know they won't get EU supply online quick enough.
Unfortunately in Europe there's too much red tape so you need to pay attention to the politics.
Excellent news IB, Volkswagen Autoeuropa is based just up the road in Palmela and Aurora Lithium have their application in for a site in Setubal. Refinery, battery maker and auto maker all located within 30/40km. Added to that direct port access to global trade and rail links from VW's site to their Spanish facilities.
Portuguese Government having direct involvement with CALB is a very strong signal imo.
MdB is in Boticas and has a different mayor so SAV should be clear.
Montalegre is the adjacent N/E municipality. Orlando Alves was pro-mining and I'm sure there's photos of him at events recently with Lusorecursos management. Luso had 3/4 attempts at putting together an EIA so will be curious to see if Alves played a part.
John Meyer comments on Jay appear to align with your thoughts
https://audioboom.com/posts/8183807-john-meyer-discusses-atlantic-lithium-bluejay-bushveld-rambler-power-metals
Czech Republic link to EIA law;
https://www.mzp.cz/en/environmental_impact_assessment
German link to EIA law;
https://www.bmuv.de/en/topics/education-participation/participation/environmental-assessments-eia-sea
The EIA documents for Cinovec are supplied in Czech. These obviously need to be translated to German for the purpose of public participation which adds a layer of complexity in translating technical documents.
All Cinovec documents issued to date are available here. Download the 'Text of the notice of intent' to extract the initial submission with maps etc.
https://portal.cenia.cz/eiasea/detail/EIA_MZP506?lang=cs
I would also recommend keeping tabs on UNECE meetings as that will identify if Cinovec is flagged at any stage. Once a project is notified to UNECE the process takes a long time partly due to the fact meetings are held quartely. The extension of Dukovany nuclear power plant in Czechia is one current example (Ref Czechia (EIA/IC/CI/10)) see below link which shows the process began in May 22 and a draft response will be prepared for April 23!
https://unece.org/sites/default/files/2022-10/ece_mp.eia_ic_2022_7_advance_edited.pdf
Colin, some of us are just solo PI's sharing knowledge/experience. If people engage with meaningful discussion and challenge my views that's welcomed. I'm not one for echo chambers of positivity however as that helps no one imo.
"Luthardt Investment will advise the Company as well as the project company, Geomet, on EU and national government-level relations, with the aim of promoting official support of the Cinovec Project."
Isn't that what the European Battery Alliance, European Investment Bank, EIT Innoenergy are for? KC said previously he has weekly calls with them so why now does he need to pay privately?
Mick88, you're absolutely correct.
Cinovec, given it's proximity to Germany, is legally bound under European Directive 2011/92/EU Article 7 to undergo a process of trans-boundary consultation known as the Espoo Convention.
That process according to the Czech environment agency website has not started!
I've said before, do not trust KC until he comes clean on the EIA as that will be needed for a conclusive DFS. At present EMH have only submitted a single option to the Czech authority so any requested changes will require re-design.
Others e.g. SAV and Lusorecursos submitted 2/3 different mine plans/options each of which has it's own environmental pros/cons. Even with that approach the Aarhus Convention and Espoo Convention draws risk, in SAV case a number of legal challenges from the public/NGO's.
Fortescue made several applications for exploration in Portugal back in 2016/17 I believe. They didn't secure anything but the most viable of those sites are now included in the proposed lithium tender.
There's also a growing exploration team based in Porto which has been expanding since March this year. LinkedIn is a good source of information for those interested and it's encouraging to see Geo's posting some rather nice photos of Spodumene. Guarda in North Portugal in particular seems to be of interest and conveniently located between MdB and Caceres (Infinity).
Essentially, Fortescue need MdB to be approved as that will unlock the Portuguese lithium tender. I'd guess they will then come forward as a likely candidate to purchase SAV.
Perhaps a translation error? Below refers to potential interest rather than a defined project of interest.
"Projects are analyzed to determine whether they are of Potential National Interest (PIN), a prerequisite for benefiting from streamlined procedures and thus shorter implementation periods."
Underground mine yes, but still requires 140,000m2 of deforestation and cut and fill into the landscape to create surface for plant and facilities.
The closest EIA application area I can find is 3km away, took 18 months from submission to decision. On an even keel, assuming EIA submitted Q4 2022 that puts permitting to 2024, construction/commissioning 2025 and production 2026.
Discuss or deflect...
Daveri007, my comments aimed at those making statements about corruption or manipulation when there are perfectly logical explanations for the down-side risk.
I'm also invested but I disagree with the idea Cinovec is very close to being de-risked. The core of my research is EU politics, licensing etc. and I can say with confidence that Cinovec has a long way to go. Take a look at the document I shared in previous post, once all of the requested work is done it needs to be put out for public consultation in both Czech and Germany which invites significant risk. Look at SAV for example where public participation resulted in 2 court cases and a non-compliance claim to UNECE, absolute nightmare and the process has exceeded 2 years delaying DFS progress!
Keith needs to come clean on EIA status and provide more than a token statement in RNS "the foundation has been set to finalise our studies".
Why use the C word? There's a few key issues in my opinion which are logically weighing this down,
1. Europe's raw materials strategy is to target non-EU sources as a priority.
2. European law is prohibitive to development and whilst there seems to be a willingness to push the battery agenda EU don't yet have their ducks lined up
3. EMH is still speculative given the extent of work required to achieve permitting.
Look past the headlines, spot prices etc. that's irrelevant. Value here will be earned in solid fundamental progress which de-risks the asset imo.
Disappointed to see no mention of EIA progress in recent RNS. Below are a handful of comments from the translated 'Conclusion of investigative proceedings' and a link to the source document. A full EIA has yet to be submitted and European Law means we still have public consultations and transboundary assessments to get through which all add time to the process and could have impact on DFS. I personally believe these risks may be a contributing factor in tempering the SP rather than a concerted effort to drive price down. Permitting in Europe is difficult so unless we have radical reform this is a long term play. Fingers crossed EMH is named a project of common European interest.
"The area of the proposed Cínovec mining area will be 400 ha, of which the necessary area for deforestation is 143,545 m2."
"The plan may have a significant impact on specially protected bird species because part of the area intended for the construction of the surface plant is located in the territory of the sites of the Natura 2000 system (Bird Area of the Eastern Ore Mountains). The plan may also have an impact on a site of European importance"
"operation of the project may have an impact on the water regime in the wider area, especially in the case of an impact on the natural healing resources of the spa town of Teplice in Bohemia."
"there is a serious risk that the aforementioned Cínovec mining area will directly or indirectly damage or seriously threaten the defined UNESCO estate"
Link: https://we.tl/t-lrgICu7LB4