European Metals Holdings Announces Relocation of Lithium Plant to Prunéřov, Aiming for Enhanced Project Economics

European Metals Holdings Limited has confirmed the selection of Prunéřov as the new site for its Cinovec Lithium Processing Plant. This strategic move, replacing the previous Dukla location, is expected to expedite the permitting process and improve project economics due to the site's favorable conditions.

The relocation to Prunéřov, the site of the former Prunéřov 1 Power Station which was decommissioned in 2020, offers significant advantages, including reduced capital expenditure and operational costs per tonne. This is anticipated due to the site's existing industrial zoning and larger area, which allows for a more efficient layout and construction process. Additionally, the site's proximity to existing infrastructure, like the 750MW Prunéřov 2 Coal fired power plant, further supports logistical efficiencies.

Prunéřov's selection came after a thorough feasibility study which identified it as a more suitable location over Dukla due to its capacity for expansion and stronger support from local and regional governments. The plant will process ore transported approximately 59 km by rail from the Cinovec mine to Prunéřov, utilizing existing railway facilities.

Keith Coughlan, Executive Chairman of European Metals, emphasized the positive impact of the move on the surrounding communities and the project's economics. He stated that the improved permitting timeline and effective plant layout at the new site are expected to enhance the project's overall viability.

The decision has also been well received by local officials, including Ladislav Št pánek, Chairman of the Board of Directors of Geomet, who noted the strategic fit of Prunéřov for the project given its industrial heritage and the opportunity it presents for regional economic transformation.

Jan Losenický, Mayor of Kada, expressed support for the initiative, highlighting the potential employment opportunities for local workers currently engaged in the declining coal industry. He appreciated the commitment to investing in training and retraining employees to transition to roles in the new lithium processing facility.