European Lithium Ltd (ASX:EUR, OTCQB:EULIF) welcomes news that the Carinthian state government has decreed that Critical Metals Corp (CRML) subsidiary ECM Lithium AT GmbH (ECM) does not require an environmental impact assessment (EIA) for the Wolfsberg Lithium Project on the Kolrape mountain range in Austria.
Step closer to production
The decree – that no EIA is required by law for underground mining where the surface area required by the above-ground facilities is less than 10 hectares – means the company is a step closer to realising the project and establishing a European battery supply chain for electromobility.
“This is an extraordinary achievement for Critical Metals Corp and our Wolfsberg project, as we chart a path forward for the production of critical minerals in Europe,” EUR chair Tony Sage said.
“This decree makes the Wolfsberg Project the first new mining project within the EU that is able to pave the way into the fast-track approval process for new mining projects in the critical minerals sector.
“This is a significant milestone towards sustainable production of lithium from Austrian mining extraction in an integrated European supply chain located in the heart of Europe.”
European Lithium holds 66,416,641 (74.30%) ordinary shares in Critical Metals.
Based on the closing share price of Critical Metals being US$6.81 per share as of November 29, the company’s current investment in Critical Metals is valued at US$452,297,325 (A$696,537,881). This valuation is subject to fluctuation in the share price of Critical Metals.
Through this significant interest, EUR is aligned with Critical Metals' vision to become a key supplier for the lithium-ion battery supply chain in Europe.
About Critical Metals Corp
CRML is a mining development company focused on critical metals essential for electrification and next-generation technologies.
Its flagship Wolfsberg Lithium Project in Carinthia, Austria, is the first fully permitted mine in Europe and is poised to supply key lithium products to the European market.
Strategically located with road and rail access, Wolfsberg is aligned with offtake and downstream partners, positioning it as a cornerstone in CRML’s critical metals portfolio.
CRML also holds a 20% interest in prospective Austrian mineral projects previously owned by European Lithium.
Strengthening its portfolio further, the company recently secured a 92.5% controlling interest in the Tanbreez Rare Earth Mine in Greenland, expanding its role in the global critical minerals supply chain.