https://www.miningweekly.com
Automotive|Building|Construction|Energy|Mining|PROJECT
Automotive|Building|Construction|Energy|Mining|PROJECT
automotive|building|construction|energy|mining|project

European Lithium signs MoU for Saudi Arabia plant

13th January 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed European Lithium has signed a non-binding memorandum of understanding (MoU) with Saudi Arabian major Obeikan Investment Group to build and operate a hydroxide plant in Saudi Arabia for the Wolfsberg lithium project, in Austria.

Under the MoU, the two companies will work together to negotiate commercial terms for the construction and operation of a hydroxide plant in Saudi Arabia.

“The joint venture (JV) with Obeikan will allow European Lithium to focus its efforts on building the facilities to start mining concentrate in addition to benefiting from the JV opportunities. The huge energy cost savings will make Wolfsberg even more robust,” said chairperson Tony Sage on Friday.

A 2018 prefeasibility study estimated that the Wolfsberg project could produce 10 129 t/y of lithium hydroxide over a mine life of more than ten years, based on a mining rate of 720 000 t/y. European Lithium is targeting the start of lithium hydroxide production by the first quarter of 2025, subject to funding and approvals.

The company recently signed an offtake agreement with automotive manufacturer BMW for the supply of battery-grade lithium hydroxide from its Wolfsburg project, with BMW to make a $15-million advance payment which would be repaid through lithium delivery.

Edited by Creamer Media Reporter

Comments

Showroom

Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)
SAIMC (Society for Automation, Instrumentation, Mechatronics and Control)

Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.155 0.197s - 91pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: