Lithium producer Vulcan secures second production licence for Lionheart project
Australia- and Frankfurt-listed Vulcan Energy has secured a second lithium production licence, valid for six years, for its flagship Lionheart project, in Germany, which is under construction.
The new Ilka licence follows Vulcan's earlier lithium production licence grant in relation to the area known as LiThermEx. The new licence is the second of its kind to be granted in the Upper Rhine Valley Brine Field and in the German state of Rhineland-Palatinate.
Lionheart's first phase of commercial lithium production involves the construction of an integrated lithium and geothermal energy project targeting production of 24 000 t/y of lithium hydroxide monohydrate, which is enough to supply about 500 000 electric vehicles every year. The energy side of the project will produce 275 GWh of renewable power and 560 GWh of heat every year for local consumers over the project's estimated 30-year lifetime.
Once the Ilka production licence expires in September 2032, Vulcan will look to combine the two lithium production licences into one.
"Securing our second lithium production licence is another important achievement for Lionheart and further validates the progress we are making towards becoming Europe’s leading producer of strategic, low-cost lithium.
"We thank the Mining Authority in the State of Rhineland-Palatinate for their ongoing collaboration during this process. Lionheart's construction remains on track, and we look forward to providing our shareholders with further updates as we progress to targeted first production in 2028," says Vulcan MD and CEO Cris Moreno.
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