PERTH (miningweekly.com) – ASX-listed Vulcan Energy Resources has struck a collaboration agreement with Italian geothermal energy producer Enel Green Power to develop its Italian project and explore future opportunities for cooperation.
Under the terms of the agreement, the two companies will explore and develop Vulcan’s Cesano licence through a joint scoping study, and would evaluate cooperation opportunities on other geothermal lithium projects in Italy.
The companies would assess the potential of the Cesano licence in a step-wide approach, starting with a scoping study, with Enel already having previously explored and drilled a number of wells in the area, and gathered relevant data from local reservoirs.
The Cesano licence will become co-owned by Vulcan and Enel.
“Vulcan is aiming to increase the future supply of our sustainable lithium product in response to significant customer demand, as we leverage our extensive experience in lithium extraction from heated brines to have a materially decarbonising effect on global electric vehicle supply chains,” said Vulcan MD Dr Francis Wedin.
“By growing and diversifying our project development portfolio, we ultimately aim to develop a globally significant Zero Carbon Lithium business focused on Europe, for Europe.”