European Lithium Executive Chairman Tony Sage: Developing the 1st Lithium Hydroxide Plant in Europe

Описание: European Lithium (ASX:EUR,FRA:PF8) Executive Chairman Tony Sage discussed the company’s Wolfsburg Project, located in Austria, a country with rich mining history dating back to WWII that maintains its infrastructure. Wolfsburg maintains that tradition, positioned only 45 kilometers from the city that hosts the largest Samsung battery factory.

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Sage notes, “It’s quite unique. In Europe, a lot of the lithium mines are at the exploration stage. This mine was built back in the ‘80s by the Austrian government. So all the work has been done, if we were going to do this project today, we would have to get environmental approval and spend about $100 million — but they did all the work and the license is in perpetuity.”

Sage continues to state, “We can now access that mine and start mining immediately. In fact, in 2017, we mined it and took out 1500 tons, which is a massive advantage in the lithium industry because we were able to build a pilot plant and put 300 tons of the material through the pilot plant, which gave us the results that we were looking for that it's high grade product.”

Regarding European Lithium’s goals, Sage states, “Our aim is to mine it. It's a very simple mining process. We're in the process now of trying to acquire land nearby so we can actually put a conversion plant and a hydroxide plant on it. There's not one hydroxide plant in Europe, so we hope to be the first. Not only would we be able to source material from our own mine, but we may be able to source material in nearby areas”

Sage mentions, “Sage notes that, “The Austrian government is very keen for us to build hydroxide plants so they can actually entice vehicle companies to build a factory nearby the hydroxide plant. This way, we can have a mine right through to the battery solution for the Austrian government. In the end, all we can do is get the mines up and operating, build the hydroxide plant and see what happens.”

The mine itself is underground, with Sage mentioning, “Underground mining techniques are used all around the world. When they built it, they actually overbuilt — so when we decided to mine back in 2017, it was quite easy for us to find the seam of the ore body and then take the ore out.”

“We completed a pre-feasibility study in 2018, the cost structure then was about US$7,500 per ton to produce the hydroxide. Right now,the hydroxide price is around US$69,000 a ton — that’s a massive profit margin that we don’t see as sustainable long-term. When we do our definitive feasibility study, we're probably going to use an average price over the life of mine of about US$25,000 — but that's still a huge profit margin. That feasibility study is coming within the next four months, when we’ll be in a good position to partner with someone”

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