European Lithium Ltd, West Leederville, Australia, (ASX:EUR) (FRA:PF8) (VIE:ELI) (NEX:EUR) has made strong progress with plans to be the first local supplier of lithium into an integrated European battery supply chain through a key partnership with global EV technology metals supplier Talaxis Limited, a wholly-owned subsidiary of Noble Group Holdings Limited, Hong Kong.
The signing of a strategic engagement agreement sees the parties forge a partnership which will provide many advantages for European Lithium, including completing a definitive feasibility study (DFS) for the Wolfsberg Lithium Project in Austria. The Wolfsberg lithium project is an underground mine situated approximately 270km from Vienna, Austria. The project is being developed by European Lithium and is estimated to produce 10,000t of lithium hydroxide (LiOH) a year.
Strategic advisor appointment
It will also see European Lithium’s board strengthened through the appointment of Talaxis managing director Daniel Mamdou-Blanco, a highly experienced mining and finance executive, as a strategic advisor. Mamdou-Blanco, who has more than 20 years of expertise in the financial services and resource sectors in Asia, has held senior executive positions with Deutsche Bank, Goldman Sachs and Nomura International.
“Huge coup for European Lithium”
European Lithium non-executive chairman Tony Sage said: “Given the unprecedented times we live in it is a huge coup for EUR to have secured the engagement with Talaxis and above all the vast knowledge and experience of Daniel. The appointment will expedite the DFS for the company’s Wolfsburg’s Lithium Project as the world starts to move out of the pandemic and into an EV future, especially in Europe.”
European Lithium will benefit from the services that Talaxis will provide, including managing and establishing commercial relationships, contract negotiations and strategic market research. Talaxis, a wholly-owned subsidiary of Noble Group Holdings, invests and develops projects related to nickel, cobalt, lithium, rare earths and other metals and materials that are key to the energy transition. It prioritises ventures that contribute to the decarbonization of the economy and that are aligned with the United Nations Sustainable Development Goals.
Wolfsberg “uniquely placed”
Mamadou-Blanco, who is also Noble Holdings managing director and global head of Technology Metals and Materials, said: “We are pleased to have secured a long-term strategic engagement with European Lithium. Having followed the Wolfsberg Lithium Project for a number of years, we believe the asset is uniquely placed to drive growth in the European battery industry given its strategic location, metallurgically friendly lithium ore and expected production timeline. Despite a challenging macro-economic environment in light of COVID-19, we believe the industry’s long-term fundamentals remain resilient as the transition towards electric vehicles and renewable energy continues to accelerate. We are proud to be partnering with European Lithium to support the energy transition and drive long-term growth.”
See company’s press release HERE