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Lithium miner Vulcan gets five more exploration licences in Germany

Mark White by Mark White
January 4, 2022
in Supply Chain
0


An employee of Vulcan Energy Resources works on a laboratory sample of lithium chloride in Eggenstein near Karlsruhe, Germany, April 23, 2021. REUTERS/Ralph Orlowski

FRANKFURT, Jan 4 (Reuters) – Lithium developer Vulcan Energy Resources (VUL.AX), which has supply deals with carmakers Volkswagen (VOWG_p.DE), Stellantis (STLA.MI) and Renault (RENA.PA), has received five new exploration licences for geothermal energy and lithium in Germany.

The licences in the Upper Rhine Valley cover 325 square kilometres and increase Vulcan’s granted licence area to more than 1,000 square kilometres.

The German-Australian company aims to start commercial production of lithium by 2024 and is banking on a surge in demand for the raw material that is used in batteries for electric vehicles.

“Our core mission is to build shareholder value and have a materially decarbonising effect on the lithium supply chain for battery electric vehicles, and in energy production in Europe,” said Horst Kreuter, managing director of Vulcan Energie Ressourcen Germany.

Geothermal lithium from the Upper Rhine Valley along the French-German border has also attracted interest from other companies. read more

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Reporting by Christoph Steitz
Editing by Mark Potter

Our Standards: The Thomson Reuters Trust Principles.



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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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