Mining company Vulcan Energy Resources has secured €2.2 billion in financing for the first phase of the Lionheart lithium project in Germany.
Financing will be provided by European and German government agencies, the European Investment Bank, five export credit agencies and seven commercial banks, according to a report from the Australian-listed company.
Financing will come in the form of loans, government grants, as well as through an additional issue of shares in the amount of 603 million euros.
The Lionheart project is expected to be the largest in Europe. It will be located in the Rhine Valley in Germany and aims to produce about 24 thousand tons of lithium hydroxide per year - enough to produce about 500 thousand batteries for electric vehicles. The project also provides for the creation of the necessary
