Lithium, which is important for the energy transition, is to be mined in the Upper Rhine Graben in Germany in future. The Australian company Vulcan Energy has concluded a comprehensive financing package for this purpose.
The Australian lithium producer Vulcan Energy has secured a financing package worth 2.2 billion euros for lithium production in Germany. A good half of the sum is made up of loans from commercial banks and the European Investment Bank (EIB), as the company announced today. The federal government and the states of Hesse and Rhineland-Palatinate are supporting the project with a total of around 350 million euros.
Industrial partners have also joined in. The construction group Hochtief is participating in the start-up and is taking over the construction of the plants in Landau and Frankfurt-Höchst together with a specialist in mineral extraction. The plans are "a strategic project with a major impact that fits in with our Group's global capabilities in the field of energy infrastructure", said Hochtief CEO Juan Santamaria.
The Essen-based group is investing a total of 169 million euros in Vulcan Energy. Vulcan shares will be purchased for up to 130 million euros, 39 million euros will go towards lithium production.
https://www.tagesschau.de/wirtschaft/energie/vulcan-energy-lithium-deutschland-100.html
