Name of the Project
Zero Carbon lithium project.

Location
In the Upper Rhine Valley, in Germany.

Project Owner/s
Vulcan Energy.

Project Description
A scoping study has demonstrated the project’s potential for a combined operation producing lithium hydroxide and renewable energy, with a net zero carbon footprint.

The study is based on a mineral resource estimate comprising a combined indicated and inferred mineral resource of 13.95-million tonnes of contained lithium.

A two-stage expansion plan is envisaged.

Stage 1 will involve the construction and operation of a direct lithium extraction and lithium hydroxide plant at an operating and producing geothermal well and power plant.

Stage 2 entails the drilling of ten new thermal production wells and the construction of new, combined geothermal, direct lithium extraction and lithium hydroxide plants at Vulcan’s 100%-owned Ortenau licence.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Not stated.

Planned Start/End Date
Not stated.

Latest Developments
Vulcan Energy has completed a A$120-million institutional placement to accelerate the development of its Zero Carbon lithium project.

“Proceeds from the placement provide us with a runway to final investment decision and enable Vulcan to accelerate project development, including targeted delivery of a definitive feasibility study by the second quarter of 2022,” Vulcan MD Dr Francis Wedin has said.

The placement comprises more than 18.46-million shares, at A$6.50 each, representing a 17.1% discount to the company’s last closing price on February 1 and a 17.8% discount to its five-day volume weighted average share price.

The shares were placed under the company’s existing placement capacity, and the Gina Rinehart-led Hancock Prospecting emerged as a cornerstone investor in the placement.

Key Contracts, Suppliers and Consultants
Not stated.

Contact Details for Project Information
Vulcan Energy, tel +61 8 6559 1792 or email info@v-er.com.