European Metals submits Cinovec environmental impact assessment

(Sharecast News) - European Metals Holdings said on Tuesday that it has submitted the full environmental impact assessment for its Cinovec Lithium Project to the Czech Ministry of the Environment, marking a key regulatory milestone and satisfying an important condition of the EU Just Transition Fund grant.

The AIM-traded company said the EIA was formally lodged on 31 December, completing the two-stage environmental assessment process following submission of the screening-stage assessment earlier in the year.

It said the filing covered the entire Cinovec development and aligned with the recently-completed definitive feasibility study, which confirmed a mine life of more than 26 years and forecast annual production of around 37,500 tonnes of battery-grade lithium carbonate.

European Metals said the ministry would now begin its formal review of the EIA, with the documentation expected to be made publicly available for consultation later in the quarter.

The review process would include a period for public submissions and hearings, with timings to be determined by the Ministry.

It said the submission also fulfilled a key requirement attached to the Just Transition Fund grant awarded to the project.

In April, the Czech selection panel approved CZK 800m, equivalent to about $36m at the time, in grant funding.

Conditions of the award included submission of the full EIA by 31 December 2025 and approval by the ministry by 30 June 2026, a timetable the company said the project remain#ed on track to meet.

"Submitting the full EIA is an important step forward for Cinovec and follows the completion of the DFS, which confirmed the scale, longevity and strategic importance of the project," said executive chairman Keith Coughlan.

"Environmental approvals are critical to development in the Czech Republic, and meeting the EIA submission deadline was a key requirement under the Just Transition Fund."

At 1225 GMT, shares in European Metals Holdings were up 5% at 19.95p.

Reporting by Josh White for Sharecast.com.