Business
Saxon Govt Deems Project of Outstanding Importance
Saxon Govt Deems Project of Outstanding Importance.
About this update from Zinnwald Lithium Plc
[{"type":"text","content":"\n\nZinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector: Mining\n2 April 2025\nZinnwald Lithium plc\n('Zinnwald Lithium' or the 'Company')\n \nZinnwald Lithium Recognised as \"a Project of Outstanding Importance\" by Saxon State Government\n \nZinnwald Lithium plc, the European focused lithium company developing the integrated Zinnwald Lithium Project (the 'Project') in Germany, is pleased to announce that the Saxon State Government has reaffirmed its strong support for the Project, emphasising its strategic significance in securing a sustainable and independent lithium supply for the Free State of Saxony, the Federal Republic of Germany, and Europe as a whole.\n \nZinnwald Lithium recently published a Pre-Feasibility Study for the Project that showed a pre-tax NPV of €3.3 billion and IRR of 23.8% on a phased project initially producing 18,000 tonnes per annum of lithium hydroxide scaling up to a peak production of 35,100 tonnes with a mine life in excess of 40 years. This confirms the Project's economic viability and paves the way for further project planning and development.\n \nIn a press release published today by the Saxon State Chancellery, Saxony's Economics Minister, Dirk Panter, reiterated the government's commitment to the Project, stating:\n \n\"Especially in light of increasing international tensions, reducing raw material dependence is crucial for Saxony, Germany, and the EU. The Zinnwald Lithium project plays an outstanding role in this effort. Ensuring an independent and sustainable supply of critical raw materials like lithium is vital for Saxony's competitiveness as an industrial hub and for the transformation of the mobility and energy sectors.\"\n \nMinister Panter also emphasised the importance of international investment in large-scale projects such as Zinnwald Lithium and welcomed the Company's successful demonstration of the Project's economic feasibility, which highlights the attractiveness and economic significance of raw material extraction in Saxony and Germany.\n \nThe Minister further confirmed that the Saxon government will actively support the Project and has designated it a high priority. This commitment is formally acknowledged in the coalition agreement between the CDU and SPD in the Free State of Saxony. Additionally, the Saxon State Government re...