Australia

Core Lithium sees opportunity in EUs giant US$572 billion green stimulus plan

Core Lithium Ltd (ASX:CXO) has welcomed the EUs most ambitious climate change plan to date to pour more than 500 billion euros (US$572 billion) into everything from electric cars to renewable energy and agriculture.

This is part of an unprecedented economic rescue plan and seven-year budget for the region worth 1.8 trillion euros (US$2 trillion) announced after a marathon five-day summit of the heads of governments in Brussels.

Core part of EU's sustainable battery industry


It is worth noting that Core Lithium was recently accepted as a member of the European Battery Alliance (EBA250), an organisation committed to driving a competitive and sustainable battery industry in Europe by 2025.

Cores acceptance into the EBA250 follows the companys recent signing of a nonbinding offtake term sheet (MOU) with Geneva-based Transamine Trading for the supply of 50,000 tonnes of lithium-rich spodumene concentrate a year for five years from its Finniss Lithium Project in the Northern Territory.

This MOU is in addition to Cores existing binding offtake agreement with Yahua for 75,000 tonnes per annum.

Combating climate change


Almost a third of the US$2 trillion European economic rescue plan is earmarked for climate action, offering the blocs 27 nations a chance to develop clean energy resources, stimulate the market for emissions-free cars, invest in budding technologies, and promote energy efficiRead More – Source