Cinovec declared strategic by Czech government
ASX- and Aim-listed European Metals Holdings said on Friday that its Cinovec mineral deposit had been declared a “strategic deposit” under the Czech Construction Code.
This designation was a significant step forward for the Cinovec project, as it would expedite and simplify the permitting process, facilitating a faster timeline for development. As a result, Cinovec would now receive priority in obtaining permits and official approvals, reducing the time required for project preparation and mining initiation.
The status also streamlined coordination between authorities, eliminating bureaucratic hurdles and minimizing duplication of assessments. This was in line with the EU's Critical Raw Materials Act, which aims to ensure more efficient permitting for strategically important projects.
Further, the designation provides priority treatment for the environmental impact assessment process, potentially accelerating deadlines and reducing delays caused by administrative procedures. The project may also benefit from special legislative procedures typically applied to key infrastructure projects, minimising the likelihood of delays from opposing institutions or civil organisations.
"This designation will enable the project timeline to be expedited and provides a clear signal of the importance of the development of Cinovec by the Czech government for both the European car industry, as well as the EU green transition," said European Metals chairperson Keith Coughlan.
Cinovec hosts the largest lithium resource in Europe, and one of the largest undeveloped tin resources in the world.
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