Name of the Project
Wolfsberg lithium project.

Location
The mine and concentrator site are located about 20 km east of Wolfsberg, and the hydrometallurgical plant is located just to the south of Wolfsberg, in Austria.

Project Owner/s
European Lithium.

Project Description
An updated definitive feasibility study (DFS) has determined that the proposed mine could produce 8 800 t/y in the base case, over a 15-year life-of-mine, based on current and advanced DFS work.

The power requirement at the mine site is expected to be 13 MW and this will be provided by local utility Kelag through an underground cable from the Wolfsberg substation.

The hydrometallurgical plant requires 11.5 MW and this is expected to be supplied from nearby power lines. The plant will connect to the nearby natural gas transmission line for gas required for the flash calciner.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an accelerated case net present value, at a 6% discount rate of $1.5-billion, based on measured and indicated resources of 9.7-million tonnes grading 1% lithium oxide.

Capital Expenditure
Preproduction capital is estimated at $866-million.

Planned Start/End Date
Not stated.

Latest Developments
The final DFS is anticipated in the first quarter of 2023.

In January 2023, European Lithium signed a nonbinding memorandum of understanding (MoU) with Obeikan Investment Group to build and operate a hydroxide plant, in Saudi Arabia, for the 100%-owned Wolfsberg lithium project.

The MoU will enable European Lithium to focus its efforts on building the facilities to start mining concentrate, in addition to benefiting from the joint venture opportunities.

Key Contracts, Suppliers and Consultants
DRA (DFS) Dorfner Anzaplan (metallurgical testwork in support of DRA process engineering); SRK Consulting (mining engineering and mine capital and operating cost estimates, geotechnical engineering, hydrogeology, ore reserves); Paterson & Cooke (tailings design with capital and operating cost estimate); Umweltbüro (environmental study); Benchmark Minerals Intelligence (base data for marketing studies, lithium carbonate/hydroxide); Orykton Consulting (marketing study spodumene, battery-grade lithium hydroxide and by-products).

Contact Details for Project Information
European Lithium, tel +61 8 6181 9792 or email info@europeanlithium.com.