Austrian Government renews Wolfsberg mining licence for two years

Group 1: Mining Operations and Licenses - The Austrian Government has renewed Critical Metals' Wolfsberg mining licence for an additional two years, despite previous media reports suggesting otherwise [1] - The Wolfsberg project is a large-scale hard rock lithium deposit located 270km south-west of Vienna, Austria, with good market access [1] - A decision regarding the commencement of mining operations is anticipated by the end of this year [1] Group 2: Lithium Market Trends - The lithium sector has experienced a strong recovery over the past six months, with key lithium compound prices rising significantly from early 2025 lows due to tighter supply and strong demand growth [2] - Battery-grade lithium carbonate prices in China have risen to approximately 168,000–170,000 yuan per tonne, reflecting gains of more than 40% in the past month and over 100% year-over-year in some benchmarks [2] - Spodumene concentrate prices have also increased, trading at around $2,000–2,168 per tonne, indicating a shift towards a more balanced market with potential supply deficits [3] Group 3: Future Outlook and Strategic Developments - Critical Metals' chairman indicated a framework for a 'decision to mine' by the end of 2026, contingent on robust prices and available financing options [3] - Lithium prices are expected to maintain an upward trend through 2026, driven by increasing demand from battery energy storage systems and sectors like robotics and drones [3] - Investments in energy storage across major economies and resilient downstream consumption support an optimistic outlook for continued price strength [4] Group 4: Project Expansion and Strategic Importance - The Wolfsberg Lithium Project is viewed as a vital asset in Europe's lithium sector, supported by government licensing and poised to significantly contribute to the lithium-ion battery supply chain [4] - In 2023, European Lithium secured six new mining licences, effectively doubling the footprint of the Wolfsberg Project [4] - Extensions were granted for three existing licences, impacting both the Andreas and newly designated Barbara fields, allowing for resource area expansion [5] Group 5: Company Focus - Critical Metals focuses on extracting key metals and minerals, as well as producing strategic products essential for future electrification and next-generation technologies [6]