Under the EU Critical Raw Materials Act, 10% of annual needs must be mined in Europe by 2030.

The lithium operations have been put on hold for 7 days to address administrative concerns raised by authorities.

South Korea’s battery giants have to date mainly focused on nickel cells and largely neglected research into iron-based cells.

The company announced a plan in November to separate its Argentine and North American units into two separate entities.

“Only a few years ago, you wanted to build a mine, there wasn’t a question of whether you would get the power or not," Sayona's CEO says.

The main focus for now is attracting investors to produce and export lithium concentrate from Brazil’s hard rock deposits.