Germany Chancellor plans lithium deal with Serbia after Rio ruling
Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry.
Australian lithium producer Vulcan Energy said on Tuesday it is exploring to jointly develop its Central Lithium Plant with Frankfurt-based chemical producer Nobian.
The potential deal comes as demand for lithium hydroxide sees a surge due to shifting preferences towards electric cars, with Vulcan looking to cash in on its position to be a key supplier of raw materials for European automakers, including Volkswagen, Stellantis and Renault.
Lithium hydroxide is a crucial chemical used in making batteries for electric vehicles.
Vulcan and Nobian signed an MoU and a term sheet to explore the joint development, which will occur in phases. The company had already secured a site in Frankfurt for the “zero carbon” lithium plant.
Jürgen Baune, managing director at Nobian, said the deal will allow Nobian to become a key player in supplying raw materials to the battery industry.
($1 = 0.8826 euros)
(By Savyata Mishra; Editing by Uttaresh.V)
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