On Monday, the government approved a memorandum between the state represented by the Ministry of Industry and Trade and ČEZ on support for a project for a battery factory for electric vehicles in the Czech Republic, the so-called gigafactory. This was stated on Twitter by Deputy Prime Minister and Minister of Industry and Transport Karel Havlíček (for YES). According to him, the expected investment of over 50 billion crowns will bring at least 2,300 jobs. The investment should amount to at least 52 billion crowns (Approx £1.6bn) in the 1st phase. Havlíček and CEZ CEO Daniel Beneš will sign the memorandum on Tuesday morning.
CEZ Group said last year it wants to use lithium from the Cínovec area.
Cadence Minerals plc (LON:KDNC) provides mining services. The Company focuses on finding lithium and other technology minerals in new places, as well as offers extracting services.