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Krupa Global Investments (KGI), one of the largest Czech shareholders of European Metals Holdings (EMH), responds to announcement that European Metals Holdings (EMH) has agreed on a strategic partnership with Czech energy company CEZ Group (CEZ) and a significant investment in the lithium mining project in Cínovec. KGI also notifies that it is interested in increasing its equity position in EMH.
“We welcome the shift in negotiations on the EMH agreement with CEZ on a strategic partnership in the lithium mining project in Cinovec, and we continue to support the rapid progress to start implementing the project. We perceive the activity of CEZ as an expected necessary input of a strategic investor, which we also initiated by our activities. EMH has clearly shown that it is interested in participating in the project with the Czech state, which has resolved a certain consensus on the requirements of Czech Republic with regard to controlling over the entire process of lithium mining and its subsequent processing on the Czech territory. It is important that part of the funds obtained by lithium mining on Cinovec remain in the budget of the Czech Republic,“ says Pavol Krupa, the owner of the KGI group, commenting on the current development. As an active minority shareholder of EMH, the KGI group considers this development to be a positive impulse for the mining and subsequent processing of lithium in Cinovec. We are pleased that there has been a further step towards gaining a significant position for mining this strategic raw material in the region of Europe.
“KGI is interested in increasing its ownership position in EMH if CEZ finally enters the project in order to participate in supporting the implementation of the project. CEZ’s commitment is a clear signal for other Czech investors and foreign venture funds, which will enable EMH to raise additional capital for the project,” Pavol Krúpa adds.
For a long time, the KGI Group has been actively involved and taken steps to develop and realize the project of lithium mining and processing in Cinovec. We have also actively initiated the lithium mining subject in Cinovec into effective communication with representatives of the Czech state in order to achieve successful development and rapid progress in this project. The KGI group intends to continue to support the mining in major lithium deposits in the Czech Republic, as the surrounding world is currently moving very fast in the lithium industry. Therefore, it is essential that the EMH’s negotiations with CEZ be completed as soon as possible, so that the mining process can begin and the Czech Republic is able to keep pace with the transformation of the automotive industry within the EU.