22. 7. 2019

KGI Welcomes the Envolvement of CEZ in EMH

Krupa Global Investments (KGI Group), one of the largest Czech shareholders in the company European Metals Holdings (EMH), responds to today´s announcement that energy company CEZ Group will explore the possibilities of extraction of lithium in Czech Republic and examine the company EMH which holds the privileged extraction rights and will grant a loan to the company in the amount of € 2 million.

„We consider the activity of the company CEZ as the expected entry of a strategic investor that we have iniciated. We welcome the envolvement of CEZ in the company EMH and we are glad that the management of CEZ is aware of significant current trends in energy industry and decided to support these trends. KGI Group as an active minority shareholder in the company EMH considers the activity as a positive impulse to extracting of lithium in Cinovec and it is an opportunity for CEZ to obtain a position for this strategic raw material in the European region. This cooperation would also reach a consensus in requirements of Czech Republic regarding to control of the mining operations and subsequent processing of lithium on Czech territory“, Pavol Krúpa, the owner of KGI commented on current developement.

KGI Group has long been actively involved and taking steps in the developement and implementation of the project of extraction and processing of lithium in Cinovec. We have also actively iniciated the effective communication between the entity extracting lithium in Cinovec and the Czech official representatives to achieve a successful developement and rapid progress on the project. KGI Group is continuing to support extraction in significant lithium deposits in Czech Republic straining to keep pace with the outside world where the lithium demand is growing so fast. To ensure the profitability of extraction and subsequent processing of lithium on Czech territory, it is necessary to implement the project within 3 – 5 years.