On Wednesday, Czech Prime Minister Petr Fiala and Saxon Prime Minister Michael Kretschmer signed a memorandum of cooperation in Dresden. The agreement will speed up the approval process for lithium mining in the Ore Mountains, located on both sides of the border.
The Cínovec deposit is Europe’s largest lithium deposit and is classified as a critical material by the European Union. It is estimated that the lithium deposit in Cínovec could enable the production of batteries for half a million electric cars. Mining is scheduled to begin in 2026.
The memorandum of cooperation between the Czech Republic and Saxony is an important step in the development of the lithium mining industry in the Ore Mountains. It will ensure that the approval process is streamlined and efficient, allowing the project to move forward.