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Critical Metals Wants To Be One Of The First Lithium Producers in Europe

March 4, 2024
x min read

A newly listed Nasdaq company has a bold ambition: to be the largest local supplier of lithium in Europe.'

What’s happening:

  • Lithium mining company Critical Metals (NASDAQ: CRML) has officially gone public on the Nasdaq
  • The new public listing was done via a SPAC deal with Sizzle Acquisition Corporation

The big idea:

  • Critical Metals owns the first fully licensed lithium mine located within Europe
  • Critical Metals Austrian based lithium project Wolfsberg is aiming to be the largest local supplier of battery grade lithium within Europe to both battery manufacturers and automakers

Going deeper:

  • BMW previously entered into a partnership with Critical Metals to purchase supply of battery grade lithium for their electric vehicle production
  • Europe has been rolling out significant new battery manufacturing facility projects, many of which have attracted government funding to help accelerate the transition to electric vehicles

The intrigue:

  • Critical Metals has a joint venture agreement with Obeikan Investment Group to build out the first lithium hydroxide refining plant ever in Saudi Arabia

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