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- The Regional Government of Extremadura reinforces its backing for lithium projects
- This offers a boost to projects in the southwestern part of Spain, including Infinity Lithium’s (ASX:INF) San Jose project
- INF is progressing with the 75-per per cent owned project, deemed essential in the EU’s development of a vertically integrated lithium-ion battery supply chain
- San Jose is set to accelerate the permitting process through PREMIA application
- INF shares are up 3.53 per cent, trading at 8.8 cents at 2:44 pm AEDT
The Regional Government of Extremadura in Spain has announced its continued support for lithium projects in the region, emphasising the importance of stimulus measures and legal assurances for companies involved in lithium mineral processing.
It offers a boost to projects in the region, including that of Infinity Lithium’s (ASX:INF) San Jose project. INF is progressing with the 75-per per cent owned project, deemed essential in the EU’s development of a vertically integrated lithium-ion battery supply chain
The government believes that these measures, combined with legal guarantees, will provide a secure environment for companies operating in the lithium sector.
The recent decision by the Federal Constitutional Court to amend the Lithium Decree Law is significant. This amendment removes certain provisions, including expropriation requirements and the obligation for all lithium extracted in the region to undergo further processing into battery-grade lithium chemicals within Extremadura.
In response to these changes, the Junta de Extremadura has introduced stimulus measures.
Under the modified Lithium Decree Law, the San Jose Lithium Project will continue to benefit from previous legislation.
It will also maintain its eligibility for PREMIA project classification, which accelerates the permitting process.
“the continued alignment of San José to local and regional stakeholders remains a priority for the Company and we welcome the commitment of the Regional Government to support socially, environmentally and economically beneficial lithium projects that are strategically critical for Spain and the EU’s green transition,” INF CEO and Managing Director said.
Infinity Lithium shares were up 3.53 per cent, trading at 8.8 cents at 2:44 pm AEDT.
