Mario Draghi: Portugal needs to speed up on lithium 'Super Mario' points the way to Portugal: we need to speed up on lithium
Mario Draghi has presented an ambitious plan to boost Europe's economy and industry. In the report, which is over 300 pages long, the former leader of the European Central Bank (ECB) makes suggestions for the most relevant sectors, but there is one in which Portugal is mentioned and where it can really make a difference: lithium mining. “The EU should unlock the potential of its domestic resources through mining, recycling and innovation in alternative materials. Unlike fossil fuels, the EU has deposits of some critical minerals, such as lithium in Portugal,” it reads. “Accelerating the opening of domestic mines could enable the EU to meet its consumption needs for some critical minerals.” The document recalls that the Critical Raw Materials Act already asks member states for shorter licensing times for strategic projects: 27 months for extraction licenses and 15 months for processing licenses, compared to current waiting times that can be three to five times longer. Portugal is the seventh largest producer among the eight countries that produce the most lithium in the world, but this mineral is mainly used in the ceramics and glass industries. The country has reserves (available for exploration) of 60 thousand tons, the ninth largest in the world and the largest in Europe. But the unstoppable growth of electric cars is causing an increase in the demand for lithium to manufacture batteries. In terms of investment in the four ongoing projects, the Savannah mine is expected to cost 260 million euros, and the Lusorecursos mine in Montalegre is estimated at 650 million euros; the Aurora refinery has a planned investment of 700 million euros; and the CALB factory, two billion euros. A study published this year calculated the impacts of three of these projects: the Barroso mine, Vila Real, owned by the British company Savannah, with a 113 million euro impact on GDP and 286 jobs; the Galp/Northvolt refinery in Setbal, 226 million and 156 jobs; and the CALB battery factory in Sines, 2.731 million and 2,500 jobs. Together, the impact is three billion euros per year on national GDP, more than 1% of the wealth produced in the country, and with the potential to employ three thousand workers, according to the study “The European Union’s dependence on lithium and lithium-ion batteries: analysis in light of strategic autonomy”, written by Beatriz Raichande, from ISEG – Lisbon School of Economics & Management.
Google Translation from: https://jornaleconomico.sapo.pt/noticias/super-mario-aponta-o-caminho-a-portugal-e-preciso-acelerar-no-litio/