An Australian company on track to become Europe’s first lithium producer said China’s appetite for the material, which is key to the renewable-energy transition, has created a clear runway for further expansion in the continent.
“A lot of supply is going into China, and China’s own needs are growing,” Critical Metals Corp. Executive Chairman Tony Sage said in a Bloomberg Television interview from Perth on Wednesday.
The Asian nation’s domination of the market means “there are another four or five players in Europe also hoping to get into production” and “we are going to be the first,” he said.
Sage was speaking a day after the unit of Australian miner European Lithium Ltd. agreed to go public on Nasdaq through a merger with blank-check company Sizzle Acquisition Corp. The combined entity — Critical Metals — will own European Lithium’s project in Wolfsberg, Austria.
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