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Investment projects for the extraction of lithium in Ukraine may be suspended

Ukraine / Non-ferrous metallurgy
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Polish entrepreneurs may temporarily suspend the implementation of the lithium projects in Ukraine after the decision of the Supreme court.

Investment projects for the extraction of lithium in Ukraine may be suspended

partner of the investment company Millstone&Co Mikhail Zhernov interview Ukrainian news said that, if you continue in Ukraine, will be artificially erect administrative barriers to business, his company will switch to the time on projects in the sphere of extraction and production of lithium in other countries.

"the Situation on the market lithium in the world allows us to pause the project in Ukraine. Today, many global companies are cheaper and require additional resource. And if you continue to be artificially erect administrative barriers, we can switch at time on projects in this field in other countries," said Burr.

This reaction Polish investors followed the decision of the Supreme court of Ukraine about the cancellation of the special permit for the extraction of lithium ores from the Shevchenko Deposit in the Donetsk region, which was obtained by the investor in 2018 without auction, through the mechanism of approbation, which, in particular, includes the geologically and economic revaluation of reserves and resources based on available geological materials.

However, Millstone&Co are confident of victory and say that the judicial process is simply to make the logical conclusion, confirm that the company has obtained all licenses and permits legally and put a period.

"that was published in the media – one of the stages of the judicial process. We have a fairly strong position, and in the summer we plan to complete this process," says Millstone. "The lithium extraction project in Ukraine today - is a unicorn in our Ukrainian projects! Our entry into business related to the lithium deposits is a challenge for us."

He stressed that the growth of demand for electric vehicles is of great interest in lithium, which is the raw material for the production of batteries. All of the global economy stimulate the production projects of metal, and Ukraine can "fall out of the chain without ever hitting there."

According to the Millstone in Ukraine is explored in the Soviet Union a few lithium deposits. One - on the territory of Donetsk region and on the territory of Kirovohrad.

"We continue to fight for a license - if more than one field, the complex will work. And here come into play the Ukrainian bureaucracy - lead the discussion with the State service of Geology and bowels of Ukraine, but still speak different languages," said Burr.

estimates Millstone&Co, the Ukrainian lithium project can become No. 3 in the EU with an estimated resource of 0.8 million tonnes LCE (equivalent of lithium carbonate) and a potential annual production capacity of 15,000 LCE.

the Position of the Prosecutor's office Ukraine is the fact that the global market for lithium is growing rapidly, potential domestic and foreign investors are ready to invest heavily in the study of Ukrainian deposits, which are leaders in the reserves of lithium in Europe so the "transparent and adequate mechanisms for obtaining special permits for the extraction of lithium on a competitive basis as required by applicable law, will contribute to a significant replenishment of the budget of the country."

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