Infinity gathers more support for its San José lithium project in Spain
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Local and Regional Government invite Infinity to formally present its underground Project
The company has seen the momentum really starting to roll in favour of lithium-ion battery developments in Caceras, with Spain’s Federal Government spruiking the creation of a lithium-ion battery value chain in Extremadura.
Cáceres’ mayor has noted that he does not oppose the new underground development plan, which will have less impact on the local environment, and appears to be distancing himself from groups that remain opposed to the project without allowing for objective discussions.
More news in Infinity Lithium’s (ASX:INF) favour is the Extremadura Government voicing its hopes that the San José project will come to fruition as it will be a positive for the region and Envision AESC and Acciona investing €1 billion into the construction of a 30GWh lithium-ion battery plant in Extremadura.
Infinity’s San José projects hosts the second largest lithium bearing hard-rock resource of 111.2 million tonnes, containing more than 1.6Mt of lithium carbonate equivalent in the EU.
The company favours the underground extraction of this resource as it would reduce surface tailings and leave no material visible impact from mining operations.
The Cáceres city council is establishing a framework to assess the project’s credentials to ensure that it adheres to the highest levels of environmental and social licensing scrutiny.
Infinity’s wholly-owned subsidiary Extremadura New Energies recently reached an agreement with the Association of Transport Entrepreneurs of Extremadura (Asemtraex) to promote economic development within the freight sector in Cáceres and Extremadura and create a transport logistics centre in Cáceres.
Asemtraex members will also have priority access to courses at the Battery Academy of the European Battery Alliance, where the company is working with EIT InnoEnergy to implement training courses.
Other agreements that the company has reached with major local business and community groups are deals with Círculo Empresarial Cacereño – a major advocacy group for SMEs in the region – and training and development programs with LOABRE and CarEX, which are regional organisations focused on electric mobility and economic development.
This article was developed in collaboration with Infinity Lithium, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.