Austrian Government renews Wolfsberg mining licence for two years

The Austrian Government has renewed Critical Metals' Wolfsberg mining licence for an further 2 years, contempt erstwhile media reports suggesting otherwise.

Situated 270km south-west of Vienna successful Carinthia, Austria, Wolfsberg is simply a large-scale hard stone lithium deposit with roadworthy and obstruction links for casual marketplace access.

Critical Metals said that a determination regarding the commencement of mining operations is anticipated by the extremity of this year.

Over the past six months, the lithium assemblage has experienced a beardown recovery, according to the US-based company.

Key lithium compound prices person risen importantly from aboriginal 2025 lows, driven by tighter proviso and beardown request growth.

In China, battery-grade lithium carbonate prices person risen to astir 168,000–170,000 yuan per tonne (t), oregon $23,000–24,000 per tonne equivalent reflecting gains of much than 40% successful the past period and implicit 100% year-over-year successful immoderate benchmarks.

Spodumene ore has besides seen terms increases, trading astatine astir $2,000–2,168/t. The terms surge signals a determination distant from earlier oversupply fears towards a much balanced market, with the anticipation of a proviso deficit.

Critical Metals president Tony Sage said: “We person precocious met with Obeikan (our Saudi hydroxide works partners) and agreed a model for a ‘decision to mine’ by the extremity of 2026 if prices stay robust and financing options are available.”

Lithium prices are expected to support an upward inclination done 2026, driven by expanding request from artillery vigor retention systems arsenic good arsenic the robotics and drone sectors.

Investments successful vigor retention crossed large economies and resilient downstream depletion enactment this optimistic outlook for continued terms strength.

The Wolfsberg Lithium Project is seen arsenic a captious plus successful Europe’s lithium sector, supported by authorities licensing and poised to lend importantly to the lithium-ion artillery proviso chain.

In 2023, European Lithium secured six caller mining licences, efficaciously doubling the footprint of the Wolfsberg Project.

Additionally, extensions were granted for 3 existing licences, impacting some the Andreas and recently designated Barbara fields.

These developments alteration the licences to widen beyond the existent assets area.

In March 2024, Sizzle Acquisition and European Lithium announced the completion of their concern operation to signifier Critical Metals.

Critical Metals concentrates connected extracting cardinal metals and minerals, arsenic good arsenic producing strategical products important for aboriginal electrification and next-generation technologies.