Vulcan Secures Second Lionheart Lithium Production Licence

Vulcan Energy (ASX:VUL) has been granted a second lithium production licence, designated Ilka, for its Lionheart Project in Germany. The licence was issued by the Mining Authority of the German state of Rhineland-Palatinate and is the second of its kind granted in the Upper Rhine Valley Brine Field and in that state, following an earlier grant covering the area known as LiThermEx. The Ilka licence covers Vulcan's Landau geothermal production permit area, which is already producing renewable heat. It is valid for six years, until 9 September 2032, after which Vulcan says it will look to combine the LiThermEx and Ilka licences into a single licence granted for a minimum of 30 years, consistent with the Lionheart Field Development Plan.

Lionheart, which is under construction, is Vulcan's first phase of commercial lithium production and involves an integrated lithium and geothermal energy project targeting production capacity of 24,000 tonnes a year of lithium hydroxide monohydrate, which the company equates to about 500,000 electric vehicle batteries per annum, together with co-products of 275 GWh of renewable power and 560 GWh of heat per annum for local consumers, over an estimated 30-year project life. Vulcan describes the grant as satisfaction of a further milestone towards its 2028 Lionheart production target, and says construction and field development are progressing to schedule.