News

Portuguese lithium could fuel up Europe’s electric vehicle revolution

Portugal may permit lithium mining by next year, reducing Europe’s reliance on outside sources for a vital component in the worldwide drive to decarbonize the auto sector.

The country in southern Europe is estimated to contain the most lithium reserves. Like nickel and cobalt, lithium has become a coveted raw material since it manufactures electric vehicle (EV) batteries.

Manufacturers are struggling to build low-emission fleets, and the government is attempting to phase out fossil fuel-powered vehicles as part of the fight against climate change.

Portugal’s environment regulator is to deliver its verdict on the licencing of a primary new lithium mine in the northern region is expected to come at the beginning of 2022.

The regulator’s ruling could help Europe’s independent lithium supplies, as lithium is mined mainly in Australia, South America, and China dominates the supply chain.

China controls over 40% of worldwide lithium production and nearly 60% of global lithium refining capacity, making it an economic opponent and a strategic partner in many western capitals.

That could change if a merger between Galp Energia SGPS SA, a Portugal based oil company and Northvolt AB, a Swedish electric battery company, succeeds. Earlier this month, the two businesses agreed to build one of Europe’s largest lithium refineries in northern Portugal.

The project, which is expected to cost over 700 million euros (the US $792.58 million), would process enough ore to create batteries for around 700,000 electric vehicles per year by 2026.

 

Gabriel Peters

Leave a Comment

Recent Posts

France Sets Sights on Near-Space Warfare With Missile Test and Strategic Investments

French defense officials revealed the results and outlined the broader near-space strategy in a press… Read More

14 hours ago

France Enacts Nationwide Smoking Ban on Beaches, Parks, and Public Spaces

The decree bans smoking on beaches, in public parks, gardens, and bus stops nationwide, also… Read More

15 hours ago

Kylian Mbappé Accuses PSG of ‘Moral Harassment’ in Legal Battle Over $61 Million in Unpaid Wages

Mbappé, who now plays for Spanish giants Real Madrid, claims that PSG subjected him to… Read More

2 days ago

Torrential Storms Kill Two in France, Flood Paris Streets

According to France’s civil defence agency, the storm followed an intense heatwave that had left… Read More

2 days ago

Le Pen Taps Bardella for 2027 Presidential Bid Amid Legal Setback

She and several senior party figures were found guilty of creating fake parliamentary assistant jobs… Read More

3 days ago

France Orders Recall of 2.5 Million Cars Over Deadly Takata Airbags

The tragedy prompted France’s transport ministry to extend a sweeping "do not drive" directive on… Read More

3 days ago