REG - Zinnwald Lithium PLC - Saxony Government Support for the Zinnwald Project

Zinnwald LithiumAnnouncement

04/06/2024 15:00

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RNS Number : 0930R  Zinnwald Lithium PLC  04 June 2024

 Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector: Mining

4 June 2024

 

Zinnwald Lithium plc ("Zinnwald Lithium" or the "Company")

Saxony Government Support for the Zinnwald Lithium Project

 

Zinnwald Lithium Plc (AIM:ZNWD) is pleased to note that this morning the
Cabinet of the State of Saxony has instructed the Minister of Economic
Affairs, Martin Dulig, to conclude administrative agreements ("Agreements")
with the German Federal Ministry of Economics ("BMWK") for two battery-chain
projects in Saxony, one of which being the Zinnwald Lithium Project.  The
Agreements are to provide grant funding support for the Project by the State
of Saxony in conjunction with the Federal Government under the EU's Temporary
Crisis and Transition Framework ("TCTF").

 

This decision does not guarantee that funding will be secured under the TCTF.
The Federal Government expects to make a formal decision on recommended
projects during 2024 and final funding decisions at the end of the year.  The
Parliament of the State of Saxony will also need to formally approve its
portion of any funding.

 

Zinnwald Lithium CEO, Anton du Plessis, commented: "We are delighted by this
strong expression of support from the Government of the State of Saxony for
the Zinnwald Project.  Whilst there are no guarantees whether and how much
grant funding the Project may eventually receive, this is a further indication
of the importance being placed on encouraging domestic sources of supply of
critical raw minerals in Germany and the EU."

 

The Saxony Government's press release can be found at
www.medienservice.sachsen.de/medien/news/1076289
(http://www.medienservice.sachsen.de/medien/news/1076289)

 

A further announcement will be made at the appropriate time.

 

*ENDS*

 

To engage with us directly via our investor hub, please sign up at

https://investors.zinnwaldlithium.com/auth/signup
(https://investors.zinnwaldlithium.com/auth/signup)

 

 For further information visit www.zinnwaldlithium.com
(http://www.zinnwaldlithium.com/)  or contact:

 

 Anton du Plessis       Zinnwald Lithium plc  info@zinnwaldlithium.com (mailto:info@zinnwaldlithium.com)

 Cherif Rifaat
 David Hart             Allenby Capital       +44 (0) 20 3328 5656

 Dan Dearden-Williams   (Nominated Adviser)
 Michael Seabrook       Oberon Capital Ltd    +44 (0) 20 3179 5300

 Adam Pollock           (Joint Broker)
 Richard Greenfield     Tamesis Partner LLP   +44 (0) 20 3882 2868

 Charles Bendon         (Joint Broker)
 Isabel de Salis        St Brides Partners    zinnwald@stbridespartners.co.uk (mailto:zinnwald@stbridespartners.co.uk)

 Paul Dulieu            (Financial PR)

 

Notes

AIM quoted Zinnwald Lithium plc (EPIC: ZNWD.L) is focused on becoming an
important supplier of lithium hydroxide to Europe's fast-growing battery
sector. The Company owns 100% of the Zinnwald Lithium Project in Germany,
which has an approved mining licence, is located in the heart
of Europe's chemical and automotive industries and has the potential to be
one of Europe's more advanced battery grade lithium projects.

 

 

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