European Lithium Ltd. (AU:EUR) has released an update.
European Lithium Ltd. has announced a significant partnership with Obeikan Group to construct and operate a lithium hydroxide plant in Saudi Arabia, aimed at processing spodumene concentrate from Austria’s Wolfsberg Lithium Project. This joint venture, named Arabian New Energy, is set to bolster European Lithium’s ambition to become the first European producer of both spodumene and hydroxide, supported by a strategic collaboration that aligns with Saudi Arabia’s Vision 2030. The partnership is expected to leverage the technical expertise of European Lithium, Obeikan Group’s industrial knowledge, and the financial strength of the Saudi market.
For further insights into AU:EUR stock, check out TipRanks’ Stock Analysis page.
