Vulcan Energy (ASX:VUL) Announces 76% Increase in Mannheim Lithium Resources and Maiden Geothermal Estimate
Resource Estimations
Vulcan Energy (ASX: VUL) has completed an updated lithium brine resource estimation for the Mannheim sector, showing a 76% increase from 1,833kt LCE at 153 mg/L to 3,225kt LCE at 155 mg/L. Additionally, the company released its maiden geothermal energy resource estimate, identifying 2,848 PJ in Indicated resources and 10,539 PJ in Inferred resources, with recoverable amounts of 171 PJ and 377 PJ respectively.
Future Production and Financing
Vulcan Energy is advancing a scoping study for the next phase of integrated lithium and renewable energy production in Mannheim, located 40km northeast of Phase One. The company plans to expand its downstream lithium hydroxide monohydrate facility in Industrie-Park Höchst and aims to provide baseload geothermal heat to MVV Energie AG’s district heating network. Financing for Phase One includes €879m in conditional debt commitments, a €500m financing envelope from the EIB, and €100m in grant funding, with construction set to commence in H2 2025. For Mannheim, funding is expected through government grants and strategic investments, with discussions ongoing.
Executive Comments
Vulcan Energy’s Managing Director and CEO, Cris Moreno, stated, “The completion of the lithium brine Resource update, together with our first geothermal energy Resource estimate, is yet another step forward in advancing our pipeline of integrated lithium and renewable energy project development in the Upper Rhine Valley Brine Field beyond our Phase One development. This further validates our strategy to replicate the current phase into future phases by utilising the URVBF bordering Germany and France. The URVBF is the largest lithium Resource in Europe, as well as one of the highest quality brine geothermal resources, and therefore a significant asset for Europe’s energy and critical raw materials security.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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