Neptune Energy announced the discovery of a large lithium deposit in the Altmark region in the German state of Saxony-Anhalt, the Bild newspaper reported.
This could be a turning point for the future of the German automotive industry. Lithium is a key component of batteries used in electric vehicles, smartphones and tablets. According to Neptune Energy, the Altmark region contains a deposit with reserves of 43 million tons of lithium carbonate equivalent. If the predictions are correct, it will be one of the largest lithium deposits in the world.
The discovery will not be mined using traditional methods. The plan is to pump thermal water from the depths to the surface, extract the lithium using a filter system and pump the water back.
According to IW Consult “if the project is fully implemented, the potential gross added value for Germany for the period 2025 and 2042 would amount to 6.4 billion EUR“. This could lead to the creation of up to 1,500 jobs.
However, the Saxony-Anhalt Ministry of Economics explained that “the potential lithium mining project in the Altmark region is currently at a very early stage“. "Whether it will be able to make a concrete contribution to the supply of lithium to the domestic and European markets can only be assessed with sufficient certainty after the completion of the demonstration phase of the project," the agency representative noted.
However, in three completed pilot projects, Neptune Energy has already demonstrated that lithium mining can be successful. If all goes according to plan, the commercial production phase is expected to begin in 2033, once all permits have been obtained.