Huge Lithium Reserves Discovered in Germany – Could Reshape EU’s Position in the Global Markets
Neptune Energy, a German global exploration and production (E&P) company has confirmed the discovery of over 43 million tons of lithium carbonate equivalent (LCE) in the Altmark region of Saxony-Anhalt in Germany.
“This new assessment underscores the great potential of our license areas in Saxony-Anhalt. This enables us to contribute significantly to the German and European supply market for the critical raw material lithium,” said Andreas Scheck, the CEO of Neptune Energy.
Given lithium’s crucial role in electric vehicle [EV] batteries and energy storage—and Germany’s strong automotive sector, which heightens its vulnerability due to reliance on imported raw materials – lithium reserves in Altmark could significantly strengthen Germany’s and EU’s role in the global electric vehicle and battery supply chain, as well as make Europe less dependent on others (especially China).
It is worth noting that The Lithium Triangle, shared between Argentina, Bolivia, and Chile, holds 53% of the world’s lithium resources, containing nearly 50 million tons of the alkali metal.
In that context, however, Elaine Dezenski, senior director at the Foundation for the Defense of Democracies (FDD) told Newsweek that easing Beijing’s grip on the global lithium supply chain depends on how the LCE found will be processed, which is now predominantly carried out in China. But given the EU’s aim towards less reliability, more investment on processing could follow.
Neptune Energy initially projected that the Altmark region contained around 70 million tons of lithium carbonate, with the potential to extract 25,000 tons per year—enough to supply batteries for approximately 500,000 electric vehicles. However, a separate assessment by Sproule ERCE later confirmed the presence of only 43 million tons of lithium carbonate equivalent (LCE), which still represents one of the biggest deposits of it ever found.
Neptune Energy announced it would adopt an environmentally-friendly technique called direct lithium extraction (DLE), which draws lithium from underground brine without resorting to harmful practices like open-pit mining or evaporation ponds, and requires minimal land use. Nevertheless, it is likely that they will face resistance by environmentalists.