African lithium developer, Prospect Resources has been accepted into the European Raw Material Alliance (ERMA) as a primary raw material partner.
ERMA aims to make Europe economically more resilient by diversifying its supply chains, creating jobs, attracting investments to the raw materials value chain, fostering innovation, training young talent and contributing to the best enabling framework for raw materials worldwide.
Read more about Prospect Resources
Prospect plans to accelerate its engagement with European stakeholders and to participate in ERMA’s development strategy for critical materials.
The offtake agreement with Sibelco N.V (Sibelco) is a practical step to improving Europe’s critical material resilience.
Prospect’s MD Sam Hosack says:
“Prospect is continuing to build its position in Europe with investors, customers and supply chains. Europe’s growing demand for both battery and glass & ceramics markets, places Prospect in a prime position to engage with European stakeholders.
Read more about Prospect Resources’ Arcadia project in Zimbabwe
“Demand for critical raw materials is going to rise steadily, especially given the green energy transition is accelerating with lithium at the front and centre.
“The lithium market is showing the signs of a resurgence driven by increases in demand, presenting an opportunity for Prospect to commence production in robust market conditions.”