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Europe supports construction of battery gigfactories

Billions the EU wants to loosen in financial resources to make Europe competitive in the electric vehicle market

The subsidies are available to companies that build battery manufacturing plants for the growing electric vehicle industry. Brussels fears that the automotive industry - an important branch of the economy - could lose out in the battle against Asian imports. The big German car manufacturers such as VW or Mercedes are working on various electric cars and plug-in hybrid cars, Tesla and Japanese manufacturers are also pushing to Europe.

You don't want to miss the boat. After all, around 80 percent of the existing and planned battery sites are located in China, while in Europe the figure is less than four percent. Therefore, there are already around 260 companies in the EU Battery Alliance, with four groups of them planning battery factories that can compete with Tesla's "Gigafactory" in Nevada. Germany has teamed up with Poland to set up battery production facilities in western Poland and Lusatia.

And car manufacturers are increasingly in need of lithium-ion batteries. These still have to be purchased primarily in Asia. The highest quality lithium deposits are found in the so-called "lithium triangle" between Bolivia, Argentina and Chile. In Argentina, in Salta, for example, Millennial Lithium is working on its Pastos Grandes Lithium project and on the Cucharí East project. Both are already advanced and are located in the best lithium region.

Copper is also increasingly needed to build vehicles with the new drive technologies. In 2017, 57 percent of copper was used worldwide in the cable and electrical sectors. Around 15 percent went to the construction industry and around nine percent to the automotive sector. Copper is one of the commodities, alongside gold, on which Auryn Resources concentrates. The Sombrero gold-copper project in southern Peru has recently returned to excellent drilling results. The project has impressive surface mineralization.

Current corporate information and press releases from Millennial Lithium (https://www.resource-capital.ch/en/companies/millennial-lithium-corp.html) and Auryn Resources (https://www.resource-capital.ch/en/companies/auryn-resources-inc.html).

In accordance with §34 WpHG, I would like to point out that partners, authors and employees can hold shares in the companies mentioned in each case and therefore there is a possible conflict of interest. Only the English version of these messages applies.

Disclaimer: The information provided does not constitute any form of recommendation or advice. We expressly point out the risks involved in securities trading. No liability can be assumed for damages resulting from the use of this blog. I would like to point out that shares and in particular warrant investments are generally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. I expressly reserve the right to make a mistake, in particular with regard to figures and exchange rates, despite the utmost care. The information contained herein has been obtained from sources believed to be reliable but does not claim to be accurate or complete. Due to court rulings the contents of linked external sites are also to answer for (so among other things district court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: www.resource-capital.ch/en/disclaimer.html

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PDAC 2019

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at info@resource-capital.ch. We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

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