Vulcan Energy reveals €1.7B Phase Two project

• Vulcan Energy completed a pre-feasibility study showing a post-tax net present value of €1.7 billion for its Phase Two Project Ludwig.
• Total capital expenditure for the expansion project is estimated at €1.26 billion with expected operational costs of €4,101 per tonne.
• The company plans to produce 21,100 tonnes per year of battery-grade lithium carbonate alongside renewable heat co-production.

Vulcan Energy (ASX:VUL) announced a preliminary feasibility study for its Phase Two Project Ludwig featuring a post-tax net present value of €1.7 billion.

The latest study demonstrates a 15% reduction in capital intensity compared to the earlier Lionheart project, lowering total capital expenditure requirements to €1.26 billion.

Vulcan’s Managing Director and CEO, Cris Moreno, commented, "We're applying the technical, operational and commercial blueprint of Lionheart to a second development area with similar resource and geological characteristics."

The project outlines annual base production of 21,100 tonnes of lithium carbonate alongside 3,125 gigawatt-hours of renewable heat energy.

Following the announcement, the Vulcan Energy share price was unchanged at $2.58.

Vulcan Energy initiated an asset-level financing strategy to prepare for a final investment decision following the start-up of Project Lionheart.

The project location in the Ludwigshafen region contains indicated mineral resources of 1,251 kilotonnes of lithium carbonate equivalent.