Infinity Lithium Corporation Ltd (ASX:INF) welcomes the announcement made by the Regional Government of Extremadura in Spain to reinforce its commitment to the development of lithium projects in the region.
The regional government strengthened its resolve to facilitate lithium mineral processing in response to modifications made to the Extremadura Lithium Decree Law 5/2022 to remove Articles 2 to 4, annulling expropriation provisions and the requirement for all lithium exploited within the region to be further processed into battery-grade lithium chemicals.
To that end, the Junta de Extremadura has pledged to introduce stimulus measures that provide competitive advantages and issue legal guarantees to exploration companies for greater security.
Preferences remain
“The continued alignment of San José to local and regional stakeholders remains a priority for the company and we welcome the commitment of the Regional Government to support socially, environmentally and economically beneficial lithium projects that are strategically critical for Spain and the EU’s green transition,” Infinity chief executive officer and managing director Ryan Parkin said.
Infinity Lithium is progressing its 75%-owned San José Lithium Project in Extremadura and will retain the benefits of the prior legislation.
The project also remains eligible for PREMIA project classification, which means it is a project of general and regional interest, and qualification for accelerated permitting consideration.
Through its wholly-owned subsidiary, Extremadura New Energies, the company intends to advance the application for PREMIA classification shortly.