The Austrian government has renewed Critical Metals’ Wolfsberg lithium mining licence for a further two years, despite recent media reports suggesting otherwise.
US-listed Critical Metals said the extension provides continued regulatory certainty for the advanced hard-rock lithium project in Carinthia, Austria, as it assesses development options amid strengthening lithium market conditions.
Chairperson Tony Sage said a development decision would depend on market and funding conditions.
“We have recently met with Obeikan (our Saudi hydroxide plant partners) and agreed a framework for a ‘decision to mine’ by the end of 2026 if prices remain robust and financing options are available.”
Critical Metals said battery-grade lithium carbonate prices in China have climbed to about ¥168 000/t to ¥170 000/t, while spodumene concentrate has recovered to around $2 000/t.
The company said the improved pricing environment strengthens the potential financing outlook for Wolfsberg.
Located in southern Austria, the Wolfsberg project is regarded as one of Europe’s most advanced lithium developments and is designed to supply spodumene concentrate to the region’s electric vehicle and battery storage markets.
Critical Metals is also developing the Tanbreez rare earths project in Greenland.T