Portugal Plans Delayed Lithium Auction for 2025

Forex - The Portuguese government has announced plans to launch a long-delayed lithium exploration license tender in 2025, aiming to make the country the leading supplier of critical metals for the green transition in Europe. The center-right government, which took office in April, stated that the international lithium exploration tender would target six regions in the north and center of the country. The previous Socialist administration initially planned a tender in 2018, but concerns over the environmental and social impacts of lithium mining led to numerous postponements. Environment Minister Maria da Graca Carvalho said the tender is part of Portugal's plans to meet goals for greater security in Europe and to reduce dependence on imports of critical materials from countries like China. Carvalho told reporters, "Our intention is to launch the tender in 2025," adding that the government aims to expedite the licensing processes for projects while still being "demanding in the assessment of environmental impacts." With known reserves of 60,000 tons, Portugal is the largest lithium producer in Europe, but miners have mainly sold to the ceramics industry and are just beginning to prepare for the production of higher-grade lithium for use in electric vehicles.