Portugal news – What are the new lithium projects in Portugal in 2023? The lithium race in Portugal is on and the white gold rush now has a new EUR 16 million investment project that is a joint venture between AMG Brazil and Grupo Lagoa for mining in Ribeira de Pena in northern Portugal.
Portugal’s lithium reserves are 60,000 tons and Portugal ranks 9th in the Top 10 countries with the largest lithium reserves. Portugal is already Europe’s top lithium producer, the supply accounting for about 11% of the global market. However, its output is entirely used to make ceramics and Europe imports the white gold from China, Australia and Latin America’s Lithium Triangle. With the new EU plans to create strategic lithium reserves in order to prevent disruptions in the supply chain, the rush for the white gold is now on.
Prime Minister António Costa claimed that "Portugal and Spain jointly possess the largest reserves of a natural resource that is fundamental for electric mobility in the coming years: Lithium."
AMG Critical Materials N.V., a subsidiary of multinational AMG Group, has signed an MOU with Portuguese company Grupo Lagoa which operates a pegmatite mine. The upcoming project aims at concentrating the lithium minerals contained in the pegmatite deposits to produce commercial grade Spodumene concentrate. The project is subject to permits from the relevant Portuguese authorities and the successful operation of the pilot plant.
The pilot plant will have the capacity to process up to 80,000 tons of pegmatite yearly, that should produce around six to eight thousand tons of lithium concentrate. According to Grupo Lagoa, this will help Portugal in the energy transition process through the production of commercial-quality lithium spodumene concentrate that could feed future lithium refineries in Portugal and Europe.
Fabiano Costa, President of AMG Brazil, stated that producing spodumene concentrate in Europe is a key part of the overall lithium strategy for AMG.
AMG Group, that combines lithium expertise in R&D as well as production and marketing, strives to become the number one supplier for the battery market in Europe. With approximately 3,600 employees, AMG operates globally with production facilities in Germany, the United Kingdom, France, the United States, China, Mexico, Brazil, India, Sri Lanka, and Mozambique.
Other lithium projects initiated in Portugal include the Aurora Project that is a joint venture between Galp and Northvolt for building Europe’s largest lithium refinery in Setúbal in southern Portugal, as well as the Barroso Lithium Project by Savannah Resources PLC that is located in northern Portugal and that is considered to be western Europe’s most significant spodumene lithium project.