Infinity Lithium's San José project poised to benefit from Europe's progress towards self-sufficient battery industry

Infinity Lithium Corporation Ltd (ASX:INF) (FRA:3PM) welcomes the key priorities for the EU battery value chain as outlined in the 5th Ministerial Meeting of the European Battery Alliance on March 12, 2021, which enhance the position of its San José Lithium Project in Spain.

The meeting prioritised sustainable local sourcing and processing of raw materials used in batteries with the San José project in the spotlight.

A key issue was public funding aligned to raw materials through coronavirus recovery and resilience plans and through the European Investment Bank (EIB).*Strengthening local sourcing*

European Commission vice-president Maroš Šefčovič stated that it was essential for Member States to strengthen the sustainable local sourcing and processing of raw materials used in batteries, calling for greater mobilisation of public funding under COVID-19 national recovery and resilience plans for raw and advanced materials.

He also highlighted the involvement of the EIB's involvement to de-risk raw materials projects and to leverage additional private funds.

The European Commission will now launch a group that will focus on the sustainable extraction of raw materials and will publish a set of EU principles on sustainable raw materials and guidance on industrial actions.