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Posted by portugalpress on March 09, 2018

Energy secretary Jorge Seguro Sanches may have environmental groups baying for his resignation, but he’s back from a promotional trip to Canada with over 40 investors interested in seeking licenses to prospect for lithium (click here).
Interest has been so great that, he told Bloomberg, that the government has decided to auction off the licences.

And mindful that Portugal’s reserves of “this natural resource” are still ‘small’ in comparison to global stocks, the plan is to “attract investment that isn’t simply limited to exploration” but which could include “the development of industrial projects, which could include, for example, factories for the manufacture of batteries.

“We want work on lithium within the Portuguese economy to start as soon as possible”, he said, stressing that the State is “already organising the first auctions for lithium prospecting, after which would come its production”.

He said Portugal has already received “more than 40 requests for licences, which show there is a lot of interest in this resource.

“These companies are very interested”, he reiterated. “They certainly see economic viability”.

natasha.donn@algarveresident.com

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