The supervisory board of Czech electricity company ČEZ’s said it had
agreed the sale of its remaining Bulgarian assets to local company Inercom.
The final sale agreement is expected within days. The deal still has to be cleared by Bulgaria’s anti-monopoly authority.
The sale of the seven companies should draw a line under ČEZ’s 14 year history in Bulgaria which has in recent years involved frequent conflicts with the government and regulators.
ČEZ added though that the Bulgarian experience had turned a profit and that the final offer from Inercom was well over the market valuation of the assets and the valuation set by an independent analyst.
Czech moves to construct new nuclear reactors by addressing the crucial question of who and how they will be funded looks like it could be finally addressed. A proposed shake-up of energy company ČEZ aimed at paving the way for power plant construction is now going to be reviewed by a government appointed team of experts. But what reactors might the Czechs eventually choose?
Andrej Babiš, the prime minister in resignation and ANO leader, says the
Czech state should exploit the country’s lithium deposits. He told
journalists on Wednesday that the government wished to task the state
enterprise Diamo with ascertaining how much of the mineral the country
Mr. Babiš says a memorandum signed by a previous Czech government and European Metals Holdings on the mining of lithium is nonsensical and invalid. However, he says the government’s lawyers will have to decide on how to proceed on the matter.
Mr. Babiš says that his minister of industry, Tomáš Hüner, acted wrongly by saying he would sign an addendum to the memorandum with the Australian firm without first informing the government.
The Czech Republic and the Australian-based metals company, European Metals Holdings (EMH) will sign an addendum to the memorandum on lithium mining in the Czech Republic, the outgoing Minister of Industry and Trade Tomáš Hüner said following talks on Thursday with EMH representatives and the Czech firm Geomet, which holds a prospecting license for natural resources at the Cínovec mining site in the north of the country.
Czech minister of industry and trade, Tomáš Hüner, met with
representatives of Australian mining company, European Metals Holdings
(EMH), over future lithium mining in the Czech Republic.
In a statement after Thursday’s meeting in Prague, the ministry said that EMH had agreed to sign an additional clause over a previously agreed memorandum on lithium mining.
The memorandum blew up as one of the major issues in October’s parliamentary elections with ANO leader Andrej Babiš accusing Social Democrat leaders of betraying the company by selling off its mineral assets cheaply.
The memorandum covered the Australian company’s plans for extracting lithium in the far north of the country near the German border at Cínovec where reserves are believed to be among the biggest in Europe. Lithium is used for batteries in electric cars and other applications related to renewable energy.