SolarWorld Receives Prospecting Rights for Lithium

SolarWorld AG is allowed to prospect for lithium in Germany. Sven Morlok, the Saxon state minister for economic affairs, presented the official approval document to Dr.-Ing. E.h. Frank Asbeck, chairman and CEO of SolarWorld AG, at Altenberg-Zinnwald near the German-Czech border.

This means the solar technology group can now start prospecting in the Eastern part of the Erzgebirge mountains for this raw material, which is mainly used in modern batteries for the storage of solar power.

“Saxony’s mining industry does not only have a tradition that goes back a long way but also a promising future. With the worldwide increase in the demand for raw materials, our local resources are becoming lucrative again. If Saxony’s treasures are tapped everyone will benefit because it creates economic growth and jobs,” says Minister Morlok. “This is why I wish SolarWorld the best of luck in their endeavor to prospect for lithium.”

SolarWorld is expecting an increasing demand for lithium. The German solar technology group will investigate the deposits within the next few months in cooperation with the Freiberg University of Mining and Technology (TUBAF). As a university dealing with resources, TUBAF also estimates the reaches of rare mineral resources and performs research into new technologies for lithium-ion batteries.

“With the approval of our prospecting activities in the Eastern part of the Erzgebirge mountains, we have taken the first step towards securing the raw material for the solar power storage of tomorrow,” explained Asbeck. “In a manner of speaking, we are expanding solar value creation in Germany because in lithium batteries final consumers will in future store their home-made solar power for self-consumption. This will make them more independent of the rising prices of utilities.”

The application for the prospecting rights of lithium was filed together with the Freiberg University of Mining and Technology with the Superior Mining Authority of Saxony on Nov. 24, 2010. The Saxony deposits are among the 10 largest lithium deposits worldwide. The alkali metal lithium is used as an anode in the rechargeable lithium-ion batteries that are needed for electric cars, laptops and solar batteries.