Critical metals corp. receives bmw pre-payment for the wolfsberg lithium project
New york, june 05, 2024 (globe newswire) -- critical metals corp. (nasdaq: crml) (“critical metals corp”), a leading mining development company focused on critical metals and minerals for the green energy transition, today announced that bayerische motoren werkte aktiengesellschaft (bmw) has transferred funds of us$15 million to ecm lithium at gmbh (ecm), a wholly owned subsidiary of critical metals corp. this payment is in relation to the offtake of battery grade lithium hydroxide (lioh) from the wolfsberg lithium project in austria which is to be offset against lithium hydroxide delivered to bmw. “we are pleased to move our partnership with bmw forward and look forward to supporting the production of their electric vehicles in europe in the years to come, contributing to a more sustainable and domestic battery supply chain,” said tony sage, ceo and executive chairman of critical metals corp. “this pre-payment further strengthens our balance sheet and will allow us to further advance our development strategy.
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