Lisbon, June 3, 2025 (Lusa) - The José de Mello Group stated on Tuesday that the start-up of the Lifthium project in Estarreja is "under detailed analysis" and that no date has yet been set for its commencement.

“This project has taken longer than we initially expected. We continue to believe that there is significant value here,” said the group's chief executive, Salvador de Mello, at a press conference to present the 2024 results in Lisbon.

The group has already invested €35 million in the project, according to the official.

"If it goes ahead, it is an opportunity to work and participate in the reconfiguration of a very important sector at European level, but we are not yet in a position to make decisions and therefore we are continuing to work on this project," he said.

Salvador de Mello pointed out that the application of electrolysis to lithium at the future plant in Estarreja (Aveiro) will enable "a cleaner industry than the traditional industry in this sector" and more efficient engineering.

Asked what is needed to move forward with the project, he explained that licensing processes are underway for a demonstration plant in Coimbra and that commercial agreements with customers are in place.

"We need to go through these phases, and there will be one last one, which is the financing of the project," he added.

Salvador de Mello said that the Lifthium project is not dependent on national lithium mines and welcomed the European Union's (EU) recognition of its strategic importance.

"It is not a direct allocation of funding, but recognition at the European level allows and strengthens the applications we have been making for both national and European funds to finance this project," he said.

The José de Mello Group's profits fell 14% in 2024 to €81 million.

JO/ADB // ADB.

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