Germany discovers major lithium deposit with potential billions in economic value

A large lithium deposit has been discovered in Germany, which could bring the country billions of euros, the global energy firm Neptune Energy stated on October 18.

The deposit is located in the Altmark region of Saxony-Anhalt, and the company described it as a potential “game-changer” for Germany’s automotive industry, Bild reports.

According to Neptune Energy, the site contains approximately 43 million tons of lithium carbonate equivalent, potentially making it the largest planned lithium project in the world.

If the company’s technology is successfully applied, preliminary estimates suggest that by 2042, the project could generate a gross added value of €6.4 billion for Germany and create up to 1,500 jobs, the report said.

However, the financing phase is scheduled to start only in 2033, pending all necessary approvals, according to Bild.

By Khagan Isayev