Costa says there can be no hesitation in lithium research in Portugal

Prime Minister Antonio Costa said on Tuesday there could be no hesitation in using lithium existing in Portugal, taking advantage of the fact that the country has the largest lithium reserves in Europe.

“For the first time, we have a natural resource that is key to the energy transition, where we actually have the largest reserves in Europe, namely lithium, and so the country can have no concern, can have no doubt, can have no hesitation in what we really necessary to be able to use the lithium that we have in Portugal,” emphasized António Costa.

The CEO spoke at the Toyota Caetano plant in Ovar, Aveiro district, during the presentation of the Japanese brand’s prototype electric car, developed specifically for the 2024 Olympic and Paralympic Games in Paris.

The outgoing prime minister said decarbonization in Portugal is a “huge opportunity to harness and develop the country’s economic potential,” noting that lithium use should span mining, oil refining and battery factories.

“We have all the potential in Portugal. If no one has any hesitation or fear to move forward, we can do mining, processing and we will still have lithium battery factories,” said a government official.

Costa also mentioned green hydrogen, another decarbonization solution, saying the country has “tremendous competitiveness” in the fuel to not only supply the national industry but also increase exports of green hydrogen. become an energy exporting country.

“Lithium exists to be explored and appreciated. Green hydrogen is a huge production opportunity for domestic consumption and export and hence we must invest there,” he said, adding that the country has everything to be able to invest in these areas. energy and mobility, “as long as there is no hesitation in the choice made.”

The chief executive also said the country is at the forefront of the energy transition, adding that thanks to investment in renewable energy, Portugal can have clean energy production costs that are “very competitive on a global scale.”

“Just yesterday the European Commission published a chart of energy prices in different countries. Some rose more, others rose less. The only country where prices clearly fell was Portugal, thanks to the contribution of renewable energy sources,” he said.

Before António Costa, Toyota Caetano Portugal President José Ramos had already called for a hydrogen distribution network and also warned that the country was losing capacity in battery production.

“Europe’s largest lithium reserves are in Portugal and the combination of lithium production with lithium processing and battery production is fundamental because of logistics issues, and we are losing that because other countries are already doing it and we risk losing that opportunity. “, said the businessman.