Project Ludwig covers the Ludwig and Therese licences in the Ludwigshafen region. Its PFS integrates deep geothermal brine production and reinjection with VULSORB adsorption DLE, lithium chloride concentration and purification, soda-ash precipitation of lithium carbonate, refining and drying, and renewable heat supply. The 30-year production target uses Indicated resources only; no ore or geothermal reserves have been estimated. Lithium carbonate design capacity is 21,100 tpa, with 517 kt over the project life. Development capex of EUR1,261.1m includes 15% contingency and excludes EUR126.1m owners costs and EUR63.0m closure costs. Post-tax NPV8 of EUR1,727m and 20.2% IRR assume 100% equity, unlevered financing and an assumed 2029 FID valuation date. Real-2026 lithium carbonate prices of EUR20,588/t and operating costs escalate at 2% annually; cash flows use an 8% nominal discount rate. C1 cost is EUR4,101/t lithium carbonate in real 2026 terms, including 10% operating contingency.
- Country
- Germany
- Commodity
- Li
- Stage
- Pre-Feasibility