European Metals Holdings (ASX: EMH) said that its Cinovec rock lithium project in the Czech Republic was designated a strategic deposit by the Czech government, according to a Friday filing with the Australia bourse.
This designation streamlines the permitting process by expediting approvals, reducing administrative hurdles, and providing priority environmental assessment reviews, as well as the use of special legislative procedures, the filing said.
Shares of the company rose 14% in recent Friday trade.
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