Neptune Energy Germany GmbH (Neptune Energy) has been awarded by the State Office for Geology and Mining the mining permits for lithium and geothermal energy in Altmark in the State of Saxony-Anhalt, Germany. With this development, the company now plans to start the feasibility test for lithium extraction before the end of this year.
The mining permits pertain to an area that largely coincides with the already developed Altmark natural gas field. In the context of natural gas production, Neptune Energy has already collected a lot of knowledge in the site that will help in the production of lithium and geothermal energy.
The Hanover-based company and its predecessor companies has been producing natural gas in the Altmark site for 55 years. The occurrence of lithium in the deep water of the field is already proven, so that no further exploration phase will be needed.
With the laboratory phase of the project completed, Neptune Energy is moving to the pilot project phase very quickly. The demonstration phase is planned for 2026 with full production targeted by 2028.
Neptune Energy has also applied for three additional exploration permits for lithium and geothermal energy from the state office. These news areas border the current approved area and extend beyond the Altmark district of Salzwedel and into the Stendal and Börde districts. Neptune Energy also sees great exploration potential in this region.