Millstone&Co bought a share of Australian public company European Lithium (EUR:AU) and invited it to explore rare metals on Shevchenkivske and Dobra lithium deposits in Ukraine.
Within five years Millstone&Co will be investing AUD 90 mio into the capital of the company and Michael Zhernov, the managing partner of Millstone&Co, will be included into the European Lithium board of directors.
Inclusion of the Ukrainian lithium deposits into Australian company deposit Wolfsberg in Carinthia (Austria) can make EUR one of the top lithium producers in Europe.
According to Millstone&Co managing partner Michael Zhernov the synergy of EUR and Millstone&Co expertise will allow to increase efficiency of lithium production in Europe.
European Lithium (EUR:AU) is a listed (ASX) mining exploration and development company. It focuses on its wholly owned lithium deposit in Austria. The capitalization of the company is AUD 196.320 mio.