Critical Metals Corp (CRML) is experiencing a notable rise in its stock price following the announcement that the company will not require an Environmental Impact Assessment (EIA) for its Wolfsberg Lithium Project in Austria. This decision, communicated by the Carinthian state government, marks a significant milestone for the project, allowing it to proceed without the delays typically associated with such assessments. The Wolfsberg Project is positioned to become a key player in the European battery supply chain, and the absence of an EIA requirement is expected to expedite the project's development and financing efforts. This development is seen as a strategic advantage for Critical Metals Corp, as it paves the way for faster commercial approval and production of lithium, a critical component for electromobility in Europe.
The stock of Critical Metals Corp is currently trading at $7.00, reflecting a 5.58% increase from its previous close of $6.63. The stock opened at $6.53 and has seen a 7.2% rise from the opening price.