European Green Transition (EGT), an entity specialising in resources vital for developing an environmental-friendly economy, has reported encouraging findings from its copper tailings recycling endeavour on the Cypriot island. Samples taken from the Limini mine near Polis, on the island’s western side, demonstrably proved the presence of copper and hinted at potential gold indications.
The Limni mine, which ceased operations in 1978 and was subsequently filled with tailings over 10 years ago, has lately been scrutinised for its capability to recover copper from mine waters. EGT confirmed copper presence in 68 water samples taken on the surface, with ramifications of gold also being evident.
Aiden Lavelle, the chief executive, announced planes to advance to further stages of diligence as per their 12-month option agreement. It includes a more in-depth study involving rock and water sampling, along with examining the feasibility for establishing solar projects at the site.
Launched on the London market by serial entrepreneur Cathal Friel in April, EGT amassed a fresh investment of £6.46 million in its initial launch. The firm was introduced with a seed portfolio encompassing three investigative projects; a pair based in Sweden and one in Germany. This portfolio consists of crucial metals like lithium essential for electric vehicle batteries, and rare-earth metals such as dysprosium and terbium used primarily in wind turbine production.