Critical Metals (CRML) said Monday that it has received a notice from the Carinthian state government that an environmental impact assessment is not required for its proposed Wolfsberg Lithium Project in Austria.

The decision not to carry out an assessment is expected to have a positive effect on the next stage of financing for the project, the company said.

The waiver covers the entire project including planned underground mining, the surface mining facility for the production of a spodumene concentrate, energy supply lines and necessary clearance, and the refilling of empty chambers with surplus mining material.

The company described the notice as a step toward realizing the project and establishing a European battery supply chain.

"This decree makes the Wolfsberg Project the first new mining project within the EU that is able to pave the way into the fast-track approval process for new mining projects in the critical minerals sector," said Critical Metals Chief Executive and Chairman Tony Sage.