Here’s why the Lithium Australia (ASX:LIT) share price is up 6% in morning trade

The Lithium Australia NL (ASX: LIT) share price is on the run today. This comes after the company announced that it will be reducing its exposure to operating in the European lithium market.

During early-morning trade, the Lithium Australia share price is up 6% to 10.5 cents.

Review of European operations

According to this morning’s release, Lithium Australia has reviewed its exploration activities in Germany.

Since 2017, the company has had its eyes on developing the historic mining areas in the Erzgebirge (Ore Mountains) in Saxony. In that time, Lithium Australia occupied three main areas to take advantage of the growing demand for lithium. These were the Hegelshöhe, Eichight, and Sadisdorf projects – all located along the…