British Lithium and French mining firm, Imerys, have announced a joint venture to mine lithium in Cornwall, in what could be a game-changer for domestic electric vehicle battery supply.
The deal – which would be a significant boost to the UK’s mining sector – could see up to 20,000 tonnes of lithium carbonate being mined per year by the time production is fully up to speed by the end of the decade.
This level of extraction would produce enough lithium to make batteries for 500,000 cars annually, and the mine is predicted to have a lifespan of at least 30 years.
The agreement intends to create what is being described as “the first fully integrated regional electrical vehicle value chain.”
This could satisfy around two-thirds of Britain’s estimated battery demand by 2030, when all UK car manufacturers convert to electric vehicles as part of the government’s roadmap to net zero plans.
British Lithium said the move will reduce the UK and European dependence on critical raw materials imports, and contribute to European and British climate change targets.
Business and trade secretary, Kemi Badenoch, said the venture will “strengthen our domestic supply of critical minerals,” which is “vitally important” as the UK seeks to advance its manufacturing industry.
She added: “This partnership shows once again that the UK remains an attractive destination for international investment. It will boost economic prosperity, support green industries, and bolster our energy security – not only in Cornwall, but right across the UK.”
Roderick Smith, chairman of British Lithium, said: “After working closely with Imerys several years, the directors, shareholders, and staff of British Lithium are delighted to formalise their partnership with Imerys.”
He added: “We are confident that this alignment of interests will propel us toward continued rapid progress. This marks a key milestone for British Lithium, Imerys, and the entire lithium battery industry, as they embark on a journey to establish a sustainable future for lithium production in the United Kingdom.’
Source: Supply Management