Cornwall鈥檚 British Lithium has struck a deal with global mining firm Imerys which could see the 海角视频鈥檚 first commercial production of the mineral for EV batteries based in The Duchy - potentially creating hundreds of jobs.
Imerys has acquired an 80% stake in a new joint venture forged by the two companies, which will look to establish Cornwall as Britain's 鈥渓eading lithium hub鈥.
The project will benefit from Imerys鈥 existing mining footprint in Cornwall and British Lithium鈥檚 specialist technology and state-of-the-art pilot processing plant in Roche, near St Austell.
British Lithium has been carrying out drilling and exploration on Imerys-owned land in Cornwall since 2017, and the company now says it has developed the means to produce battery-grade lithium carbonate, a key ingredient for powering electric cars.
Announcing the partnership, the companies said they were targeting annual production of 20,000 tonnes of lithium carbonate - enough to equip 500,000 electric cars per year - by the end of the decade.
Imerys and British Lithium estimated the deposit - the largest in the 海角视频 - to be around 161m tonnes of inferred resources with 0.54% confirmed lithium oxide content, which the pair said could be mined for more than 30 years.
The firms said the project had the potential to create at least 300 direct and several hundred indirect jobs, fostering economic growth in Cornwall.
British Lithium鈥檚 chairman Roderick Smith said: 鈥淎fter working closely with Imerys for several years, the directors, shareholders, and staff of British Lithium are delighted to formalise their partnership with Imerys and are confident that this alignment of interests will propel us toward continued rapid progress.
鈥淭his 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."
Imerys chief executive Alessandro Dazza, added: 鈥淭his acquisition is a milestone in Imerys鈥 journey to becoming a key partner in the energy transition. Building on our recent investment in the EMILI Project in France, we are uniquely placed to become a leading supplier of lithium in the 海角视频 and Europe.
鈥淲e look forward to unlocking the joint potential of British Lithium and Imerys to make Cornwall a successful lithium hub, building on its centuries-old mining heritage.鈥
The transaction has been approved by the 海角视频 Government, which has so far contributed more than 拢5m in grants towards British Lithium鈥檚 work.
Business and Trade Secretary Kemi Badenoch said: 鈥淭his joint venture between Imerys and British Lithium will strengthen our domestic supply of critical minerals, which is vitally important as we seek to grow the 海角视频's advanced manufacturing industry and help create the jobs of the future.
鈥淭his partnership shows again that the 海角视频 remains an attractive destination for international investment and will boost economic prosperity, support green industries, and bolster our energy security 鈥 not only in Cornwall, but right across the 海角视频.鈥
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