UK miner Cornish Lithium has received £53m ($67m) of investment to support the development of the UK’s lithium supply chain, mining-technology.com reported.
The investment package came from the UK Infrastructure Bank, US private equity fund the Energy & Minerals Group (EMG) and critical minerals investment company TechMet. The $67m is part of a larger funding package, worth as much as $210m, of potential second-stage financing.
Cornish Lithium will utilise the funding to progress towards the commercial production of lithium. Currently the company aims to produce 8,000 tonnes per year (tpa) of battery grade lithium from its “globally significant” lithium grades in deep geothermal waters.
The company also intends to mine lithium from onshore hard rock formations.
Alex Shishlo for Rough&Polished
