Cornish Lithium secures additional $11m for UK project

TechMet’s decision to further invest in Cornish Lithium follows a comprehensive review of the miner’s Trelavour scoping study, which outlines the design and economics of the namesake project based on the production of battery-grade lithium hydroxide. .

Cornish Lithium said the investment will allow it to accelerate the construction of a demonstration plant for lithium processing, a feasibility study for its Trelavour project and conduct additional drilling.

The Trelavour hard rock lithium project consists of an open pit lithium-enriched granite mine and processing facilities that will produce a lithium mica concentrate. The lithium hydroxide will then be produced from the mica concentrate at an industrial site near the mine, Cornish Lithium said.

According to the scoping study, the mine will produce 25 million tonnes per year, with a 20-year lifespan producing an average of 7,800 tonnes of lithium hydroxide per year.

At the right time

The European Union is rebuilding automotive supply chains around battery metals and encouraging the adoption of electric vehicles (EVs).

European Commission Vice-President Maros Sefcovic said that by 2025, large-scale battery factories currently under construction will produce cells to power at least six million electric vehicles.

British carmakers have added pressure – in just three years they will have to source electric car batteries locally, as foreseen in the Brexit free trade agreement signed last year.

Under the agreement, all European trade in cars and parts will continue to be duty-free or quota-free after the end of the Brexit transition period on December 31, as long as they contain enough content sourced from UK or EU factories.

“As the world moves towards electric vehicles, a lithium supply gap is looming, particularly in the UK given the requirement of around 75,000 tonnes of lithium carbonate equivalent by 2035, according to the Faraday Institution, Cornish Lithium intends to position itself as a key player in the supply chains needed to bridge this gap,” said Founder and Managing Director Jeremy Wrathall. in the statement.

Cornish Lithium is simultaneously advancing its United Downs project. It built a geothermal water test site and demonstration plant last year, which are used to test direct lithium extraction (DLE) processing technologies.

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