Future Of British Business
France’s Imerys and British Lithium Team Up on UK Mine
- British company is exploring a large deposit in Cornwall
- No financial terms are disclosed in joint-venture deal
Bags of lithium concentrate.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
French metals and mining firm Imerys SA has taken an 80% controlling stake in a joint venture with British Lithium to start producing the battery metal from a UK deposit.
The deal is a shot in the arm for the UK’s nascent lithium industry, where several startups are vying to build new mines and plants but face a tough funding environment. The UK’s Critical Minerals Association this year said UK miners “rarely receive interest or funding from private finance, and government funds don’t provide enough financing to truly aid projects.”