Imerys Mothballs UK Lithium Mining Project on Funding Woes

French metals and mining firm Imerys SA will mothball a lithium project in southern England due to funding constraints and tough market conditions for the key battery metal.

The company took an 80% stake in the British Lithium mining project in Cornwall in 2023, providing a shot in the arm to the country’s nascent lithium sector as rival projects faced major funding headwinds. It said at the time the mine would eventually meet two-thirds of the UK’s lithium demand, with costs likely to run into hundreds of millions of euros.