October Cornish Mining Sundowner- more good news on lithium

It was a great sundowner last night at Falmouth's Chain Locker, with over 30 in attendance.

I was pleased to see so many Camborne School of Mines first and second year students, mainly engineering geology and mining engineering, and hope that they will become regulars over the next few years.

A couple of weeks ago Geothermal Energy Ltd (GEL) announced that it will invest around £43 million in a new cutting-edge lithium extraction facility at its United Downs site in West Cornwall, using brine from the existing geothermal wells. The investment will create nearly 50 direct jobs and support around 80 more across the supply chain, after receiving an Offer in Principle worth nearly £10 million through the Government’s DRIVE35 Automotive Transformation Fund.

The move comes as demand for lithium is expected to increase by 1,100% by 2035 and will support hundreds of jobs and shore up Britain’s supplies of lithium. This critical mineral is essential for powering electric vehicle batteries, which is why the government has now taken action to unlock nearly £230 million of private investment into two lithium projects in Cornwall and Teesside.

With the UK boasting amazing natural resources, and Cornwall at the centre of one of the most important historic mining regions in both the country and Europe, this investment will help unlock the South West’s industrial potential as part of the Prime Minister’s mission to reindustrialise this country. This builds on Tees Valley Lithium’s £185 million investment to establish one of Europe’s largest lithium refineries in Teesside. This investment will support hundreds of jobs and strengthen the UK’s battery supply chain, following a government Offer in Principle for £18.3 million through DRIVE35.

The investments are made possible by the Government’s Modern Industrial Strategy and represent a major step forward in the UK’s transition to electric vehicles and another strong vote of confidence in Britain’s automotive sector. This is in addition to £1 billion of investment announced already this month from Bentley, McLaren and Nissan.

And more good news: the International Lithium Association has welcomed Cornish Lithium Plc as a new Associate Member. The International Lithium Association is a global network committed to the responsible development of lithium resources.

I hope the next sundowner will be as well supported as last night's.  It will be the last at the Chain Locker until February and will be held on Thursday November 19th, from 5.30pm.

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