Analysts expect supply deficit to develop as countries race to meet climate targets
Cornwall’s mines once helped power Britain’s industrial revolution, before most shut down in a region that is now one of the poorest in the UK. But several companies are now hoping the area of south-western England can mount a revival and capitalise on what is expected to be a global scramble for a metal that will be key to the energy transition: lithium.
Cornish Lithium — which wants the government to set a target for domestic production of 50,000 tonnes per year — hopes to jump-start UK production by extracting lithium from granite and from the underground brines that run between cracks in the rocks in Cornwall. The company, which reported an £8.6mn loss last year, is aiming to produce 25,000 tonnes a year by 2030, enough to supply more than 500,000 electric cars.
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