Cornish Lithium funding exceeds £4 million

By Dominic Ellis
Founded four years ago, the company is exploring lithium and other battery metals in Cornwall with the goal of creating a 'Battery Metals Hub' for the U...

Start-up mining company Cornish Lithium has raised more than £4 miillion in Crowdcube fundraising - £2.5 million above its original target - and attracted 2,659 investors to date.

Cornish Lithium, founded four years ago, is exploring lithium and other battery metals in Cornwall with the goal of creating a 'Battery Metals Hub' for the UK, whose EV chemical sector is forecasted to be worth £7 billion.

Since the last Crowdcube fundraising in August 2019, the company has:

  • drilled two shallow geothermal wells which identified the widespread presence of lithium enriched waters at depths of up to 1100m
  • sampled deep geothermal waters from the United Downs Deep Geothermal Project: results indicate some of the world's highest grades of lithium in geothermal waters. The lithium grades and chemistry of the waters are considered 'globally significant' by geological consultants SRK
  • secured UK Government funding for a new lithium extraction pilot plant in Cornwall
  • drilled 41 shallow boreholes in a former china clay pit near St Austell, demonstrating potential to also extract lithium from granite

Recent government funding accelerates progress to environmentally responsible lithium production, which is essential for transition to a green economy.

Funds raised will be used to continue exploration in the next 12 months and "accelerate the company’s path toward commercial production of lithium," it states.


Featured Articles

GEM: Non-China Coal Power Sees First Growth Since 2019

Global Energy Monitor 2024 global coal Tracker shows less coal-power capacity was retired in 2023 than for a decade but that trend will be 'short lived'

Biden Ruling 'Threat to US Critical Minerals Mining'

The Essential Minerals Association says Biden's Public Lands Rule is threat to critical minerals mining industry and compromises move to clean energy

Thermo Fisher Scientific Tackling Lithium eco Issue

Thermo Fisher Scientific's Dan Shine, on how the company's sodium battery tech can help reduce the mining of critical minerals like lithium for EVs

EC on Importance of Minerals Security Partnership Forum


EU & US form Critical Minerals Security Partnership Forum


World Gold Council: Gold Miners 'Must Create ESG Value'