Lithium deposit discovered in Cornwall
Australia has 42, 000 tonnes of lithium and its extraction from hard-rock mining of spodumene- an ore that contains high levels of lithium and aluminium, followed by Chile 18, 000 tonnes, China 7, 500 Tonnes, Argentina 6, 400 tonnes. Zimbabwe 1, 600 tonnes, Portugal 1, 200 tonnes. In 2019. The global lithium production according to the US Geological Survey ( USGS), stood at 77, 000 tonnes a19 per cent decline on the previous year as a result of over-production and decreased commodity prices. Continued global exploration efforts have seen global lithium reserves estimates climb to 80 million tonnes, most of which are located in South America’s Lithium triangle an area encompassing parts of Chile, Argentina, and Bolivia.
A Cornish-based company Cornish Lithium announced that it had found in the town of Redruth, Cornwall, lithium a component in electric car batteries, and commercial production could start within the next three to five years and could lead to a string of battery plants being set up in the far south-west of England. So rich were the reserves of tin and copper in the region that one site near the village of Gwennap was once nicknamed “the richest square mile on earth”.
Cornish Lithium was exploring water deep underground Cornwall’s mine workings in search of Lithium and other battery metals have closed its crowdfunding campaign after only three days raising more than £5 million.
Jeremy Wrathall, CEO, and founder of Cornish Lithium said the find could kickstart a renaissance for Cornwall’s traditional industry. “ To be so massively oversubscribed in only three days is an amazing vote of confidence in Cornish Lithium, the team, and our plans for the creation, in Cornwall, of a vital new industry for the UK economy. We think it’s the beginning of a new chapter for Cornwall and the UK, and will bring jobs, prosperity to Cornwall and hopefully, Cornwall will become the battery materials hub for the UK.”
The town’s mayor Deborah Reeve, said Cornish Lithium’s discovery could be a huge boost “ It would be brilliant, not for just this town, but for the whole of Cornwall and I’m amazed at their persistence, commitment, and enthusiasm. They are sure it will work. Let’s hope it will”.