A joint mining venture in Cornwall is hoping to produce enough lithium carbonate to power 500,000 electric vehicles by 2030.
French-based Imerys and British Lithium are planning to work together, with the financial backing of the government, to extract the product from a granite mine on the southwest coast.
"This venture will reduce the UK's and Europe's dependence on critical raw materials imports, thus contributing to the achievement of the European and British climate change targets and the creation of the first fully integrated regional electrical vehicle value chain," the firms said, quoted in Sky News.
Production is slated to begin in late 2028 and is expected to meet roughly 66% of Britain’s battery demand by 2030, the same year that all new cars sold in the UK must be fully electric under government plans.
Imerys added that the joint venture would make it Europe’s top producer of lithium, with Imerys taking an 80% stake in British Lithium to establish the partnership.
“This joint venture between Imerys and British Lithium will strengthen our domestic supply of critical minerals, which is vitally important as we seek to grow the UK's advanced manufacturing industry and help create the jobs of the future,” said Business and Trade Secretary Kemi Badenoch.