Cornish Lithium, a startup seeking to mine the precious resource in its home county of Cornwall, has secured 53.6 million pounds (67 million dollars) to open its first mine in Britain. Cornish Lithium is also exploring another route that may prove near sustainable. On its website, Cornish Lithium explains that the granite rocks that underlie Cornwall are also rich in lithium and heat and therefore have “significant potential” for lithium-enriched geothermal waters. By also utilising geothermal energy to power this extraction, the company says it could produce zero-carbon lithium. In addition to the institutional investments, Cornish Lithium plans to raise a further £6.9m by selling shares to small shareholders through Crowdcube, focusing on existing investors.

Source: The Guardian August 09, 2023 15:12 UTC