Cornish Lithium has been granted rights to explore for lithium within geothermal waters in areas off both the north and south coasts of Cornwall.
The grant of rights means that Cornish Lithium can now begin its desk-based exploration programme, to start to identify potential geological targets for later research. Physical exploration works are not anticipated for at least four years, following the appropriate desk studies, design works and extensive consultation.
While exploration work for lithium in geothermal waters is at an early stage, lithium extraction has significant potential to create new revenue and jobs within a new industry for the benefit of Cornwall.
Lithium is a key component of lithium-ion batteries used for electric vehicles and renewable energy power storage, and as such, has a valuable role to play in helping the UK to meet its ambitious climate change targets.
Jeremy Wrathall, CEO and founder of Cornish Lithium, said: “Minerals are going to play a key part in the transition to net zero emissions and a decarbonised economy. Lithium exploration in the UK is strategically important for our ability to meet the ambitious climate change targets set out by the UK Government.
“Our exploration work across Cornwall has indicated that the geological structures containing lithium-enriched geothermal waters continue offshore, and we are therefore delighted to have secured rights to explore these structures in areas owned by The Crown Estate.
“The opportunity to produce lithium from geothermal waters in Cornwall, using a low impact and environmentally-responsible process, offers great potential for the establishment of a new industry in Cornwall. Having undergone a rigorous tender process, we are delighted to be working closely with The Crown Estate going forward as we start our desk-based exploration phase and apply knowledge gained from onshore exploration activities to these new licenses.”