Thursday, November 21, 2024
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Imerys acquires 80% of British Lithium

Global mineral solutions firm Imerys has purchased an 80% stake in British Lithium in a deal which sees Imerys’ expertise in mining, infrastructure, R&D, and lithium mineral resources, combine with British Lithium’s bespoke technology and lithium pilot plant, which recently produced battery-grade lithium carbonate.

Since 2017, British Lithium has carried out drilling and exploration on Imerys-owned land in Cornwall, and developed a unique process and pilot plant to produce battery-grade lithium carbonate.

It also received financial support from Innovate UK and the Automotive Transformation Fund, which supports the electrification of vehicles and their supply chains in the UK.

Following further drilling and resource definition, it could provide enough to potentially equip 500,000 electrical vehicles per year by the end of the decade – two-thirds of Britain’s estimated battery demand by this date.

The partnership also benefit from Imerys’ existing mining footprint in Cornwall, as well as its lithium expertise developed through its EMILI project in France.

Alongside the EMILI project in France, the deal make me Imerys the largest integrated lithium producer in Europe, representing more than 20% of the announced European lithium output by 2030.

Business and Trade Secretary Kemi Badenoch said: “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.

This partnership shows again that the UK remains an attractive destination for international investment and will boost economic prosperity, support green industries, and bolster our energy security – not only in Cornwall, but right across the UK.”

Alessandro Dazza, CEO of Imerys, said: “This acquisition is a milestone in Imerys’ journey to becoming a key partner in the energy transition. Building on our recent investment in the EMILI Project in France, we are uniquely placed to become a leading supplier of lithium in the UK and Europe. We look forward to unlocking the joint potential of British Lithium and Imerys to make Cornwall a successful lithium hub, building on its centuries-old mining heritage.”

Roderick Smith, Chairman of British Lithium, said: “After working closely with Imerys several years, the Directors, shareholders, and staff of British Lithium are delighted to formalize their partnership with Imerys and are confident that this alignment of interests will propel us toward continued rapid progress. This marks a key milestone for British Lithium, Imerys, and the entire lithium battery industry, as they embark on a journey to establish a sustainable future for lithium production in the United Kingdom.”

Image courtesy of Imerys

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