Lithium firm secures initial £53m from investors

A lithium mining firm has secured an initial investment of more than £53m to strengthen the UK lithium supply chain, its bosses and the government have confirmed.

Cornish Lithium (CL) said the UK Infrastructure Bank was leading the funding package in its first direct equity investment.

Other investors include the Energy & Minerals Group (EMG) and CL’s largest existing institutional shareholder, TechMet, it added.

The government said the funding would "support the development of the UK’s critical minerals supply chain and will accelerate growth towards the commercial production of lithium, vital for the UK’s transition to net-zero".