20 Jan Cornish Lithium aims to revive UK mining hub
Private company Cornish Lithium has reached an agreement with Canada’s Strongbow Exploration (TSX-V:SBW) to explore for lithium in the south west of the UK.
Lithium is known to exist underground in hot salty springs in the Cornwall region, but has only until now been considered as a business opportunity due to increasing demand in the element.
Lithium is a major component in batteries for electric cars, a market which is becoming increasingly popular.
Cornish Lithium was founded in 2016 by Jeremy Wrathall for the sole purpose of exploring and extracting the lithium from the area.
Wrathall holds the position of chief executive for Cornish Lithium, and said: “We believe the potential benefits of developing a lithium industry in Cornwall will be significant for the county and for the UK as a whole.”
The company believes that the project is the largest single unified mineral exploration programme in Cornwall’s history.