Funding boost sparks Cornish mining drive

Cornwall’s mining revival received a boost yesterday after the firm behind plans to tap into huge reserves of lithium in the county raised £1 million in funding.

Mining company Cornish Lithium said the cash injection will allow it to explore the coastal region as the demand for the precious metal soars.

Lithium – dubbed “white petroleum” – is used in the rapidly growing market for electric cars and rechargeable batteries in everything from mobile phones to cordless vacuums in a market estimated to be worth up to £70bn.

Cornish Lithium said: “The funds raised will enable the company to commence exploration activities in Cornwall.

“The initial focus will be to collate all relevant data on lithium occurrences in Cornwall and to assemble this in digital format. The company intends to integrate surface and underground data in order to prioritise the best locations for subsequent drilling and sampling.”