Cornish Lithium prepares to raise fresh funds for mining projects

A start-up planning to mine lithium in Cornwall for electric vehicle batteries is preparing to tap investors for cash at a valuation of more than £80 million and aims to list in London next year.

Cornish Lithium hopes to start producing the key ingredient in electric vehicle batteries as soon as 2025 to provide homegrown supplies for proposed “gigafactories” in Britain.

The company is aiming to capitalise on the spotlight on Cornwall from next week’s G7 Summit by launching a crowdfunding campaign as soon as the following week. This will come after an oversubscribed crowdfunding last October when it raised more than £5 million at a valuation of £40 million.

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