This scoping study will enable Cornish Lithium to evaluate process parameters regarding the production of "battery quality" lithium hydroxide at pilot plant scale in Cornwall. Battery quality lithium hydroxide is an essential component of electric vehicle batteries and thus a key requirement for the electrified automotive supply chain in the UK.

In the words of the Volkswagen Group, "lithium is the essential element of the electric era". As the UK transitions to electric vehicles (EVs) to meet the 2050 Net Zero Carbon ambition, demand for lithium-ion batteries will rapidly increase. Lithium was recently added to the EU's "Critical Raw Materials" list based on its economic significance in battery manufacturing and a supply chain reliant on China. The Faraday Institute estimates the UK requires 50,000 - 60,000tpa of lithium carbonate equivalent (LCE) by 2035\. In 2020 the Prime Minister highlighted the strategic importance of investigating the possibility of a secure domestic supply from known deposits in Cornwall. This aligns with Clean Growth and Future of Mobility ambitions of the UK Industrial Strategy. A secure supply of lithium will be value accretive for the UK economy and will reduce reliance on imports.

This feasibility study will comprise design & engineering for mining, mineral processing and hydrometallurgical testwork to technically derisk the construction of a pilot lithium extraction plant, producing low carbon, battery quality lithium hydroxide from a hard rock source in St Austell, Cornwall. This project will expedite Cornish Lithium's ambition to commence commercial production of lithium hydroxide within 3-5 years.

A 1987 report by the British Geological Survey highlighted the lithium potential of the St Austell China Clay Region in Cornwall but no further work was done. Subsequently, lithium has emerged as a vital component of lithium-ion batteries and thus plays an essential part in the transition to a decarbonised economy. It is now considered crucial to the UK economy and the domestic automotive sector that the potential for commercial production of lithium from this source is re-evaluated. This is particularly true given newly developed extraction technologies, such as that developed by Lepidico, for which Cornish Lithium has an exclusive licence in the St Austell region of Cornwall. The licence to the Lepidico extraction technology enables Cornish Lithium to directly produce battery quality lithium hydroxide on site in Cornwall, which is considered a key advantage for the UK economy given the competitive threat of Chinese dominance in lithium battery chemical processing.