19 Jan Investec’s ‘Poldark’ launches firm to hunt for lithium in Cornwall
Cornwall looks set for a mining revival amid plans to tap into huge reserves of precious metal lithium in what could put the UK at the forefront of a potential £70 billion global market.
Digging deep: Cornish Lithium has secured the rights to hunt for lithium in Cornwall where the show Poldark is set ( BBC )
Investec’s head of mining is hoping to be the City’s very own Poldark as he picked up his spade for the most ambitious exploration programme in the long history of Cornwall’s mining industry.
Cornish Lithium, a private company run by Investec’s Jeremy Wrathall, has secured the rights to hunt for lithium, which is used to power electric cars.
Lithium’s presence in Cornwall’s underground hot spring brines has been known since the middle of the 18th century, when the hit BBC television show is set, but there was no market for the metal at the time.
“This is going to be the largest exploration effort ever done in Cornwall. It’s a historic day.”
“Post-Brexit, it’s vitally important we start a new industry in the UK,” said Wrathall, who is looking for deals with car companies such as Jaguar Land Rover.
Wrathall, who is looking for £5 million in funding, added: “We have now sewn up by far the biggest portfolio of rights to explore than anyone’s ever done [and] yes, I have been watching Poldark.”
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