UK Brags Lithium Find Could 'Replace Oil,' End Reliance On Russia

The UK economy is set to receive a major boost thanks to Cornish Lithium, a British eco-technology company that’s focused on mineral exploration and development of lithium, a basic element for electric car batteries.

Photo Insert: Cornish Lithium executives host Minister for industry Lee Rowley & local MP Steve Double to explain how the company is playing a key role in securing sustainable domestic supply of Lithium and other critical minerals for the UK economy.

Cornish Lithium claims it has discovered a huge source for the element in southwest England. Cornish CEO Jeremy Wrathall believes that with a vital element like lithium being mined in the UK, Britain could successfully cut its reliance on fossil fuels.

Speaking to Antony Ashkenaz of Express.co.uk, he said: “It's speculated that there's going to be an OPEC of minerals, of lithium, and think that's possible. Lithium could become the mineral that replaces the measure of industrial activity just like oil has been. Oil will not disappear at all, because we'd still need it for plastics and all sorts of chemicals. It certainly won't disappear, but lithium will become extremely important economic health globally.”

With Russia supplying a major part of Europe’s natural gas, becoming a major hub of electrical batteries could ensure that the UK is able to replace Russian natural gas as an energy source.

Wrathall also believes that the presence of lithium in Cornwall means that the UK will not be forced to rely on China, which currently has a massive influence on the electric batteries industry. He said: “If we didn't have any lithium in the UK, we would be wholly reliant on imports.”

“Given that China controls roughly 80 percent of the battery chemicals market, we would be dependent on imports from China or elsewhere. Therefore it is very difficult for the automotive industry to flourish under that scenario. This is why it is hugely important that if we have the right geology, and we do, we seek to try and evaluate whether we can develop that into a commercially viable lithium industry,” Wrathall stressed.

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