Cornish Metals raises £8m as investors back quest for UK battery materials

by John Shepherd
CEO Richard Williams. Photo: Cornish Metals
UK mining company Cornish Metals has raised more than £8m from investors as it gets set to float on London's junior AIM market.

CEO Richard Williams said the move was a boost for the company’s goal of expanding domestic materials supply for the battery and technology sectors.

"The support from UK investors has been extremely encouraging and reinforces our belief that exposure to the UK investment community by listing on AIM is an important milestone,” Williams said.

"We are pleased to get to work on our projects in Cornwall and look forward to working with all stakeholders as we look to contribute to the UK’s desire to achieve a carbon neutral economy and expand the domestic supply of materials important to the battery and technology sectors.”

Exploration licences

AIM (Alternative Investment Market) is a sub-market of the London Stock Exchange, which is designed to help smaller companies access capital from the public market.

Cornish Metals, an associate company of Canadian mining giant Osisko, is focused on its mineral projects in Cornwall. Its flagship projects include the United Downs copper-tin project and the South Crofty tin project. In addition, the company holds 15,000 hectares in exploration licences across the county.

The company has exposure to Cornwall’s lithium and geothermal potential through an agreement with UK mineral explorer and developer Cornish Lithium – which has the right to explore for lithium in brines and associated geothermal energy on all mineral rights owned by Cornish Metals.

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