Cornish Lithium funding exceeds £4 million
Start-up mining company Cornish Lithium has raised more than £4 miillion in Crowdcube fundraising - £2.5 million above its original target - and attracted 2,659 investors to date.
Cornish Lithium, founded four years ago, is exploring lithium and other battery metals in Cornwall with the goal of creating a 'Battery Metals Hub' for the UK, whose EV chemical sector is forecasted to be worth £7 billion.
Since the last Crowdcube fundraising in August 2019, the company has:
- drilled two shallow geothermal wells which identified the widespread presence of lithium enriched waters at depths of up to 1100m
- sampled deep geothermal waters from the United Downs Deep Geothermal Project: results indicate some of the world's highest grades of lithium in geothermal waters. The lithium grades and chemistry of the waters are considered 'globally significant' by geological consultants SRK
- secured UK Government funding for a new lithium extraction pilot plant in Cornwall
- drilled 41 shallow boreholes in a former china clay pit near St Austell, demonstrating potential to also extract lithium from granite
Recent government funding accelerates progress to environmentally responsible lithium production, which is essential for transition to a green economy.
Funds raised will be used to continue exploration in the next 12 months and "accelerate the company’s path toward commercial production of lithium," it states.
Unmanned train to allow Vale to reopen iron ore plant
Brazilian miner Vale SA will be able to resume operations at its Timbopeba iron ore dry processing plant in up to two months thanks to the use of an unmanned train, the company said in a statement this week.
Vale - Timbopeba iro ore plant
With the train, Timbopeba will be able to operate at least at 80% of its capacity of 33,000 tonnes of iron ore “fines” per day, reports Reuters.
Vale was forced to shut down the plant in the Alegria mine complex recently after labor authorities in Minas Gerais state banned activities close to the Xingu dam due to concerns of a risk of collapse.
Vale said access by workers and vehicles continues to be suspended in the flood zone of the dam due to the ban even though it remains at emergency level 2, which means there no imminent risk of rupture.
But some workers are allowed entry under strict security precautions and they will get the unmanned train going once it has been tested, which would take between one and two months, the company said.
The unmanned train will travel automatically along 16 kilometers (10 miles) of track operated by a system that can control the speed and activate the brakes, Vale said.
Vale announces first ore at Voisey’s Bay mine extension
Vale has reached the milestone of first ore production at the Reid Brook deposit at the Voisey’s Bay mine expansion project in Northern Labrador, Canada - recognised as the safest mine in Canada.