Cornish Lithium has signed an agreement to explore for and develop lithium in hot spring brines on land and mineral rights owned by Tregothnan Estates.
In addition to this, Cornish Lithium will also have the rights to commercially develop other minerals discovered in the exploration process.
Tregothnan Estates has a rich history of mining successes spanning centuries with tin, copper and china clay being supplied from its mineral deposits in Cornwall to markets all over the world.
CEO, Jeremy Wrathall, said: “We are delighted to have reached this agreement with Tregothnan further strengthening our relationship with the team.
“Whilst our current focus remains on lithium, this agreement means that if we discover other minerals, these too can be commercially developed across Tregothnan Estates’ land and mineral rights which have historically been proven to contain significant mineral deposits.
“This is hugely exciting and we look forward to continuing to work with the team at Tregothnan as we progress our exploration efforts.”
Tregothnan’s estates director, Andrew Jarvis, added: “This is a historic deal, the likes of which we have never entered before. We are delighted to be supporting Cornish Lithium in their quest to bring Lithium production to the UK. Equally exciting is the prospect of finding other minerals and metals, which may well be discovered during the exploration process.
“We will be providing Cornish Lithium with unique access to a comprehensive set of mining archives compiled over centuries of mining activity which will give them an unprecedented advantage in locating the best mineralised sites.”
Law firm Foot Anstey advised Tregothnan on the agreement, and partner Simon Gregory said: “Cornwall is the only current known source in the UK for lithium and both Cornish Lithium and Tregothnan are making exciting plans. Developments such as these are key for the Cornish economy and will play an exciting role in the county’s future.