UK company Cornish Lithium is a step closer to developing its lithium prospects in Cornwall, UK, having acquired, with the assistance of King & Wood Mallesons, a licence for key processing technology from ASX-listed listed company Lepidico Ltd.
Cornish Lithium will acquire an exclusive licence to use Lepidico's patented low-cost and low-energy processing technology, as well as additional intellectual property assets, for C$4m.
The company believes that this work will accelerate UK production of battery-quality lithium chemicals for the UK automotive and battery industries. Cornish Lithium believes that the licence to Lepidco's L-max® and LOH-max® technologies will allow development of the low-carbon extraction of lithium from zinnwaldite and polylithionite mica ores. Work so far has indicated the potential of this technology to produce battery-grade lithium in Cornwall without the need for further refining, offering a complete on-site solution.
The KWM team advising Cornish Lithium was led by partners Heath Lewis and Scott Bouvier and supported by Senior Associate Mark Joss.
Commenting on the deal, Heath Lewis said: "The dynamics of the lithium market for emerging producers – global supply and demand, geopolitics and the investor and regulatory scrutiny they bring – mean each deal is truly unique.
"The potential unlocking of mica as a source of lithium makes this transaction rewarding to be a part of."
Further commenting on the Cornish Lithium transaction, Scott Bouvier said: "We see this deal as a great example of how we can combine our intellectual property commercialisation and resource development skills to create a comprehensive commercial outcome for the technology owner and project developer."
