Last week, Barclays hosted KMX and Cornish Lithium’s management teams for an investor dinner in London to discuss the outlook for U.K. lithium development.
The event included discussions on the lithium macro environment, critical mineral geopolitics, and upcoming company-specific milestones and catalysts for KMX and Cornish Lithium.
KMX is proud to support Cornish Lithium in its efforts to secure sustainable lithium for the U.K.
In this update, I’ll provide key takeaways from the dinner, including:
- Macro Lithium Update
- U.K. Lithium Security and Water Stewardship
- Company-Specific Milestones
Macro Lithium Update
The recent pullback in lithium prices to the $8,000-$10,000 per ton range is expected to revert to $20,000-$25,000 per ton in the coming five years. Underinvestment in lithium projects globally coupled with continued demand growth (albeit at a slower rate) is driving this trend. Cornish Lithium and KMX are well-positioned for this rebound.
Geopolitically, investor attention on Western support for critical mineral supply chains is increasing, particularly following the recent U.S. government support for MP Materials and tariffs on graphite.
As a result, there are expectations that lithium, an increasingly strategic resource, could be the beneficiary of additional U.S. government investment.
U.K. Lithium Security and Water Stewardship
Considering the growing geopolitical concerns and expectations for a lithium price rebound, Cornish Lithium is advocating for the U.K. government to set a target of 50,000 tons per year of lithium carbonate equivalent extraction from domestic sources by 2030.
Further, Cornish Lithium is aiming to enhance national lithium security while improving regional water stewardship.
Southwest England continues to face water scarcity and drought challenges. Utilizing KMX’s proprietary Vacuum Membrane Distillation (VMD) technology, Cornish Lithium is positioned to provide freshwater to Cornwall and help alleviate water stress in the region.
Company-Specific Milestones
Cornish Lithium has received planning permission to build the U.K.’s first lithium production facility (The Cross Lanes Project). Following successful exploration drilling, the Cross Lanes Project will involve drilling two production-diameter wells to 2,000m depth in 2025-2026.
Cornish Lithium intends to deploy a demonstration scale lithium extraction plant onsite to test DLE technology.
KMX aims to support Cornish Lithium by utilizing its VMD technology to maximize lithium concentration and water recovery at Point 4 in the illustration below.
Figure 1: Cornish Lithium Geothermal Brine Development Overview
Source: Cornish Lithium
Up Next
We thank the Barclays team for hosting this insightful event and providing Cornish Lithium and KMX the opportunity to engage with stakeholders interested in the future of U.K. lithium development!
Up next, we hope to provide additional updates on next steps related to KMX’s lithium pilot and support activities for Cornish Lithium.
– Zac
Zachary Sadow
Chairman & CEO
KMX Technologies