Northern Lithium (NLTH) is advancing its operations in the North East with plans for a £6 million fundraise. The company completed a 30-day lithium brine pump testing programme with yields surpassing expectations. Located in Wolsingham, County Durham, Northern Lithium aims to produce lithium carbonate crucial for electric vehicle batteries.

Lithium Brine Pump Testing Success

The recent tests conducted by Northern Lithium at the North Pennine Orefield demonstrated the potential for long-term lithium extraction. Managing Director Nick Pople highlighted the milestone achieved, showcasing a viable path to commercialisation. The results confirm the feasibility of extracting and reinjecting lithium brine using a pair of nearby boreholes.

Funding Goals to Boost Lithium Production

To further its goals, Northern Lithium plans to raise approximately £6 million. This funding will support its trials and accelerate the commercialisation process. Through Crowdcube, the company offers an opportunity for small investors to become stakeholders, in addition to attracting high net worth individuals.

Strategic Importance for UK Lithium Supply

Automotive experts anticipate a growing need for lithium, with the UK requiring up to 80,000 tonnes of Lithium Carbonate Equivalent annually by 2030. Most existing lithium sources are located outside the UK, including China, South America, and Australia. Northern Lithium is positioned to help the UK meet its lithium demands through innovative extraction methods.

Partnership and Support

The project has received backing from the Automotive Transformation Fund. Julian Hetherington, director of automotive transformation at the Advanced Propulsion Centre UK, praised the progress made, reinforcing the significance of this initiative for the UK’s green growth ambitions.

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