PARIS, Feb 11 (Reuters) - The French state will invest 50 million euros ($59.61 million) to acquire a minority stake in Imerys' lithium mine project in France, the minerals group said on Wednesday.
France to invest 50 million euros for stake in Imerys lithium project
France's Investment in Lithium Mining
PARIS, Feb 11 (Reuters) - The French state will invest 50 million euros ($59.61 million) to acquire a minority stake in Imerys' lithium mine project in France, the minerals group said on Wednesday.
Details of the Investment
Imerys had said in late October that it was in exclusive talks with a potential investor to sell a minority stake in the project, called Emili, for which the estimated cost has risen to 1.8 billion euros from 1 billion initially.
Project Overview and Goals
Imerys had announced the project in 2022, with the aim of producing 34,000 tonnes annually of lithium hydroxide to go into the supply chain for electric vehicle batteries. The target for starting production in 2028 was last year pushed back to 2030.
Production Targets
($1 = 0.8389 euros)
(Reporting by Gus Trompiz; Editing by Sudip Kar-Gupta)
