Cornish Lithium Could Be Worth £3.8bn to Cornwall

Cornwall’s lithium ambitions now come with a number attached, and it runs into the billions.

A new independent economic assessment says Cornish Lithium’s proposed projects could add £3.8bn to the Cornish economy over the next 25 years, alongside hundreds of jobs that would pay well above what most people in the county currently earn. The report was produced by Public First and commissioned by the company itself.

What the report says

The £3.8bn figure is measured in Gross Value Added, an economic metric for the value of goods and services produced in an area. It is worked out by taking total output and subtracting the cost of the materials and inputs used to make it.

The assessment covers three strands of work. There is the Trelavour Lithium Project at St Dennis, near St Austell, the Cross Lanes Geothermal Lithium Project at Chacewater, near Truro, and a target of eight further potential geothermal sites. Together, Public First estimates these could create and sustain more than 700 jobs in Cornwall across the 25-year period.

There is a wider national figure too. The same analysis predicts £5bn in GVA for the UK economy and more than 1,000 jobs created and sustained by the company’s projects. That £5bn estimate is a sharp rise from an earlier projection of around £800m, which the company puts down to updated modelling, a larger project scope and the completion of the Trelavour feasibility study.

The jobs

Of the 700-plus roles, 400 would be long-term, highly-paid positions at Cornish Lithium, open to graduates as well as people who go through apprenticeships and other vocational training.

The pay is the headline here. The report anticipates that 98% of Cornish Lithium employees would earn more than the current Cornish median salary of £28,210, with 71% landing in the top third of local earners.

New roles would run across mining and minerals operations, from plant and process operators, maintenance and mechanical engineers and laboratory technicians through to environmental and health and safety specialists, logistics coordinators and site supervisors.

The company also makes a point about who these jobs are for. It says 80% of them would be open to people previously shut out of well-paid, skilled work in Cornwall because they chose vocational training over a degree. Those roles would still pay above the Cornish median and put workers in the top third of local earners. The aim, according to the report, is to shift the local economy away from low-paid, seasonal work and towards higher wages and more secure employment.

Beyond the company’s own payroll, Cornish Lithium reckons it could support more than 600 jobs a year in local and national supply chains, covering chemicals supply, construction, logistics, manufacturing, maintenance, specialist equipment production and transport. Money spent by employees would then feed into retail, hospitality, housing and a range of trades and services.

📷Cornish Lithium’s Trelavour Demonstration Plant - Credit: Cornish Lithium

Training and local talent

Getting local people into these jobs sits at the centre of the company’s plans. Cornish Lithium points to its long-standing work with the University of Exeter’s Camborne School of Mines, a partnership with Truro and Penwith College to build a specific technical workforce, and a STEM outreach programme in schools aimed at the next generation.

It also proposes a formal Benefit Sharing Policy, with long-term funds meant to lock in social value as a planned and measurable result of the projects. That policy would support training, scholarships and course development tied to the critical minerals sector, make sure local businesses get a share of project delivery, and put further money into community amenities and the preservation of Cornwall’s industrial heritage.

Lithium, EVs and the national picture

The Trelavour Lithium Project is projected to produce around 10,000 tonnes of battery-grade lithium hydroxide a year over a mine life of at least 20 years. The company frames this as a domestic, responsibly sourced supply that would cut the UK’s reliance on imports from China, Chile and Australia.

Combined with its Lithium in Geothermal Waters projects, Cornish Lithium says its output could meet around 40% of the UK Government’s production target of 50,000 tonnes a year by 2035, the level needed for planned battery capacity, and support the production of up to 760,000 electric vehicles a year. The geothermal work carries an added possibility of providing low-carbon heating for around 29,000 Cornish households.

The report includes an economic multiplier as well. For every £1 of direct value Cornish Lithium generates, it says £1.41 of total economic activity could be created across supply chains and local spending. That sits above the report’s benchmarks for mining (£1.08), construction (£1.14) and scientific research (£1.21). At the Trelavour project specifically, the multiplier rises to £1.75.

What the company and the MP say

Jamie Airnes, CEO of Cornish Lithium, said: “Our projects could have a transformational impact on Cornwall’s existing job market as well as the career prospects of the next generation and, through supply chain engagement, benefit a broad spectrum of local and regional businesses.”

Jamie added: “With more than 700 highly-paid jobs anticipated locally and almost 85% of the supply chain spend expected to be retained in the south west, this report highlights the scale of the potential for Cornwall and the wider region as well as national industry.

“Cornwall has one of the largest lithium resources in Europe, along with the technology, skills and expertise needed to develop it responsibly, and the Government has recognised this opportunity. We have engaged with our local communities, tailored our plans in response to feedback and are ready to progress our fully costed, drill-tested, independently verified Trelavour Lithium Project to commercial production, subject to planning permission. We look forward to continuing to work with residents, businesses and politicians to bring this and our Lithium in Geothermal Waters projects to fruition, for the benefit of Cornwall and the UK as a whole.”

Noah Law, MP for St Austell and Newquay, whose constituency includes the Trelavour project, said: “There is, quite simply, no other growth industry in Cornwall that we can say is worth a couple of hundred million today but could credibly be worth north of a billion pounds in just a few years.

“That’s why it’s vital that we act now to secure this industry for Cornwall and ensure local people have the fullest stake possible in its spoils, across local infrastructure and skills development, job creation, and public and local ownership opportunities.”

What happens next

The Secretary of State for Housing, Communities and Local Government has decided that the Trelavour Lithium Project will be treated as a project of national significance. That means the company will apply for planning permission through a Development Consent Order under the Planning Act 2008, with the application due in late summer 2026 after statutory and non-statutory consultations with local communities and other stakeholders.

Founded in 2016, Cornish Lithium already employs more than 100 people across three sites at St Dennis, United Downs and Penryn. More on the company is at cornishlithium.com.

📷Cornish Lithium’s Trelavour Lithium Project - Credit: Cornish Lithium