France invests in lithium project
Banque des Territoires is investing in the Imerys EMILI project to progress transport decarbonisation plans.
The reported €50mln investment on behalf of the French government is intended to finalise the project’s definitive feasibility study, scheduled for early 2027.
The project aims to extract and process lithium from the Beauvoir deposit in Allier, France.
Beauvoir is one of the five largest hard-rock lithium deposits in the world.
EMILI is reportedly designed according to the highest standards of responsible mining, and aims to supply enough lithium for approximately 700,000 electric vehicles per year.
The feasibility study is necessary before any final investment decisions can be made with regards to the future lithium production site in Allier.
Banque des Territoires is acting as the operator of the ‘critical metals’ component of the France 2030 investment plan. Imerys and the French State plan to collaborate closely within the framework of their strategic partnership.
The partnership confirms the EMILI project’s central role in a French and European value chain for vehicle electrification.
It will meet growing demand from local automakers and battery manufacturers by producing local, responsible and lower-carbon lithium.
It also aligns with the minimum European local content requirements requested by European lithium stakeholders. Submitted jointly by all stakeholders to the President of the European Commission, the request calls for 20% local content by 2030 and 40% by 2036.
