French industrial minerals company Imerys announced it is in exclusive negotiations with a potential investor to sell a minority stake in its large-scale lithium mining project in central France, a key development in Europe’s efforts to secure domestic supplies of critical materials for the energy transition.
Chief Financial Officer Sébastien Rouge told reporters on Thursday that the company is confident a deal can be finalized by the end of January 2026, though he declined to disclose the identity of the potential investor. The update came during the presentation of Imerys’ third-quarter results.
Imerys first revealed plans in July to seek a financial and strategic partner for the project, which aims to produce battery-grade lithium to support Europe’s fast-growing electric vehicle industry. Since then, the estimated cost of the mine and processing complex — located near Echassières in France’s Allier department — has risen from €1 billion to €1.8 billion ($2.1 billion), reflecting inflationary pressures, higher energy costs, and expanded project scope.
Once operational, the facility is expected to become one of Europe’s largest sources of lithium, a mineral considered vital for meeting EU goals to reduce dependence on imports from China and bolster the continent’s battery manufacturing capacity.
