France will invest €50 million in a minority stake in Imerys’ flagship Emili lithium project, marking a significant step in the country’s strategy to secure domestic battery raw materials.
The investment, announced on Wednesday, will support feasibility studies ahead of a final investment decision. Production is currently targeted for 2030. Imerys CEO Alessandro Dazza said additional investors are expected to join the project as financing discussions progress.
First unveiled in 2022, the Emili project aims to produce 34,000 tonnes of lithium hydroxide annually, enough to supply batteries for around 700,000 electric vehicles each year. The project involves developing an underground lithium mine beneath an existing kaolin site in central France, alongside a dedicated processing facility.
Imerys has revised its total project cost estimate upward to €1.8 billion from an initial €1 billion forecast. However, Dazza indicated the final capital requirement is likely to come in significantly below the updated estimate.
While the company may not retain a majority stake once new investors enter, Dazza stated that Imerys considers itself the natural operator of the future mine.
The production timeline was pushed back from 2028 to 2030, partly due to public debate surrounding environmental concerns. The project is widely seen as a cornerstone of France’s efforts to reduce reliance on imported lithium and strengthen Europe’s battery supply chain.
