Paris – The French state is set to take a €50 million stake in Imerys' upcoming lithium mine in the Allier department. The move, announced by the Ministry of Economy and Finance, is presented as part of a broader strategy to build a carbon‑free, sovereign supply chain for electric‑vehicle batteries.
Imerys, a global leader in industrial minerals with a 2024 turnover of €3.6 billion and a workforce of more than 12,000, said the funding will be provided through the Banque des Territoires. The money is earmarked for the final feasibility study, scheduled to start in early 2027, a prerequisite before any final investment decision.
CEO Alessandro Dazza told reporters that Imerys is still looking for additional financing partners, though the state will remain a key collaborator. “We’ve always said we can’t do this alone,” he explained.
While Imerys does not require a majority share to run the project, Dazza stressed that the company’s expertise in mineral extraction worldwide positions it to manage the mine efficiently.
The French group recently unveiled a cost‑reduction plan aimed at improving profitability after a slowdown in its core markets during the second quarter. The Allier mine is slated to start production by 2030 and could supply lithium for roughly 700,000 electric cars each year.
Environmental Risks
Government officials argue the project demonstrates France’s commitment to meeting domestic lithium demand with a “21st‑century mine” that adheres to high environmental and social standards. However, NGOs have voiced strong opposition, warning of significant ecological impacts.
Critics claim the state does not sufficiently monitor social or environmental issues, even as a shareholder, and have already filed legal challenges that could further delay the mine’s opening. Industry experts estimate that bringing a new mine to full operation can take 10 to 15 years.
Geopolitical pressures are driving European nations to secure critical raw materials at home, but the Allier project underscores the tension between strategic autonomy and local environmental concerns.