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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff Banking correspondent

Two years and £45m of taxpayer cash: the steady launch of state bank UKIB

Jeremy Wrathall, the founder of Cornish Lithium, talks to employees on one of its sites.
A site owned by Cornish Lithium, which has received a £24m investment from the UK Infrastructure Bank. Photograph: Jonny Weeks/The Guardian

It is not every day that the former boss of HSBC is found trudging through the mud of a Cornish mining site. But this was a special occasion.

On an overcast day in early August, John Flint, now head of the UK Infrastructure Bank (UKIB), descended on Trelavour Downs in black wellies and a hi-vis jacket, alongside the Treasury minister Andrew Griffith, to mark the government-owned bank’s £24m investment in Cornish Lithium: the company hoping to jump-start a local lithium supply chain for electric vehicles and the wider renewable energy sector.

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