French mining company Imerys has announced its intention to launch the development of “one of the largest” lithium deposits in Europe. It is located in the commune of Beauvoir (Normandy, France) and, according to the company’s calculations, will be capable of producing up to 34,000 tons of lithium hydroxide per year for at least 25 years. Extraction is due to start in 2028.

“This will be one of the largest lithium mining projects in the European Union and, once fully operational, will help equip 700,000 electric vehicles a year with lithium-ion batteries,” Imerys said in a statement .

The European Commission has set a goal for all countries in the bloc to phase out internal combustion engine vehicles by 2035. However, electric car batteries require lithium, which European carmakers buy mainly from China.

“This project … will drastically reduce our lithium import needs and… will contribute to the goal set by the President of the Republic to produce 2 million electric cars in France by 2030,” said Bruno Le Maire, the country’s economy minister.