A primary cell having an anode comprising lithium or lithium alloy and a cathode comprising iron disulfide (FeS2) and carbon particles. The electrolyte comprises a lithium salt preferably lithium iodide (LiI) dissolved in an organic solvent mixture. The solvent mixture preferably comprises dioxolane and dimethoxyethane. The electrolyte typically contains between about 100 and 2000 parts by weight water per million parts by weight (ppm) electrolyte therein. The anode may be lithium metal or preferably is a lithium alloy. A cathode slurry is prepared comprising iron disulfide powder, carbon, binder, and a liquid solvent. The mixture is coated onto a conductive substrate and solvent evaporated leaving a dry cathode coating on the substrate. The anode and cathode can be spirally wound with separator therebetween and inserted into the cell casing with electrolyte then added.