Canadian lithium exploration could help supply the batteries of the future CanadiansInvest
“Western Canada is going to be one of the biggest jurisdictions for lithium on the planet”
Lithium, or white gold, is found in minute quantities in the Earth’s crust. It’s essential in lithium-ion batteries, which are used in electric vehicles and mobile phones. Fortified by a $27-million investment from the Government of Canada’s Innovation, Science and Economic Development’s Strategic Innovation Fund, E3 is collaborating with Imperial Oil to advance an initial lithium pilot project in Alberta.
Annual global electric vehicle production is set to grow from 3.4 million in 2020 to 12.7 million in 2024, says, a data and analytics company. Battery production could grow from 95.3 gigawatt hours to 410.5 gigawatt hours over the same period. As a result, demand for lithium is expected to grow from 47.3 kilotonnes in 2020 to 117.4 kilotonnes in 2024 at a 25.5 per cent compound annual growth rate.
“We’ve been able to put crews on the ground from the local communities,” he said, noting Foremost was awarded a $300,000 Manitoba Mineral Development Fund grant to support exploration.
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