{"id":30632,"date":"2023-03-02T09:42:23","date_gmt":"2023-03-02T09:42:23","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=30632"},"modified":"2023-05-12T13:28:01","modified_gmt":"2023-05-12T12:28:01","slug":"potential-canadas-lithium-brine-industry","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/potential-canadas-lithium-brine-industry\/30632\/","title":{"rendered":"The potential of Canada\u2019s lithium brine industry"},"content":{"rendered":"
Demand for lithium is rising globally, being used in rechargeable batteries for everyday technologies such as laptops and mobile phones, and clean energy technologies like electric vehicles and grid storage. As the demand for lithium-ion batteries continues to grow, global exploration for the commodity is also simultaneously increasing.<\/p>\n
Canada has an estimated 2.9 million tonnes of lithium resources, measured and indicated, inclusive of reserves, according to Natural Resources Canada, equivalent to 2.5% of reserves worldwide. This is a small drop in the ocean compared to lithium powerhouses, Argentina, Chile, and Australia, that account for more than half of the world\u2019s lithium.<\/p>\n
However, the country has more lithium potential than what appears on the surface, as it is often argued that USGS reports fail to capture the lithium that lies in the ground in their definition of lithium reserves. As technology and processes are advanced, lithium brines in Western Canada can potentially increase these resources in a sustainable way.<\/p>\n
With the exclusion of brine-produced lithium from Canada\u2019s Critical Minerals Exploration Tax Credit, and brine exploration not eligible for flow-through shares, there are still issues that must be overcome for this option to be a practical source of lithium for the country, however.<\/p>\n
To find out more about Canada\u2019s lithium brine industry, The Innovation Platform<\/em> spoke to some of the key major players in the industry, on behalf of the Battery Metals Association of Canada<\/a>.<\/p>\n Currently, transportation emissions account for 24% of Canada\u2019s total emissions, and these must be curbed in order for net zero targets to be hit. Lithium-ion batteries are the leading source of energy for EVs, and because of this, lithium extraction is required to support the rising demand for EV batteries.<\/p>\n With identified resources of 2.9 million tonnes of lithium carbonate equivalent, Canada has the potential to produce lithium, despite these resources being a small portion compared to those around the globe. This underrepresentation is changing as exploration and development has ramped up significantly in recent years.<\/p>\n Lithium exploration in the country will continue to increase as lithium is now at the forefront of the energy transition. These underrepresented reserves and resources are, therefore, being identified and subsequently increasing the global outlook of Canada on the world stage in the next decade.<\/p>\n With demand on the rise, lithium brines have skyrocketed in potential, which are abundant in Western Canada. Extracting lithium from brines in lithium-rich formations can raise Canada\u2019s profile in the lithium sector.<\/p>\n With Canada\u2019s well-developed oil and gas industry, a big percentage of the local workforce understands some of the processes required to extract lithium from brine, for example, drilling wells and installing pipelines. As far as exploration goes for developing a well network for lithium brine extraction, the workforce will be able to directly transfer over.<\/p>\n Canada\u2019s oil and gas industry places the country at a significant advantage due to its high regulatory compliance. As auto manufacturers increasingly focus on environmental, governmental, and social principles, the industry will focus on countries like Canada for its lithium resources due to its strong regulatory policy both provincially and federally.<\/p>\n Generally, Canada\u2019s political landscape is considered to be favourable for bringing lithium and other critical minerals on stream in the next three to five years.<\/p>\n In conversation with The Innovation Platform<\/em>, Chris Doornbos, President, CEO and Director of E3 Lithium<\/a>, highlighted these advantages, stating: \u201cLooking at the broader landscape of the industry, there has rarely been this ability to find funding from the government to develop a critical mineral project as there is today.\u201d Exploration companies can apply for funding from the Canadian Government to bolster the country\u2019s production of critical minerals to help Canada be a major player in the global electrification revolution.<\/p>\nCanada\u2019s potential to produce lithium from brine<\/h3>\n
Canada\u2019s promising policies for lithium extraction<\/h3>\n