Carbon conscious mining company, Snow Lake Lithium, has announced that it expects to produce enough lithium from its operations to manufacture 5 million electric car batteries over 10 years beginning in 2025.
The NASDAQ listed Canadian firm is developing the world’s first all-electric lithium mine to enable domestic supply of the critical resource to the North American electric vehicle industry.
“Local sourcing of critical raw materials, such as lithium, is the only logical step to create a vertically integrated domestic supply chain,” said Philip Gross, CEO of Snow Lake Lithium.
The company believes it is ideally located to serve the North American automotive industry with access to the US rail network, which reduces transportation from thousands of miles by road and boat to just several hundred by train.
“Snow Lake Lithium has access to a rich lithium resource and is on the doorstep of North American manufacturers,” Gross added. “This is enough lithium to power 500,000 electric vehicles a year produced in North America, which would significantly reduce logistics and emissions that would be created by importing raw materials from China.”
To enable the seamless integration of the supply chain, the company plans to establish a joint venture to create a lithium hydroxide processing plant and is seeking a partnership with an automotive OEM or a battery manufacturer for its delivery.
While the proposed plant will be located in Centre Port Canada in Southern Manitoba, a study is underway to identify the most effective approach to deliver a world-class lithium hydroxide plant within the Manitoba Province.
The company said it will continue its engineering evaluation and drilling programme across its site, with the expectation that mining operations will transition to commercial production targeted for 2025.