Saturday, March 25, 2023

Lithium mine in Canada to become world’s first all-electric lithium mine

Snow Lake Lithium plans to launch the world’s first fully electric lithium mine in Canada. For this, almost 100% of the energy should come from renewable sources.

Nadak Company Snow Lake Lithium Wants to start an all-electric lithium mine in northern Manitoba, Canada. This will be the first lithium mine in the world to run entirely on electricity. Snow Lake Lithium CEO Philip Gross says about 100 percent of the energy needed for this will come from renewable sources and will be generated from hydroelectric power.

“We aim to be the first fully integrated, climate-neutral lithium hydroxide supplier in the North American electric car industry. We are developing the world’s first fully electric lithium mine powered by renewable energy.”

Lithium mine: 160,000 tons of lithium per year;

Snow Lake Lithium is estimated to scoop up 160,000 tons of lithium metal spodumene annually. These should go primarily to electric car manufacturers in the United States. Manitoba’s location is strategically very favorable for this. It is only a few hundred kilometers by train to the north of the United States, where major carmakers such as General Motors and Ford are based.

Lithium Mine, Snow Lake Lithium, Electric Car

This is how Snow Lake envisions the lithium value chain. (Photo: Company)

As not only the car manufacturers themselves, but also Canada and the USA seek to promote the expansion of electric vehicles, this element will become even more important as a central component of lithium-ion batteries in electric vehicles in the future.

So far, the substance has mainly been imported from China, Australia and South America. Snow Lake Lithium says that thus a North American lithium mine would guarantee the security of supplies in the region.

Lithium is the new gold

Plus, lithium is also a lucrative business for miners like Snow Lake. Lithium prices have risen sharply in recent years and experts expect this trend to continue in the coming years.

This makes it worthwhile to exploit previously neglected lithium deposits.

Similar development can be seen in Europe as well. There is almost a gold rush mood among mining companies here, even though local populations from England to Portugal to Croatia are opposing the project. Lithium mining is also an issue in Germany.

This is where the Vulcan group seeks to extract lithium hydroxide from thermal water in the Upper Rhine Graben, even in a CO2-neutral way. But there is opposition. For example, a civic initiative has been established in the region that fears the negative impact on people and the environment from deep geothermal energy.

Lithium mine promises jobs

Such protests are not expected in Manitoba. Mining has long been one of the most important employers in the region. However, mining companies are increasingly cutting jobs there as ore deposits dwindle.

In the 4,000-strong town of Flynn Flon, where Snow Lake Lithium wants to start its mine, about 800 people are currently at risk of losing their jobs. Snow Lake can occupy a large part of that. The company promises 500 new jobs. Therefore lithium production will be an important economic factor for the region.

In addition to Snow Lake, other mining companies are also to obtain construction rights to the deposits there.

Commercial production plans from 2024

Whether all the hopes will come true is not clear at the moment. The assays will show whether it is economically viable to mine lithium in Manitoba. But Snow Lake Lithium is reassuring.

So far, only one percent of the area of ​​about 220 square kilometers has been investigated. The company is therefore certain that further measurements will reveal additional lithium deposits.

The mining company is currently looking for a partner for its activities, preferably a car manufacturer or battery manufacturer. Commercial production is scheduled to begin in 2024.

Nation World News Desk
Nation World News Desk
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