Snow Lake Lithium has announced that it expects to be able to produce enough lithium to power 500,000 electric cars per year for the North American market. The Canadian mining company believes it will be able to supply North American automakers with the battery-critical material from 2025 onwards.
Speaking to Auto Futures, CEO Philip Gross said that he was “euphoric” with the news of the production estimate. “As we rapidly transition to electrification, it’s essential for the future of the North American automotive industry that we build a rock-to-road battery supply chain,” he added.
“Local sourcing of critical raw materials, such as lithium, is the only logical step to create a vertically integrated domestic supply chain. Snow Lake Lithium has access to a rich lithium resource and is on the doorstep of North American manufacturers. 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.”
Snow Lake’s mine, based in Manitoba, Canada, is also the world’s first all-electric lithium and sources its power from a hydroelectric plant. Plus, the company can easily serve the North American auto industry with its access to the US rail network via the Arctic Gateway, which saves time and money on logistics.
The 55,000-acre site is expected to produce 160,000 tonnes of 6% lithium spodumene per year for the next decade. As it stands, the company has explored just 1% of its total concession and is “confident” that further exploration will lead to increased production estimates over the coming year.
Snow Lake also plans to establish a joint venture to create a lithium hydroxide processing plant and is seeking an automotive OEM or battery manufacturer as a partner. The proposed site will be in CentrePort Canada in Southern Manitoba.