Lithium mining experts say we need to focus on localization. The best way to do this is to refine the lithium close to where it is mined. That way, the carbon footprint is minimized. Currently, lithium batteries are shipped across oceans by cargo ships from China to North America and back. Sourcing lithium batteries close to where they are used is vital to reducing their global carbon footprint.
Electra
Lithium is an essential element of electric vehicles, but we do not have enough of the mineral to meet all of our EV needs. The global supply of lithium is largely constrained, with resources concentrated in a few regions. In addition, more than half of the world’s lithium is found in regions with high water stress. Nonetheless, future developments in batteries and manufacturing methods may help to alleviate the shortage.
This means new mining projects need to be environmentally friendly and competitive in global markets. In addition, the EU has announced a mandate that importers must disclose the CO2 footprint of batteries by 2024. The EU will also set emission limits for batteries and require a certain percentage of their lithium to be recycled. The European Commission is also considering creating a “battery passport” that would allow the supply chain to share information on the life cycle of batteries.
As we accelerate the transition to electric vehicles, we must ensure our supply of lithium remains stable. We do not have enough of the mineral to meet all of our EV targets, and the global demand for lithium is rising faster than supply. If the supply does not keep pace, we may face a shortage of lithium before 2025.
Piedmont
While Piedmont Lithium has made strides in mining the metal, the company’s production is not enough to meet the needs of the global EV market. The company hopes to have enough lithium in its mines to meet the needs of one million cars each year by 2023. In addition, Piedmont expects to process 30,000 tons of lithium each year.
In order to supply the market, Piedmont Lithium must first secure permits. These can take anywhere from five to eight years. For example, Lithium Americas has spent 13 years trying to acquire permits to mine the largest known lithium deposit in the US. However, the project has been delayed due to legal disputes with local communities. The delay was recently acknowledged by US Secretary of Energy Jennifer Granholm, who pledged to make the permitting process faster.
Lithium is the most important mineral needed for the production of electric vehicles. But even though domestic resources may be abundant, they may not be enough to meet the government’s ambitious targets. The Biden administration is trying to cut gas car sales by 50% by 2030, and has called for half of new vehicles to be electric. This is good news for the industry, but it also has a downside.
Albemarle
Albemarle, the world’s largest lithium producer, sees a robust demand for lithium in the future. But the company is struggling in the short term, due to oversupply. In recent months, investor worries about the company’s future growth have soared.
The company is now focusing on the timing of Train 3 and Train 4 production and will evaluate the global lithium market later this year. Meanwhile, it has already begun exploring for lithium in Australia. But it will take a decade to bring these projects online. The company’s CEO is wary of the impending shortage.
Lithium is a crucial component of electric vehicles. But global lithium supplies are already stretched, and the company expects demand to triple by 2025. The company estimates that there is only enough lithium globally to build 14 million EVs. But, as the demand for EVs rises, the supply of lithium will fall.
Electra’s Snow Lake Lithium
Electra Battery Materials Corporation has updated its Battery Materials Park project and announced changes to its leadership team. Chief Financial Officer Ryan Snyder has accepted a new opportunity with a senior precious metals producer and will leave Electra at the end of April. Mr. Snyder’s replacement has not yet been determined.
The company’s plans include developing over 55,000 acres of land in Manitoba to build the world’s first all-electric lithium mine. It will source the lithium from domestic sources in North America and run the operation on 98% renewable energy. The company is currently working through the red tape associated with the environmental approval process to start mining. It’s also seeking a joint venture partner to manufacture lithium for EV batteries.
The company has also added new staff to the technical team. A PhD in chemical engineering from the University of Toronto, Dr. Zoran Jankovic will provide technical support for the metallurgical laboratory. He’ll also provide technical guidance on leaching and neutralization circuits. Other new employees include a Process and Lab Technologist and Electrical and Instrumentation Technician. The company has also signed an offtake agreement with Glencore AG and is in discussions with other potential partners.
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