Tuesday, May 21, 2024

Snow Lake Lithium to produce enough lithium to power 5 million EVs

Snow Lake Resources (Snow Lake Lithium), a natural resource exploration company, expects its all-electric mine to produce enough lithium to power around 5 million electric vehicles over 10 years for the North American market. This is the equivalent of around 500,000 electric vehicles per year.

Snow Lake Lithium’s planned all-electric lithium mine is perfectly placed to enable the domestic supply of this critical resource to North American automotive manufacturers from 2025. This could prove vital in the U.S. as the automotive industry shifts its supply chains domestically in order to qualify for revised federal tax credits.

Based in the Manitoba, Canada, Snow Lake Lithium is developing the world’s first all-electric lithium mine to enable the domestic supply of this critical resource to the North American electric vehicle industry. The company has already committed to operating a fully renewable and sustainable lithium mine that can deliver a completely traceable, carbon neutral, and zero-harm product to the electric vehicle and battery market in North America by utilizing hydroelectric power and zero-emission mining machinery.

Snow Lake will supply lithium to North America for years.
Snow Lake will supply lithium to North America for years. Credit: Snow Lake Lithium

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 to deliver this. The proposed plant will be located in Centre Port Canada in Southern Manitoba, and a scoping study is underway to identify the most effective approach to deliver a world-class lithium hydroxide plant within the Manitoba Province.

Snow Lake Lithium’s 55,000-acre site is expected to produce 160,000 tonnes per annum of 6% lithium spodumene concentrate over an 8-10 year period. Currently, the company has explored approximately 1% of its site and is confident that further exploration will increase estimates over the course of the next year. Its planned mine will be operated by almost 100% renewable hydroelectric power to ensure the most sustainable lithium manufacturing approach.

“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,” said Philip Gross, CEO of Snow Lake Lithium. “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.”

Over the coming months, Snow Lake Resources Ltd. will continue its engineering evaluation and drilling program across its site, with the expectation that mining operations will transition to commercial production targeted for 2025.