Snow Lake Lithium expects its all-electric mine to produce enough lithium to power 5 million electric vehicles in North America

Despite only having explored 1% of its 55,000-acre site in Canada, carbon-conscious mining company Snow Lake Lithium believes it can enable a massive domestic supply of the chemical to EV automakers when will begin commercial mining. The company expects its all-electric mine to produce enough lithium to power up to 500,000 electric vehicles in North America each year, which could prove vital in the United States as the auto industry shifts its supply chains domestically in order to qualify for revised federal tax credits.

Snow Lake Resources Ltd. ($LTIM) is a publicly traded mining company looking to source valuable battery materials differently. The company is already committed to providing fully traceable, carbon-neutral and safe lithium for the electric vehicle and battery market in North America using hydroelectric power and zero-emission mining machinery.

The lithium-rich land is located in Manitoba, Canada, and was acquired in 2016 by Australian exploration company Nova Minerals Ltd. – a majority shareholder of Snow Lake Lithium – which was created in 2018. Since then, Snow Lake has consolidated the land and conducted surveys to determine its resource potential.

Snow Lake Lithium launched its initial assessment of the land in early 2022, but at the time said it would take 18 to 24 months for environmental work, such as permitting, to be completed before the commercial lithium mining can actually begin in North America.

Snow Lake Lithium still has a long way to go before it can tap into this rich lithium supply to automakers in North America, but based on early assessments, the company believes that narrowing global supply chains will be critical to battery materials, while reducing US automakers. “Dependence on China.

Source: Snow Lake Lithium

Snow Lake will supply lithium to North America for years

The mining company shared its latest progress in all-electric mining today in a press release, which includes some very encouraging numbers for electric vehicle automakers in North America if Snow Lake can in fact achieve the commercial lithium mining as planned.

According to Snow Lake Lithium, it plans to domestically produce 160,000 tons of 6% lithium spodumene per year, enough to power about 500,000 electric vehicles for the North American market, which equates to about 5 million vehicles. electricity over a decade. Snow Lake CEO Philip Gross explained:

As we move rapidly towards electrification, it is critical to the future of the North American automotive industry that we build a rock-to-road battery supply chain. Local sourcing of critical raw materials, such as lithium, is the only logical step to creating a vertically integrated national supply chain. Snow Lake Lithium has access to a rich lithium resource and is on the doorstep of North American manufacturers. That’s enough lithium to power 500,000 electric vehicles per year produced in North America, which would significantly reduce the logistics and emissions that would be created by importing raw materials from China.

In addition to being abundant in lithium – a naturally occurring element currently vital to EV battery chemistry, the location of the Snow Lake Electric Mine Site in North America is ideal for rail travel to the United States. With nearby access to the Arctic Gateway Railroad in Canada, rail transportation offers easy connection to the US rail system in the middle of the country, close to automotive hubs like Detroit. In addition, rail transport requires only a few hundred kilometers of travel compared to thousands of kilometers by road or by boat.

Such efficient access to the United States could prove fruitful for EV automakers looking to assemble their vehicles and battery components, including lithium, in North America to meet new credit terms. federal tax implemented in the Inflation Reduction Act, beginning in 2023.

Looking ahead, Snow Lake said it is continuing its search for a major OEM or battery manufacturer to join in a joint venture to help turn the raw material into battery-suitable lithium hydroxide. of electric vehicles in North America. The company explained that most lithium comes from brine and hard rock deposits, but the production of batteries for electric vehicles favors lithium hydroxide from hard rock.

Snow Lake will continue its technical assessment and drilling program at the lithium site and still expects all-electric mining to transition to commercial production in 2025.

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