Lithium is a crucial component for rechargeable batteries, with around 75% of processed lithium being used for battery production. As explored in the article below, Canada is making investments in its lithium supply chain to support the growing demand for lithium in electric vehicles (EVs) and mobile devices.
The global lithium battery market, valued at $40 billion USD, is expected to double in the coming years. Canada, though ranking fifth in lithium deposits, is only eighth in production and is largely dependent on imports, primarily from China and the U.S.
https://whatsyourtech.ca/2023/10/31/a-boost-for-batteries-canada-invests-in-lithium-supply-chain-for-evs-mobile-devices/
Volt Lithium Corp. (Ticker: VLT.v or VLTLF for US shareholders) is addressing this issue by creating technology to extract lithium from a once inaccessible source that is abundant in North America: oilfield brines. Notably the company creates lithium extraction tech similar to E3 Lithium (which has seen support from the Canadian Government) but has a smaller market cap.
VLT's advanced lithium extraction process seamlessly integrates pre-extraction steps with direct lithium extraction, offering a more environmentally friendly and highly efficient alternative to conventional methods.
VLT is working to release a Preliminary Economic Assessment (PEA) for its flagship lithium-enriched oilfield brine project, Rainbow Lake, estimated to contain 4.3 million metric tons of lithium carbonate equivalent.
This upcoming assessment will provide crucial insights into the project's capital costs and overall economic viability, serving as a milestone to enhance investor understanding of this innovative venture.
VLT's other goal is to establish a permanent demonstration plant for its proprietary Direct Lithium Extraction process. This facility is designed to process lithium derived from brine sources, extending beyond Rainbow Lake to cover locations across North America. By creating a permanent facility, VLT is positioning itself as an important player in lithium extraction in North America.
VLT's proactive approach to addressing lithium sector challenges, along with its steadfast commitment to technological innovation, sets it apart from its industry peers.
Company Deck: https://voltlithium.com/wp-content/uploads/2023/10/23-10-06-Volt-Lithium-Oct-Full-Deck-FINAL.pdf
Posted on behalf of Volt Lithium Corp.