$1 billion Battery Plant to be Built in Greater Vancouver Battery manufacturing infrastructure is set to increase in Canada, as exemplified by the Canadian division of Taiwan-based E-One Moli Energy announcing that it is building a $1 billion lithium-ion battery manufacturing plant in Metro Vancouver.
Notably, the Government of Canada is investing approximately $205 million in this project while the provincial government is providing $80 million. Construction is expected to start in June 2024, with operations commencing in 2028.
Source: https://dailyhive.com/vancouver/e-one-moli-energy-maple-ridge-vancouver-bc-battery-plant
With this growing trend of the Canadian Government supporting battery and battery metal initiatives many are looking for high-potential battery metal companies in Western Canada to invest in.
Volt Lithium Corp. (Ticker: VLT or VLTLF for US investors) holds lithium extraction rights for the Rainbow Lake Brine Project in Alberta, estimated to contain 4.3 million metric tons of lithium carbonate equivalent. The project boasts a high output capacity of 99 billion barrels of lithium-infused oilfield brine.
Volt plans to optimize returns and cash flow by strategically 'highgrading' the asset base, focusing initially on regions with lithium concentrations ranging from 101 to 121 mg/L. Notably, Volt has secured access to existing infrastructure through agreements with Cabot Energy Inc., who control the oil extraction rights to the project, minimizing the capital expenditure required for commercial lithium operations.
$100 million to date has been invested in facilities, wells, and pipelines, including three multi-well batteries with substantial water-handling capacity sourced from existing producing oil wells. Additionally, Volt benefits from railroad access for transportation.
Volt is in a unique position to develop this project as it is creating proprietary lithium extraction technology to extract lithium from oilfield brines. This technology has been supported by lab testing and a pilot production program.
Currently, Volt is in the midst of developing a Preliminary Economic Assessment (PEA) for the Rainbow Lake Project and is reaching the concluding phases of determining both capital and operating costs for a 20,000-tonne-per-annum extraction plant.
Volt also recently announced that it is commissioning a permanent Demonstration Plant for its extraction tech in Calgary which can test oilfield brines from basins across North America.
More here: https://voltlithium.com/wp-content/uploads/2023/10/23-10-24-Press-Release-N.-America-Brines-Expansion-FINAL-CLEAN.pdf
Posted on behalf of Volt Lithium Corp.