How EMPS is Advancing DLE While Canada Contemplates Tariffs EMP Metals Corp. (Ticker: EMPS.c, EMPPF for U.S. investors) is making significant strides in its lithium extraction operations at the Viewfield Lithium Brine Project, located in Saskatchewan.
By utilizing cutting-edge Direct Lithium Extraction (DLE) technology, the company is strategically positioning itself within the rapidly growing lithium-from-brine sector, as global demand for lithium continues to soar.
Canada’s Strategic Move on Tariffs
Further improving the outlook for Canadian-based lithium companies like EMPS, the Canadian government has initiated the process of imposing tariffs on Chinese-made electric vehicles (EVs). Starting October 1, 2024, these tariffs will increase from 6% to 106%. Additionally, a 30-day Customs Tariff Act review will begin to assess the need for tariffs on batteries, battery parts, semiconductors, critical minerals, metals, and solar products.
Source: https://www.ctvnews.ca/politics/canada-begins-process-to-impose-tariffs-on-chinese-batteries-critical-minerals-1.7032258
This move supports Canada’s commitment to strengthening its domestic clean energy production and securing a stable supply of critical minerals. For EMP Metals, this new policy enhances the significance of its domestic lithium production efforts, which could play an essential role in meeting future demand for North American lithium.
Viewfield Lithium Brine Project: Strategic Location and Innovation
The Viewfield Project offers a unique advantage due to its favorable geological environment, featuring low levels of organic contamination in its brine, particularly when compared to other regions like Alberta. Saskatchewan, recognized globally as one of the top mining destinations, further increases the strategic value of this project.
EMP Metals is utilizing DLE technology to increase lithium recovery rates while maintaining high impurity rejection. In its pilot facility, the company has already achieved an impressive 97% lithium recovery rate along with a 99% rejection of impurities, underscoring the effectiveness of this innovative extraction process.
Potential for Growth: Market Valuation and Future Exploration
Despite EMP Metals’ impressive progress, the company’s valuation, currently standing at $44 million, remains well below that of competitors like Standard Lithium, currently valued at $310 million. This discrepancy points to a significant potential upside for EMP Metals, especially as the company continues to advance its projects and refine its extraction techniques.
In terms of recent developments, EMP Metals has completed its first vertical test well and is preparing to drill a horizontal well with two one-mile lateral legs in the Duperow formation. This new drilling approach is expected to enhance flow rates and provide better control over lithium concentrations, setting the stage for continued growth and expansion.
More on EMPS' recent progress here: https://empmetals.com/news
Posted on behalf of EMP Metals Corp.