Despite a weak lithium market, the top projects in Canada and the US continue to advance.Lithium prices fell further in 2024 and while many analysts have recently called the bottom of the market, most new projects remain stalled.There is no shortage of lithium resources in North America, though the region remains behind Australia in terms of production and advanced projects.
26 billion loan, the partners are aiming for a final investment decision early this year and first production in 2027.Majors making movesWhile Rio Tinto had been exploring for lithium in Canada, it will soon be the owner of an advanced project via its acquisition of Arcadium.The main focus of the acquisition is operating assets in Argentina but the Galaxy project in Quebec is an advanced development opportunity.