‘A huge opportunity’: Alberta oilfields could give rise to lithium industry fuelled by electric cars

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 64 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Alberta's oilfields could give rise to home-grown lithium industry

The natural resources company, which was founded in 2016, has developed a patented ion-exchange extraction technology that produces purified lithium concentrate from the light metal that occurs naturally within the province’s oilfield brines. The company’s goal is to produce battery-grade lithium hydroxide that can be used in the manufacturing of lithium-ion batteries — the same type of batteries that power the electric cars made by Musk’s company, Tesla Inc.

While electric cars are still relatively rare in Alberta, they have already made major inroads in Europe, California and China — and the growth is only expected to accelerate as battery capabilities improve, EVs get cheaper and concerns over climate change increase. According to Bloomberg New Energy Finance, EV sales worldwide are expected to surpass sales of internal combustion engine vehicles by 2039. The demand for lithium is forecast to overtake supply as early as 2025.

An Alberta lithium industry could also provide employment for laid-off oil-and-gas workers. E3 — which has secured the lithium and other mineral rights to more than 1.3 million acres in the Leduc Reservoir region — hopes to ultimately construct a commercial extraction and processing facility within the province, something that Doornbos said could create 300 to 500 full-time jobs.

“Lithium is one of those plays that speaks to Alberta’s strengths. We’re already pumping a lot of lithium up, we’re just basically putting it back down the hole right now,” Switzer said. “But we shouldn’t kid ourselves, it’s a bit of a race to be first. It’s a bit like LNG — whoever gets there first is going to lock in a market. If you’re second or third, you may miss that opportunity.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Aladdin Watch 2020 LOL ✈️🌴🧦😜 Team Train Wreck! 🤡 2.0 TrudeauJr PeterPanPM MagicKingdom

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil price keeps rising, industry frets over Iran-U.S. conflictThe global benchmark for crude oil rose above US$70 a barrel on Monday for the first time in over three months, with jitters rising over the escalating military tensions between Iran and the United States. Oil sands looking pretty good again Eh? CTV NEWS How about a report on TREUDEAU IRVING, his criminal ties and his family’s investment’s 🧐 tap tap tap I’ll wait⏱ as of 8.10am speculators will make a lot of money notice the price of Canadian oil WTI Crude 63.71+0.66 Brent Crude 69.47+0.87 Western Canadian Select 40.00+1.87
Source: CTVNews - 🏆 1. / 99 Read more »