Alberta Jumps into the Global Lithium Market with Debut Extraction Pilot Project

With the growing demand for lithium-ion batteries to power electric vehicles (EVs), the province of Alberta has decided to jump into the critical mineral race with opening its first lithium extraction pilot project.

Lithium-ion batteries have become the backbone of the clean energy transition, powering EVs, storing energy from solar and wind farms, and even providing backup power for homes and businesses.

Lithium, a lightweight and highly reactive metal, is a critical component in the production of lithium-ion batteries. Currently, the world’s largest lithium producers are Australia, Chile and China.

Nonetheless, for the longest time Alberta has been known to have one of the world’s largest lithium deposits, located deep underground in the Leduc geological formation, which is also a major oil-and-gas producing area.

Chris Doornbos, the CEO of E3 Lithium which is located east of the town of Olds in central Alberta, terms this development as the start of a new era for the province of Alberta which has traditionally being defined as an oil and gas dominated economy.

“Without forsaking our past, the lithium industry opens up a whole new industry, using our existing skill set. The opportunity to be a global leader, and to make Alberta a lithium jurisdiction, is really and truly here,” said Doornbos.

E3 is a publicly traded resource company with its headquarters at Calgary the company is quickly assuming a leading position in the lithium space. The company was the first one to get a lithium extraction project up and running in Alberta.

“I think the oil and gas companies are very closely watching the lithium space. I could see them partnering with lithium companies, but I could also see them, as Exxon is already doing, doing it themselves and creating a business unit and making lithium,” added the CEO.