This is the equivalent to around 500,000 EVs per year, the company said.
The 55,000-acre site is planned to produce 160,000 tonnes of 6% lithium spodumene a year over a 10-year period. The mine could begin supplying lithium to North American automotive manufacturers from 2025.
“As we rapidly transition to electrification, it’s essential for the future of the North American automotive industry that we build a rock to road battery supply chain,” said Philip Gross, CEO of Snow Lake Lithium. “Local sourcing of critical raw materials, such as lithium, is the only logical step to create a vertically integrated domestic supply chain. Snow Lake Lithium has access to a rich lithium resource and is on the doorstep of North American manufacturers.”
The company reportedly plans to establish a joint venture to create a lithium hydroxide processing plant and is seeking a partnership with an automotive OEM or a battery manufacturer to help deliver this.
Currently, Snow Lake Lithium has explored around 1% of its site but is confident that “further exploration will increase estimates over the course of the next year”.