Exploration for lithium-ion reserves has picked up in Canada, with major reserves of the element being excavated by different companies.
Canadian firm Benton Capital Corp, in Thunder Bay, has announced it is exploring a potential lithium mine near Fort Frances in northwestern Ontario, a province considered to be abundant in the element.
In March, the Dutch firm Argonaut Resources bought the Crescent Lake Lithium Project, which had been identified as containing significant hard rock lithium deposits.
And in January this year, Australian mineral exploration company Ardiden Limited bought the Seymour Lake Lithium Project in the state, near the town of Armstrong.
“Together with its existing Manitouwadge Graphite Project [also in Ontario], this acquisition positions Ardiden as a potential supplier of both of the key ingredients in the manufacture of lithium-ion batteries,” said Ardiden.
The Seymour Lake site has already been confirmed as containing extensive spodumene mineralisation—a host rock to lithium.
Despite media reports of battery makers’ fears that a shortage of lithium supply could delay production—to the tune that China has been accused of hoarding its own supplies—Battery University has played down the speculations.
“Most of the known supply of lithium is in Bolivia, Argentina, Chile, Australia and China. The supply is ample and concerns of global shortages are speculative,” a statement said.
While the metal is expensive to extract—with recycling possible but more expensive than harvesting new supplies through mining—the amounts of lithium needed were relatively small, said the University.
“The lithium raw material in a lithium-ion battery is only a fraction of one cent per watt, or less than one percent of the battery cost,” said Battery University.
“A $10,000 battery for a plug-in hybrid contains less than $100 worth of lithium. Shortages when producing millions of large batteries for vehicles and stationary applications could increase the price, but for now this is not the case.”
Thirty-nine per cent of the total application of lithium is consumed by the battery industry. The next highest consuming industry is glass, at 24%.
