 | Get all the essential market news and expert opinions in one place with our daily newsletter. Receive a comprehensive recap of the day's top stories directly to your inbox. Sign up here! |
(Kitco News) - Lithium supply must ramp up to keep momentum building in the sector, said Chris Doornbos, Founder and CEO of E3 Lithium.
On June 21, 2023, Doornbos spoke to Kitco at the 15th Lithium Supply and Battery Raw Materials 2023 in Henderson, Nevada.
E3 Lithium (TSX.V: ETL) is a lithium resource and technology company working towards the production of lithium products. Based in Alberta, E3 Lithium’s Clearwater Project is being developed within the provinces' oil fields. E3’s preliminary economic assessment (PEA) on its Clearwater project outlines a $820 million net present value (NPV8%) after tax, with a pre-tax value of $1.1 billion (NPV8%).
E3 Lithium will use direct lithium extraction technology to recover lithium. The company claims that the technology obtains over 90% recovery and drastically increases the concentration of lithium, while reducing impurities by over 98%.
Doornbos said the company is focused on a pilot plant completion.
"Construction is underway right now. To get that up and running, [we will need] probably six to eight weeks. We're going to have brine flowing through our direct extraction unit, so it is very exciting. It's been a long time in the making," said Doornbos.
Industry analysts worry that with a steep ramp up in demand, critical minerals like lithium will not be available in quantities needed.
"There's lots of conversation going on at this conference about the need to get lithium out to market, because we want lithium batteries to be the dominant battery chemistry," said Doornbos. "We don't want to give the market an excuse to move off of [lithium]. That requires people being able to meet supply."
Coverage of 15th Lithium Supply and Battery Raw Materials 2023 sponsored by Lindian Resources (ASX:LIN).
|
| 'Prime candidate for consolidation' - RK Equity's Rodney Hooper on Canada's lithium sector |
