Calgary-based E3 Metals Corp identified the world’s seventh largest lithium resource in the water of the historic Leduc Formation. The metal is essential to power Electric Vehicles (EV) and other clean technologies for cities to go green.
“If everything goes well for us, we might be the first Canadian lithium producer,” said Chris Doornbos, President and CEO at E3 Metals Corp. The company is in talks with the federal government regarding Canada’s strategic mineral plan, as lithium is crucial to so much new technology.
The company’s value proposition is simple: higher purity and less carbon. E3 Metals aims to be one of the world’s greenest and most environmentally sustainable producers of battery-grade lithium in terms of land and water use as well as greenhouse gas emissions.
The vision is that E3 Metals’ processing facility will be powered by a natural gas power facility, which could allow them to use heat from gas turbines to reduce the energy required for other process steps for an energy-efficient system. The company plans to sequester CO2 into the wastewater stream.
“Our goal is to produce net zero emissions and, if we’re successful, we will change the landscape of mineral production,” said Doornbos.
Now named the Clearwater Project, E3 Metals recently conducted its preliminary economic assessment (PEA) and has estimated it will be able to produce 20,000 tonnes of battery-quality lithium hydroxide per year over the next 20 years – that’s 400,000 tonnes over the project’s life. This “petro-lithium” represents a peak potential of $1.8 billion to $2 billion US in gross revenue per year over the next three decades.
The Clearwater Project is monumental for the lithium sector, and the first of its kind in terms of scale for Canada, in Alberta. What is so game-changing about the Clearwater Project is the local aspect – local carbon capture that can allow for zero-carbon emission lithium.
Once a pipe dream, now a reality.
“We’re excited to make this a home-grown Alberta story, built on the back of a strong industry, and to provide a key component of growing Canada’s strength in the new-energy mix.”
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