Lithium is currently on the US and Canada’s critical mineral list. A lack of financing is expected to lead to lower supply – particularly in the next five years, with the world lithium market requiring exponential growth in the next decade.
Lithium is essential to Canada’s economic security and is required for the country’s transition to a low-carbon economy. The Lithium boom 2 is underway and underpinned by vehicle electrification, with Canada announcing goal of 100% zero emission vehicle sales by 2035.
North America is focusing on internal supply chains and downstream processing to reduce the reliance on current external suppliers.