Canada Plans Investment Conference, Backs Lithium Refining

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Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)

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Summary

Canadian leaders attended a ribbon-cutting ceremony for the Delta Electrochemical Lithium Refining Plant in British Columbia. Later, the government announced plans for its first-ever investment summit.

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Carney Plans Investment Summit in Toronto

Working to bring in nearly $750 billion in investments over the next five years, Canadian Prime Minister Mark Carney announced plans for a debut economic event after backing lithium operations in the country.

Carney's administration on Friday announced plans for the first-ever Canada Investment Summit. Slated over two days in September in Toronto, Carney said the event will showcase Canada's trade deals and tax competitiveness. Last week, the U.S. government gave Canadian energy company Enbridge and its subsidiaries the green light to maintain its pipeline facilities along the U.S.-Canadian border in North Dakota and Michigan. The potential exists, meanwhile, to add capacity across the border. According to Industrial Info Resources data, there are more than 40 pipeline-related facilities owned by Enbridge in Michigan and North Dakota.

Canada is moving quickly on nation-building projects given the newfound acrimony with the United States. U.S. President Donald Trump upended bilateral relations with annexation threats and trade pressures since returning to office last year.

"Canada has what the world wants," Carney said. "We are a superpower in both clean and conventional energy, with vast deposits of critical minerals."

Carney, however, is working to halve the amount of U.S. trade given bilateral tensions. His government has prioritized projects ranging from small modular nuclear reactors to exports of liquefied natural gas to help with that effort.

Lithium Plant Hosts Ribbon-Cutting Ceremony

On Thursday, federal ministers joined provincial officials in British Columbia for a ribbon-cutting ceremony for what was described as North America's first-ever commercial electrochemical lithium refining facility.

"There is a critical gap between Canada's lithium resources and the capacity to convert them into battery-grade materials," said Saad Dara, the chief executive officer at Mangrove Lithium. "Mangrove is working to fill that missing middle with cost-competitive, sustainable and resilient lithium conversion."

Canada is the seventh-largest lithium producer in the world. The new refinery will produce enough battery-grade lithium for 25,000 electric vehicles annually, which the government said is "a major expansion in our domestic processing capacity and ability to meet lithium demand, 87% of which is tied to batteries, EVs and grid storage."

According to Industrial Info Resources data, the Delta Electrochemical Lithium Refining Plant was technically completed in January. With a total investment value of $85 million, the facility can process 3,000 tons of lithium oxide and hydroxide. Subscribers can learn more about the Delta plant in a detailed plant profile.

By the Numbers

• $750 billion in investments targeted by Canada over the next five years.
• $85 million: total investment value of a now-completed lithium plant.

Key Takeaways

• Canada plans first-ever investment conference.
• Leaders get behind lithium refinery in British Columbia.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).