For Doornbos, it’s a case of a high tide lifting all boats.
Grounded Lithium, headquartered in Calgary, has secured land in southwest Saskatchewan and near Drumheller. Its operations differ from that of E3 as the company is not working from the aquifer from previous oil and gas sites. Instead, it is targeting lithium-rich brines in non-oil areas so it does not have to separate out oil during the processing. However, this means there is more exploration work for the company.
It’s about de-risking the process for companies in order to meet a massive demand in Canada and around the world. The federal government has legislated the phase-out of traditional combustible engines in new vehicles by 2030 in an effort to get to net zero. To meet this demand, officials have prioritized the sourcing and mining of critical minerals domestically as well as the development of manufacturing plants in Canada for batteries and vehicles.
if it requires a tax credit, is it actually profitable?