+44 207 394 30 90 (London)

Study says resource-rich Quebec should charge into lithium-ion sector

Main » News » Study says resource-rich Quebec should charge…

MONTREAL — A new study says Quebec has all the ingredients to supply the global market with lithium-ion batteries, but lacks the kitchen to cook them up.

The report, commissioned by an industry group, says the rapid growth of the electric vehicle market represents a big business opportunity for the province, predicting the number of electric vehicles sold will be as much as 26 times more by 2030.

The study released today says global demand will vastly exceed lithium-ion battery production. Meanwhile, a large lithium-ion battery recycling industry is set to emerge as a source of reusable materials for new batteries.

Quebec Economy Minister Pierre Fitzgibbon says the government aims to launch a strategy this fall to develop the lithium-ion battery industry.

With seven lithium mines in development as of January 2019, the study by accounting and advisory firm KPMG says a development plan should set its sights on refining ore to the quality required for lithium-ion batteries.

The study makes similar recommendations for graphite, cobalt, nickel and iron, which are all components of lithium-ion batteries.

Source: The Canadian Press

MORE

Galaxy to Adopt Cost-Cutting Measures and leap into Lithium Downstream Processing

Lithium markets across the globe have started stabilising, and the demand for the “whitegold” is again picking up with industry expecting further growth. However, the recent turbulence in the lithium market has prompted the Australian lithium miners such as Galaxy Resources Limited (ASX: GXY) to optimise the current production and expenditure plans. Australia is the…


Mali Lithium: Upcoming Catalysts Could Spark A Turnaround Story In 2020

Summary Mali Lithium has experienced a tough year, as the share price of EEYMF is currently trading at A$0.075/share, down ~50% in 2019, and ~90% since peaking in late 2017. Lithium prices have continued to slide and the pain has been felt sectorwide, as mines such as Wodgina and Bald Hill have had to be…


Tesla To Expand The World’s Largest Lithium-Ion Battery

Tesla and power producer Neoen will expand by 50 percent the world’s largest lithium-ion battery in South Australia to ensure additional grid stability, the French company said on Tuesday. Neoen will expand the Hornsdale Power Reserve battery, also known as the Tesla Big Battery, which Tesla started to build two years ago. At the time,…