Prairie Lithium has announced the acquisition of 188 000 acres of Subsurface Mineral Permits in Saskatchewan, Canada.
Prairie Lithium is a Canadian lithium brine extraction and technology development company with its head office in Emerald Park, Saskatchewan. The land acquisition increases Prairie Lithium’s total mineral holdings in Saskatchewan to over 220 000 acres. Prairie Lithium is the largest active lithium brine developer in Saskatchewan, and one of the largest active lithium brine developers in Canada.
The land acquisition comes after Prairie Lithium’s successful Direct Lithium Extraction (DLE) proof of process pilot project that operated in Saskatchewan in 2020. For the pilot project, Prairie Lithium installed its proprietary DLE equipment on an active oil and gas site in Saskatchewan. Lithium was extracted from the brine, converted into a lithium sulphate concentrate, and further converted into lithium carbonate.
Lithium carbonate and lithium hydroxide are two key compounds used in lithium ion batteries. With lithium ion battery manufacturing increasing around the world, the price of lithium compounds has increased drastically over the past few months, sending shockwaves throughout the supply chain. Demand for lithium is expected to outpace supply within the next few years, unless, in Prairie Lithium management’s view, new mines are brought into production at a record pace.
Read the article online at: https://www.globalminingreview.com/exploration-development/06052021/prairie-lithium-completes-major-land-acquisition-in-saskatchewan/