Canada’s has identified 31 critical minerals and metals considered essential for sustainable economic growth. Of these, the most significant are lithium, graphite, nickel, cobalt, copper and REE.
Our Cyclone Project in Quebec is focused predominantly on lithium. Lithium is used to make energy-dense rechargeable batteries for electronics, electric vehicles, and grid storage. Canada has large hard rock spodumene deposits and brine-based lithium resources.
Over the next decade, McKinsey forecasts the growth of Li-ion batteries at an annual compound rate of approximately 30%. By 2030, EVs, along with energy-storage systems, e-bikes, electrification of tools, and other battery-intensive applications, could account for 4,000 to 4,500 gigawatt-hours of Li-ion demand.