With an insatiable demand for lithium around the world, new tax incentives unveiled in the 2023 federal budget could have big implications for Manitoba’s mining industry. Lithium – the rare earth material that is a critical component in electric car batteries – can be found here in Manitoba.
“The projections for electric vehicle demand are through the roof, and there’s not enough lithium supply on the planet right now to supply it,” Dave Peck, with Grid Metals Corporation, told CTV News. It’s working with Sagkeeng First Nation to develop the new mines which it estimates are about two years away from being able to extract the material.
“We can build a battery plant here. We have renewable power, we have a great labour force, and we’ve got everything people would want,” Peck said. At the moment, there isn’t a place to process the lithium in Manitoba.
“There’s a window right now in terms of these critical minerals. Because they’re not going to wait, other provinces and other countries aren’t going to wait for Manitoba to get its act together,” said Chuck Davidson, the president and CEO of the Manitoba Chambers of Commerce. “Now is the time for us to take advantage of this.” He says Grid Metals wants to be a part of it. The exploration and development company plans to extract lithium from an area north of Lac du Bonnet.
For the rest of this article: https://winnipeg.ctvnews.ca/federal-budget-could-have-big-implications-for-manitoba-mining-industry-1.6333289