Snow Lake Lithium and LGES to establish supply chain in North America
Snow Lake Lithium has signed with LG Energy Solution as its builds its domestic supply chain for the North American electric vehicle market.
Snow Lake Lithium and LGES have signed a non-binding Memorandum of Understanding (MOU) to explore the opportunity to create one of Canada’s first lithium hydroxide processing plants in CentrePort, Winnipeg, Manitoba.
Under the terms of the MOU, Snow Lake Lithium will supply LGES with lithium over a ten year period once production starts in 2025. The MOU and contemplated partnership will be subject to a number of conditions, including the completion of due diligence from both parties.
A scoping study, in partnership with Primero, is already underway to identify the technologies, innovations and skills required to deliver a world-class lithium hydroxide plant within the Manitoba Province.
Philip Gross, CEO Snow Lake Lithium said: “We are delighted to collaborate with world-leading LG Energy Solution to build a rock to road battery supply chain for the electric vehicle market in North America.”
“Both Snow Lake Lithium and LG Energy Solution recognise the importance of local sourcing of critical raw materials, such as lithium, and that this is the logical step for battery and electric vehicle manufacturers.”
“Our all-electric lithium mine in Snow Lake Manitoba will power 5 million electric vehicles over the next ten years, helping to secure the future of the North American automobile market.”
“We are grateful for the commitment of Prime Minister Justin Trudeau, Premier of Manitoba, Heather Stefanson and Invest Canada to support the development of a sustainable mining industry in Canada which has helped to facilitate our partnership with LG Energy Solution.”
Youngsoo Kwon, CEO of LG Energy Solution said: “As we have recently announced our mid- to long-term strategy to focus on North America, the fastest growing EV market, these partnerships serve as a crucial step towards securing a stable key raw material supply chain in the region.”
“By constantly investing in upstream suppliers and establishing strategic partnerships with major suppliers of critical minerals, LGES will continue to ensure the steady delivery of our top-quality products, thereby further advancing the global transition to EVs and ultimately to a sustainable future.”
