Canadian lithium projects advance despite weak prices
Three Australian-listed firms are advancing lithium operations in Canada even as prices have fallen sharply.
Elevra Lithium broke ground in June on an expansion of its Quebec operation. It will lift capacity to 373,000 tonnes per year by mid-2029.
Rio Tinto committed US$1.1 billion to its Nemaska joint venture with the Quebec government. It aims to start production from the Whabouchi mine in 2028.
In Saskatchewan, Prairie Lithium expects to produce its first 150 tonnes per year of lithium carbonate in Q4. It uses a new direct extraction method from oil field brines.
The Canadian government backed Prairie with C$6.3 million in interest-free finance. Korean processor Hydro Lithium has committed to buy the output.
Prairie's chairman says the cost structure will sit in the lowest quartile. This means the project stays profitable even at current depressed prices.
- 373,000 tonnes per year by mid-2029
- Elevra target capacity
- US$1.1 billion
- Rio Tinto capex commitment
- 150 tonnes per year
- Prairie initial production
- C$6.3 million interest-free finance
- Canadian government support
Why it mattersLithium is essential for EV batteries and grid storage. New low-cost supply from stable democracies reduces dependency on volatile markets.
AustraliaAll three firms are Australian-listed, so local investors will track the projects' progress and costs as capital and commodity markets reassess lithium's long-term price.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
