{"id":6113,"date":"2024-02-20T23:23:01","date_gmt":"2024-02-20T23:23:01","guid":{"rendered":"https:\/\/economicherald.net\/?p=6113"},"modified":"2024-02-20T23:23:01","modified_gmt":"2024-02-20T23:23:01","slug":"lithium-universe-secures-sweet-spot-for-16000tpa-quebec-refinery","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6113","title":{"rendered":"Lithium Universe secures sweet spot for 16,000tpa Qu\u00e9bec refinery"},"content":{"rendered":"<p>Lithium Universe secures site for 16,000tpa lithium carbonate refinery in Qu\u00e9bec<br \/>\nSite is 1km from General Motors\/POSCO Cathode factory and the Ford\/EcoProBM Cathode factory<br \/>\nPurchase marks another milestone in strategy to become a lithium producer in Qu\u00e9bec<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report:<\/em> Lithium Universe has secured prime industrial property in the Be\u0301cancour Waterfront Industrial Hub (BWIP) for its multi-purpose battery-grade lithium carbonate refinery \u2013 which will form part of the company\u2019s Que\u0301bec Lithium Processing Hub (QLPH) strategy.<\/strong><\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<div><span class=\"mce_SELRES_start\">\ufeff<\/span><\/div>\n\n<p>\u00a0<\/p>\n<p>The BWIP was determined as the preferred site for the company\u2019s 16,000tpa lithium carbonate plant <a href=\"https:\/\/stockhead.com.au\/resources\/lithium-universes-engineering-study-on-quebec-refinery-off-to-a-flying-start\/\"><strong>via comprehensive location option study conducted by Hatch.<\/strong><\/a><\/p>\n<p>Notably, the BWIP site is also just 1km down the road from General Motors\/POSCO Cathode factory and the Ford\/EcoProBM Cathode factory and 140km from Northvolt\u2019s EV battery facility near Saint-Basile-le-Grand.<\/p>\n<p>With over 20 large scale battery manufacturers on the east coast of North America and with spodumene the preferred feedstock, <a href=\"https:\/\/stockhead.com.au\/company\/lithium-universe-lu7\/\"><strong>Lithium Universe (ASX:LU7)<\/strong><\/a> says it\u2019s becoming clear that Que\u0301bec is poised to become a driving force in the emerging EV battery ecosystem in North America.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Closing the lithium conversion gap in North America<\/strong><\/h2>\n<p>According to a multitude of reports, the East Coast of North America is expected to witness a substantial surge in battery manufacturing over the next few years, with +20 major battery manufacturers planning to deploy an estimated 900GW of battery capacity by 2028.<\/p>\n<p>By 2030, the US states of Georgia, Kentucky and Michigan are all poised to dominate EV battery production in the US, joining established jurisdictions such as Kansas, North Carolina, Ohio and Tennessee.<\/p>\n<p>These states aim to collectively manufacture between 97GWh and 136GWh of EV batteries annually.<\/p>\n<p>To meet the escalating demand for EVs, North America\u2019s battery manufacturing capacity must skyrocket from 55GWh just a few years ago to nearly 1,000GWh by 2030. The estimated investment for such growth is +US$40 billion.<\/p>\n<p>Up to 13 million \u201call-electric\u201d vehicles annually are expected to be produced in the US alone over the next six years.<\/p>\n<p>Canada is also expanding its network of battery plants with the likes of Volkswagen, Stellantis, LG Energy Solution and Northvolt all making recent investment in the country\u2019s auto sector, potentially creating 250,000 jobs and contributing C$48 billion annually to the economy by 2030.<\/p>\n<p>There is a scarcity of independent lithium converters planned for construction in North America, however, and LU7 notes a significant gap in lithium conversion and processing looms in the US and Canada.<\/p>\n<p>LU7 estimates some 800,000t of LCE per annum will be required to satisfy demand in those countries, assuming planned battery manufacturing capacity of 900GWh by 2028 and using a ratio of 850g LCE per KWh.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<div><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\">\ufeff<\/span><\/div>\n\n<p>\u00a0<\/p>\n<h2><strong>Important step in QLPH strategy<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>The company\u2019s strategy to develop a lithium carbonate refinery, rather than lithium hydroxide refinery, is due to the widespread use of the concentrate in the fast-growing Lithium Iron Phosphate (LFP) batteries.<\/p>\n<p>The purchase price is C$12.6m, plus infrastructure works, which nets the company a strategic location offering proximity to road, rail, and port facilities and cutting-edge infrastructure equipped with essential utilities.<\/p>\n<p>The site is also right next to a port, which makes it a strategic fit as the location of the plant due to its ability to easily access international spodumene supply.<\/p>\n<p>\u00a0<\/p>\n<p>The Be\u0301cancour facility is near approximately 25 new battery manufacturing and cathode facilities proposed to be in operation by the end of 2027. Source: LU7.<\/p>\n<p>\u00a0<\/p>\n<p>\u201cThis is just another positive step forward for the company as we secure this key landholding in the most attractive emerging battery-focussed jurisdiction,\u201d LU7 chairman Iggy Tan said.<\/p>\n<p>\u201cQue\u0301bec\u2019s low-cost hydroelectricity, high environmental standards, and educated workforce, as well as the location\u2019s logistical advantages, including a deepwater port and easy rail access to the rest of North America, were key factors in the decision,\u201d Tan said.<\/p>\n<p>\u201cOne of the reasons we like the site is that it gives us the opportunity to expand.<\/p>\n<p>\u201cWe have the ability to do that if necessary.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Lithium Universe, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/lithium-universe-secures-sweet-spot-for-16000tpa-quebec-refinery\/\">Lithium Universe secures sweet spot for 16,000tpa Qu\u00e9bec refinery<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Lithium Universe secures site for 16,000tpa lithium carbonate refinery in Qu\u00e9bec Site is 1km from General Motors\/POSCO Cathode factory and the Ford\/EcoProBM Cathode factory Purchase <a href=\"https:\/\/economicherald.net\/?p=6113\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6114,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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