US natural resources development company Sustainable Projects Group has entered into a Letter of Intent (LOI) to establish a new lithium carbonate facility.

The company’s Lithium Harvest subsidiary intends to establish a manufacturing facility in Alberta, Canada, with a full annual capacity of 9,000 metric tons of lithium carbonate. The facility will use Lithium Harvest’s Direct Lithium Extraction technology, which uses less water than traditional lithium mining.

The facility will extract lithium from geothermal brine and is scheduled to be operational in the second half of 2026. Fully built out, the facility would more than double the current Canadian lithium production.

“After a period of oversupply, we now see that we are moving towards a supply deficit. Recent reports show that it takes an average of 18 years to bring new mining operations online. Our approach, using feedstock already on the ground, allows us to bring this new project online in about 18 months,” said Sune Mathiesen, CEO of Sustainable Projects Group.

Source: Sustainable Projects Group