Frontier has two spodumene-bearing deposits at its PAK mission, 175 kilometres north of Crimson Lake, close to the Manitoba border. Spodumene is probably the most broadly used lithium due to its excessive lithium content material.
The corporate goals to develop into a fully-integrated lithium producer of battery-quality lithium, a vital element within the batteries that energy electrical automobiles and excessive tech gadgets.
The pilot, performed in partnership with mining and commodities large Glencore (LON: GLEN), may finish in a commercial-scale lithium chemical plant that will create 500 jobs throughout a two-year building section, and greater than 250 as soon as it’s operational.
“This strategic funding strengthens Frontier Lithium’s capacity to evaluate new and rising applied sciences in order that we will greatest ship high-quality lithium battery supplies whereas lowering waste and power,” Frontier Lithium CEO Trevor Walker mentioned in the statement.
“The well timed assist of the Ontario authorities additional reinforces our imaginative and prescient and value-proposition to construct an built-in native mining and battery supplies provider for the electrical automobile business from one in every of North America’s largest and highest-grade lithium sources,” Walker mentioned.
The funding can be designed to focus on Ontario’s potential for mineral growth and promote financial progress within the province’s north. The realm is named “Electrical Avenue” due to the dimensions and high quality of the steel utilized in batteries.
“We’re investing in modern mining and refining expertise developed proper right here in northern Ontario,” mentioned Greg Rickford, Minister of Power, Northern Improvement and Mines. “There’s a rising world marketplace for dependable, responsibly sourced vital minerals, and we wish Ontario to be the primary jurisdiction on all people’s thoughts.”
The corporate released in February a preliminary financial evaluation of its PAK open-pit mission, forecasting a 26-year mine life with the potential to ascertain a hydrometallurgical chemical plant at an unidentified Nice Lakes port.
Frontier’s tentative begin date to start commercial-scale mining at PAK is 2025.