CALGARY, Alberta (Sept. 6, 2023) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, the most trusted energy-dedicated SaaS platform, has released a new report that outlines the untapped opportunities in Alberta’s lithium brines, focusing on the potential for direct lithium extraction and prospects in wastewater processing. The report reviews the competitive landscape and offers insights into strategic considerations for operators.
“Rising demand for lithium, a key metal in the transition of energy sources to lower-carbon alternatives, is sparking a land grab in Alberta and a renaissance in prospecting, this time for lithium rather than oil,” said Graham Bain, report author and a vice president at EIR.
“In the current scenario, extracting lithium during wastewater processing can become a goldmine of opportunity,” Bain added. “In one case study, we found lithium produced from a single company’s water could potentially generate a staggering yearly revenue of C$583 million. This could be a revolutionary shift in how we view wastewater processing.”
Key takeaways from the report:
- Alberta’s lithium brine concentration averages 42 parts per million (ppm.) The concentration is highest in the Woodbend Group, with an average concentration of 59 ppm.
- Nine operators in Alberta identified for direct lithium extraction hold nearly 5 million hectares of land.
- Extracting lithium during wastewater processing represents a massive opportunity from a services perspective. One identified company produces 22 million barrels of water a month. At a lithium concentration averaging 50 ppm and at a C$55,000 LCE spot price, the company could produce 10,600 tonnes of LCE/year and yearly revenue of C$583 million.
- As of Jan. 1, 2023, all industrial and metallic minerals have been placed under the jurisdiction of the Alberta Energy Regulator. New brine-hosted mineral licenses and lease bonus payments are expected to bring an additional C$152 million to the province in the first six years.
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About Enverus Intelligence Research
Enverus Intelligence ® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts; and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser.
Media Contact: Jon Haubert | 303.396.5996