Canada has seen a surge in hard rock lithium exploration and development activity following the discovery of Patriot Battery Metals’ globally significant Corvette (CV5) pegmatite in Quebec in 2021, the enactment of the US Inflation Reduction Act (IRA) which incentivizes “friendshoring” of supply chains, and a rally in global lithium prices that peaked in 2022. A host of feasibility studies emerged between 2023 and 2025, the latest of which Adamas Intelligence benchmarked in this insight.
Existing producers of spodumene concentrate include the twice bankrupt and re-capitalized North American Lithium mine in Quebec (a joint venture between Sayona Mining and Piedmont Lithium), the Chinese-owned Tanco mine in Manitoba, and Quebec’s Whabouchi mine due to be commissioned in 2025 after also emerging from bankruptcy proceedings.
Spodumene concentrates have mostly been exported to China for chemical…
