LithiumBank proposes 31Mt/y LHM project in Alberta
Resource development firm LithiumBank has unveiled the results of its preliminary economic assessment (PEA) for the Boardwalk lithium-brine project, which could deliver North America’s biggest lithium hydroxide monohydrate (LHM) production capacity.
The study is based on Boardwalk, in Alberta, producing 31 350 t/y of LHM over 20 years, at an operating cost of $6 807/t.
The PEA generates a net present value, using an 8% discount, or $1.7-billion and an internal rate of return of 17.8% on an after-tax basis.
“The Boardwalk PEA sets the stage for our team to pursue advanced lithium resource development in Western Canada,” commented CEO Rob Shewchuk.
In addition to the Boardwalk project, LithiumBank also holds two other development-ready, district-scale assets in Western Canada, Park Place (AB) and Saskatchewan.
"By the end of 2023, we expect to commence pilot plant studies in parallel on both Boardwalk and Park Place and capture near-term enhancement opportunities that have already been identified. We believe this has the potential to position both the Boardwalk and Park Place districts among the most attractive direct brine projects in North America,” said Shewchuk.
LithiumBank points out that the direct lithium extraction used to process Boardwalk brine will require less fresh water and have a surface footprint that is a fraction of hard rock or evaporation lithium production.
It also notes that ramp-up to commercial production within three years is possible under newly established permitting directives.
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