Nova Scotia – Right Time, Right Place
The North American continent is experiencing once-in-a-generation growth as the USA and Canada re-establish their industrial base in efforts to “decarbonise the economy” as the globe shifts to low carbon alternatives for power generation, storage and transportation networks – the key drivers behind the rapid growth of EV adoption requiring increasing volumes of lithium-ion batteries (LIB).
Building LIB supply chain resilience is only possible when underpinned by a reliable source of lithium from stable and transparent jurisdictions for which Nova Scotia is perfectly positioned in terms of geographical location and westernised regulatory environment.
While all projections and forecasts for critical minerals differ in terms of the absolute supply/demand balance, there is growing consensus that the supply/demand gap will exist well into the 2030’s as supply struggles to match the growing demand. Benchmark Minerals have stated publicly that an increase in EV penetration from 9% in 2023 to 32% in 2030 translates to over 7 million EVs requiring a significant amount of local lithium supply not currently available.
Lithium is a key material to achieve the targets and objectives and governments and corporations.
Governments are acutely aware of the forecasted supply/demand gaps providing funding and structures conducive to more rapid growth. Australia-United States Climate, Critical Minerals and Clean Energy Transformation Compact signed in May 2023 is evidence of this.
Additionally Canadian government at federal and provincial levels are establishing Canadian critical minerals policies and development strategies.
The map below captures most of recently announced lithium-ion battery activity in the USA and Canada for which Nova Scotia is perfectly positioned to tap into.
