Through the completion of their first Saskatchewan lithium well, Grounded Lithium Corporation will start working on their first Saskatchewan project in the coming weeks. In the province, this is the only other lithium well.
In November 2021, Prairie Lithium completed the first lithium well in Saskatchewan.
Lithium is a crucial metal in the electric driven economy as the energy shift away from fossil fuels picks up speed.
It is one of the key elements used in the production of batteries for electric vehicles.
For their endeavour, Grounded Lithium choose a location close to Kindersley, Saskatchewan.
Greg Smith, president, CEO, and founder of Grounded Lithium Corporation, said, “We spent some time trying to understand where and why the lithium was being concentrated in various horizons in the sub-surface, and at the same time, wanted to look at ‘where could we do this in the least expensive way.
“In this area, the same horizon doesn’t contain any oil. That’s a benefit, then. Additionally, it’s the shallowest point for which we can actively drill.
Smith argued that drilling expenses will increase significantly the deeper the wells.
Grounded Lithium started out using funds of the individual founders, but since the idea has expanded, the company has raised around $10 million for their projects.
That is used for drilling wells and purchasing assets by visiting Saskatchewan Crown sales.
Currently, 295 property parcels in Saskatchewan are in the hands of Grounded Lithium for lithium rights.
Like the oil and gas business in the province, the lithium industry has the potential to provide income and jobs, according to Smith.
“Lithium is going to be a very expensive commodity because it is key to the electric vehicle market.
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The Saskatchewan Minister for Trade and Export Development, Jeremy Harrison, stated that there was a need for substantial quantities of these items. “Without that, you can’t genuinely create, whether it’s electric cars or anything else that relies on a lot of battery power for propulsion for any other reason.”
“Will there be a long-term increase in the number of electric vehicles? I firmly believe that as technology develops, you will observe that more and more.
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Harrison and Smith concur that this type of industry will swell Saskatchewan’s labour force and draw new residents.
Considering that we are the western world’s leader in the rare earth space, Harrison added, “there is no doubt that we are already seeing that given that some of the talents that are necessary, we are seeing individuals are moving.”
Smith claims that Grounded Lithium alone will create hundreds of jobs.
In terms of employment, Smith stated, “In the end, we will be drilling hundreds of wells. We will have numerous facilities out there and we estimate we will be employing literally hundreds of people. ”
As Canadian provinces navigate the present energy shift, Smith argued that the economies of sectors like lithium and uranium have enormous promise.
We don’t claim to be attempting to replace oil and gas.
We are merely attempting to argue that the world requires a lot of energy and that we can contribute to it.
Harrison claims that the Saskatchewan government sees tremendous future potential for the sector.
“Folks might not always be aware of what’s in their phones and the materials that they are using, but these are the raw materials of modern life that we are blessed with here in Saskatchewan.
“I believe we will be a leader in the extraction and production of lithium in North America, which will again result in the creation of hundreds of jobs and possibilities for residents of Saskatchewan.
Saskatchewan is anticipated to be a leader in the production of lithium in North America.
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