About

Overview

(Nasdaq: LITM) is committed to operating a sustainable lithium mine in northern Manitoba to supply the growing North American lithium market

WE ARE PERFECTLY POSITIONED TO SUPPLY A CRITICAL RESOURCE TO THE NORTH AMERICAN EV AND BATTERY MARKET.

Located at the tip of the NAFTA “superhighway” with easy access to North American battery and electric vehicle manufacturing sites.

"We need automakers and other companies to keep investing here in America and not take the benefits of our public investments and expand electric vehicles and battery manufacturing abroad."

President Biden

May 2021

Addressing three major issues for manufacturers - as a North American source of lithium, providing low transportation costs and reducing supply chain emissions.

Inflation Reduction Act (IRA) set to increase domestic battery and critical mineral production

The Inflation Reduction Act, which was signed into law on August 16th, 2022, marks the most significant climate legislation in United States history and has streamlined approximately $370 billion in climate and clean energy investments

The IRA extends the Section 30D $7,500 tax credit for electric vehicles (through 2032) that satisfy several benchmarks regarding qualified manufacturers, the sourcing of battery materials, and final assembly within North America. In addition, the federal tax credit related to EV charging equipment has been extended through 2032.
The $7,500 tax credit is comprised of two sections, (1) $3,750 for the critical minerals either extracted in the US (or country with which US has free trade agreement) or recycled in North America and (2) $3.750 for the battery components (further details below).
With respect to the battery from which the electric motor of such vehicle draws electricity, the percentage of the value of components contained in such battery that are manufactured or assembled in North America must be equal to or greater than the applicable percentage:

1. Snow Lake Lithium

2. Ford Ion Park, Southeast MI

3. LG Chem battery facility, Holland, MI

4. GM/LG Chem battery plant (2022), Lordstown, OH

5. Panasonic/Tesla battery facility, Reno, NV

6. GM/LG Chem battery plant (proposed), Spring Hill, TN

The US's over-reliance on imported lithium-ion batteries and the climate change risk alternatives pose, led to the White House announcement in June 2021 towards a plan to secure end-to-end domestic supply chain for advanced batteries, with $17 billion of loan being authorised by the Department of Energy (DOE) - with a National Blueprint for Lithium Batteries to be released.

Unlike sectors such as marine transportation and aviation, light passenger vehicles have a clear technological path to net-zero emissions by 2050: electrification. So far, 17 countries have announced 100% zero-emission vehicle targets, or the phase-out of internal combustion engine vehicles by 2050. At SLL, we aim to become the world’s first lithium mine to achieve certified “B Corporation” status.

GLOBAL LITHIUM DEMAND WILL MORE THAN DOUBLE BY 2024

By the mid-2020s, EVs are expected to reach up-front price parity – without subsidies – with internal combustion vehicles in most segments, with EVs to represent c.32% of annual new car sales by 2030.

INDUSTRY CLASSIFICATIONS

Sector:
Materials

NAICS:
Other Chemical and Fertilizer Mineral Mining (212393)

Industry:
Mining

SIC:
Chemical and Fertilizer Mineral Mining, Not Elsewhere Classified (1479)