International. The country seeks to strengthen the supply chain of electric vehicles. Tests show Canada could also become a new source of lithium.
The UK recently announced it is building its first lithium refinery in an effort to strengthen the electric vehicle supply chain.
In Teesport, the UK's fifth-largest port, Green Lithium, a company funded by commodity trading giant Trafigura, will build a £600m refinery for battery material.
Supporters of the project want to generate 1,000 jobs during construction and enough lithium hydroxide annually for one million electric vehicles once the plant is operational.
To prepare for the 2030 ban on the sale of new petrol and diesel vehicles, the government wants to improve the supply chain for electric vehicles.
Lithium is an essential component for batteries and a "critical mineral" used in technologies ranging from mobile phones to wind turbines.
Ministers are concerned about the fragility of supply chains for important minerals, especially those of China, due to the deterioration of relations between this Asian country and the US and the United Kingdom itself.
In an effort to close the supply gap, nations around the world are scrambling to find new sources of lithium in places like Australia, South America and even Africa.
However, according to Canaccord, Canada is positioned to become a key lithium player in the medium term thanks to an increasing number of active development and exploration projects.
