Global mining and advanced chemical firms are increasing their investment in Canada, which means new jobs and an accelerated transition to sustainability for Canadians
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When Livent decided to increase its investment in Nemaska Lithium Inc. in Quebec, its leadership was signaling its confidence in Canada’s lithium industry and thinking about the possibilities related to further supporting Canada’s electric vehicle (EV) ecosystem.
Philadelphia-based Livent, which produces lithium from sites in Argentina and has plants in the United States, England, Argentina and Asia, bolstered its commitment to the Montreal-based company in 2022 when it announced it was doubling its ownership interest in Nemaska to 50 per cent. Lithium is essential in producing EV batteries and Nemaska Lithium is expected to have a production capacity of 34,000 tonnes of lithium hydroxide a year, with first production planned for 2026.
“Nemaska and the province of Quebec are building an integrated battery supply chain, and that’s something we are very supportive of,” says Sarah Maryssael, Livent’s chief strategy officer, adding EVs are the cars of the future and global economies will increasingly rely on lithium. “We want to be a partner and help them execute on that vision.”
Canada has a long history of mining and minerals processing. Most of the country’s diamonds are mined in the Northwest Territories, while Ontario and Quebec lead the country in gold production. Saskatchewan produces all of Canada’s uranium and has world-class potash reserves. British Columbia is prominent in copper and in steelmaking coal production. Nova Scotia has a thriving salt industry, most of which is used for de-icing, but some is also transformed into food-grade products, including table salt. And Newfoundland and Labrador and Quebec produce virtually all of Canada’s iron ore. The industry contributed $67.5 billion to Canada’s GDP in 2020 and directly employs 337,000 people, with another 315,000 employed in ancillary roles. This history and expertise are particularly appealing to foreign direct investment (FDI), which benefits Canadians looking for jobs in this booming industry.