In the next few weeks, Grounded Lithium Corporation will be executing their first Saskatchewan project through the completion of their first Sask. lithium well. This is only the second lithium well to exist in the province.
Saskatchewan’s first lithium well was drilled by Prairie Lithium in Nov. 2021.
With the accelerating energy transition away from fossil fuels, lithium is a critical metal in the electric powered economy. It is one of the main components used in the manufacturing of electric vehicle batteries.
Grounded Lithium chose a site near Kindersley, Sask., for their project.
“We spent some time trying to understand where and why the lithium was being concentrated in certain horizons in the sub-surface,” said Greg Smith, president, CEO and founder of Grounded Lithium Corporation, “and at the same time, wanted to look at ‘where could we do this in the least expensive manner.'”
“In this particular area, that same horizon contains no oil. So that’s an advantage. Plus, it’s the shallowest point that we can actively drill for this.”
Smith explained that the deeper the wells, the most extensive the costs of drilling will be.
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 goes into acquiring assets, going to Saskatchewan Crown sales and acquiring assets and drilling wells.”
Grounded Lithium currently controls 295 sections of land in Saskatchewan for lithium rights.
The lithium industry has the potential to create jobs and revenue similar to the oil and gas industry in the province, Smith said.
“Lithium is going to be a very expensive commodity because it is key to the electric vehicle market.”
“There is a need for large volumes of these things,” said Jeremy Harrison, Sask. Minister for Trade and Export Development. “Unless you have that, you can’t actually produce, whether it be electric vehicles or anything else using large amounts of battery power for propulsion for any other reasons.”
“In the long term, are we going to see more electric powered vehicles? I think absolutely as the technology advances you are going to see more and more of that.”
Harrison and Smith agree that industries such as this will create a surge of jobs in Saskatchewan and attract people to the province.
“Without question, we are seeing that already, given the fact that some of the skills that are necessary, we are seeing people are moving because we are the western world’s leader in the rare earth space,” said Harrison.
Smith claims that Grounded Lithium alone will create hundreds of jobs.
“On the employment side, we will be drilling, in the end, hundreds of wells,” said Smith, “We will have multiple facilities out there and we anticipate we will be employing literally hundreds of people in the end.”
Smith said that industries such as lithium and uranium have tremendous potential in the economy as provinces across Canada work through the current energy transition.
“We are not trying to say we are here trying to replace oil and gas. We are just trying to say the world needs lots of energy and we can fit in within it.”
From the Sask. government’s perspective, Harrison says they see outstanding potential for the industry moving forward.
“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 think we are going to be one of the leaders in North America in lithium production and extraction, which is again, going to create hundreds of jobs and opportunities for people in Saskatchewan.”