{"id":756,"date":"2025-10-25T16:08:45","date_gmt":"2025-10-25T16:08:45","guid":{"rendered":"https:\/\/topfinancialinsights.com\/index.php\/2025\/10\/25\/shaakichiuwaanaan-project-set-to-become-second-largest-lithium-mine-globally\/"},"modified":"2025-10-25T16:08:45","modified_gmt":"2025-10-25T16:08:45","slug":"shaakichiuwaanaan-project-set-to-become-second-largest-lithium-mine-globally","status":"publish","type":"post","link":"https:\/\/topfinancialinsights.com\/index.php\/2025\/10\/25\/shaakichiuwaanaan-project-set-to-become-second-largest-lithium-mine-globally\/","title":{"rendered":"Shaakichiuwaanaan Project Set to Become Second Largest Lithium Mine Globally"},"content":{"rendered":"<\/p>\n<p><strong>Canadian company PMET Resources (ASX:PMT, TSX:PMET, OTCQX:PMETF) has completed a lithium-only feasibility study on the CV5 deposit of its Shaakichiuwaanaan lithium project in Northern Quebec.<\/strong> <\/p>\n<p>The company said that the feasibility study confirms that the project is a large-scale and lifelong operation, with CV5\u2019s maiden reserve updated to 84.3 million tonnes (Mt) at 1.26 percent lithium oxide or about 2.62 Mt lithium carbonate equivalent (LCE) in probable reserves.<\/p>\n<p>Results also show that there is still potential to upgrade and expand resources at CV5 and its nearby CV13 deposit, which currently hold a total resource of 108.0 million tonnes at 1.40 percent indicated and 33.4 at 1.33 percent inferred.<\/p>\n<\/p>\n<p>\u201cOur large scale and long-life project is ideally suited to support the emerging American, European, and Asian lithium raw materials supply chains,\u201d commented CEO and President Ken Brinsden. <\/p>\n<p>\u201cThere are very few projects of this size &amp; scale, quality, and low production cost that can assist in underwriting the expected capital investment supporting new supply chains and demand growth in western markets.\u201d<\/p>\n<p>Located in Quebec\u2019s Eeyou Istchee James Bay region, Shaakichiuwaanaan is recognised as the largest lithium pegmatite mineral resource in the Americas. <\/p>\n<p>It is also among the largest lithium mines in the world, with potential to become the second largest following the Greenbushes lithium operations in Western Australia. <\/p>\n<p>Greenbushes is owned by Albemarle (NYSE:ALB) and was recorded with an estimated 0.21 metric tonnes per annum lithium production in 2023. <\/p>\n<p>PMET is targeting a final investment decision for Shaakichiuwaanaan for the second half of 2027, hoping that \u201cthe overall market supply-demand balance tightens over the coming years.\u201d <\/p>\n<p>Researchers found that the project can have an annual production of up to 800,000 tonnes of lithium-rich rock, along with pollucite, tantalite, and cesium.<\/p>\n<p>Brinsden said that about 20 percent of the jobs created at Shaakichiuwaanaan will be allotted to workers at the Cree territory.<\/p>\n<p>PMET Resources was formerly Patriot Battery Metals. The company officially changed its name in September. <\/p>\n<p><em><\/em><strong>Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canadian company PMET Resources (ASX:PMT, TSX:PMET, OTCQX:PMETF) has completed a lithium-only feasibility study on the CV5 deposit of its Shaakichiuwaanaan lithium project in Northern Quebec. The company said that the feasibility study confirms that the project is a large-scale and lifelong operation, with CV5\u2019s maiden reserve updated to 84.3 million tonnes (Mt) at 1.26 percent&hellip;<\/p>\n","protected":false},"author":1,"featured_media":757,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/posts\/756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/comments?post=756"}],"version-history":[{"count":0,"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/posts\/756\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/media\/757"}],"wp:attachment":[{"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/media?parent=756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/categories?post=756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/topfinancialinsights.com\/index.php\/wp-json\/wp\/v2\/tags?post=756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}