Mountain View County has approved a request by Calgary-based E3 Lithium Ltd. for an option to purchase the land at the former Dyck Gravel Pit east of Highway 2.
In a news release issued Thursday, E3 Lithium Ltd. said the site southeast of Olds will be used for the company’s Clearwater Project’s Central Processing Facility.
The property is “well situated for infrastructure, including accessible utilities and roadways, to support E3 Lithium’s development of the first commercial lithium facility in Western Canada.”
Chris Doornbos, president and CAO of E3 Lithium, said in the release, “We have a significant opportunity to build the Clearwater Project in an ideal location, repurposing an existing industrial site into the vision for E3. The site also happens to be easily accessible and surrounded by essential infrastructure for successful operations.”
It will host the central facility where brine will be collected, lithium will be extracted and battery-grade lithium salts will be produced for incorporation into the North American battery supply chain, the company said.
"This Clearwater facility will be the first of its kind in Alberta, bringing substantial economic benefits to the local community through job creation and revenues for the county and province," the company said.
Mountain View County also issued a statement on Thursday.
The option to purchase price is $1,562,128 and reflects a net amount after accounting for reclamation costs that the county would have incurred had the land been reclaimed rather than sold, the county said.
“The site involved was previously used for aggregate extraction and has been deemed suitable for potential commercial lithium production by E3 Lithium.”
The company made a request to purchase the land, prompting the county to have an assessment carried out through a real estate appraisal and engineered calculations to address liabilities resulting from the site’s previous use for aggregate operations, officials said.
“As part of the land acquisition, E3 will repurpose the majority of the area disturbed for aggregate extraction and will assume responsibility for reclamation of the site to Alberta Environment standards.”
The option to purchase the land has not yet been exercised.
The county plans to work with E3 as the project progresses, including as it relates to infrastructure, roads and other local considerations, officials said.
The Alberta Energy Regulator, which oversees resource development in the province, would oversee compliance for any lithium extraction and regulatory compliance.
“The county is relying on the provincial regulatory process, in that it will provide appropriate consideration towards minimizing off-site impacts and addressing concerns of landowners in the area.”
Sale of the land and future development at the site will financially benefit the county, with the potential to create “hundreds of jobs and boost the local economy,” officials said.
Should the sale of the land not proceed, the land would continue to be owned by Mountain View County.
Landowner inquiries about the project can be sent to Lee Hardy, stakeholder relation manager with E3 Lithium, at 587-324-2775 or at [email protected], the county said.
