Since 2013, lithium carbonate prices have surged from $6,000 per metric ton to $16,000 in 2018, with forecasts hinting at a striking $25,000 by 2023’s close. This price trajectory has helped spur global investment in lithium, spotlighting James Bay in Canada.

The distinctive geographical landscape of James Bay primed it to become an investment magnet following discoveries of lithium deposits boasting concentrations above 75%. This multiple-mine, high-yielding lithium district continues to make headlines as lithium industry giants like Rio Tinto and Albemarle invest heavily in James Bay’s lithium projects.

Rio Tinto Group, one of the largest mining groups in the world with sales exceeding $55.6 billion USD, has been strategically scouting for lithium. The company recently ventured into James Bay, signing option agreements with Azimut Exploration Inc. for its Kaanaayaa and Corvet lithium mines, allowing for an investment of up to $115.7 million in the exploration of early-stage lithium targets.