The recent electric vehicle boom has increased the demand for lithium-ion battery components around the world, and the Canadian lithium industry is one of the top beneficiaries. Canadian lithium mines have been hard at work increasing their production capacity, and lithium stocks have been on the rise as a result. In this article, we’ll take a look at the top five Canadian lithium stocks for 2023, in order to provide you with the best investment decisions for your portfolio.
The first in our list is the lithium giant, Nemaska Lithium Inc. (TSX: NMX). Nemaska has been a leading producer of lithium battery components for years, and their low-cost production of high-quality lithium hydroxide products make them a leading choice for EV producers. The company is also currently in the process of building a $1 billion electrolysis facility that is expected to be fully operational by the end of 2022. With the increasing demand for EV components, Nemaska Lithium’s Lithium Hydroxide will be in high demand.
The second stock on our list is Neo Lithium Corp. (TSXV: NLC). Neo Lithium is focused on the development of its flagship Tres Quebradas property in Argentina. The property is estimated to hold one of the world’s largest brine deposits of high-grade lithium, and is expected to become operational in the coming years. With its low-cost lithium production, Neo Lithium could potentially become one of the most important suppliers of lithium to the EV industry in the near future.
The third stock in our list is Lithium Americas Corp. (TSX: LAC), which is focused on the development of two lithium projects in Argentina. The Cauchari-Olaroz project is the most advanced of the two, and is expected to begin production in 2023. The project is expected to produce 22,500 tons of high-grade lithium carbonate annually, making Lithium Americas a top choice for those looking to invest in the Canadian lithium industry.
Fourth in our list is Critical Elements Corporation (TSXV: CRE), which is advancing the Rose Lithium-Tantalum Project in Quebec. The Project is one of the largest undeveloped lithium deposit in North America, and with its low capital costs and high-grade lithium resources it could be a major player in the global lithium market. The company is currently focused on advancing the project towards production, and is expected to make a decision to build a mine by the end of the year.
Finally, our fifth stock in the list is BCI Minerals (ASX: BCI). BCI Minerals is focused on the development of its Wodgina lithium project in Australia. With its high grade lithium resources, the Wodgina project could potentially become one of the world’s major lithium producers. The company is currently in the process of approving the necessary permits, and is aiming to begin production by the end of 2024.
These are our top 5 Canadian lithium stocks for 2023. All of them have tremendous potential to become major lithium producers in the near future and are expected to benefit from the continuing growth in the EV industry. Be sure to do your own research before investing, and keep in mind that past performance does not guarantee future success.
