Alberta, Canada, has identified a significant lithium resource, estimated at 82.5 million tonnes of lithium carbonate equivalent, which could be worth nearly US$1 trillion if economically extracted. This discovery positions Alberta as a potential leader in lithium production, particularly for the growing electric vehicle and battery markets. Companies like E3 Lithium and Lithium Bank are developing direct lithium extraction technologies, with E3 targeting initial production of 12,000 tonnes annually by 2028-2029 and Lithium Bank aiming for 10,000 tonnes by 2030. However, challenges persist, including securing financing, proving extraction technologies at a commercial scale, and competing with established producers in South America. The Canadian government is prioritizing lithium under its Critical Minerals Strategy, with significant funding allocated to support domestic supply chains and reduce reliance on imports, particularly from the United States. Despite the potential, experts caution that the economic benefits may take about a decade to materialize.