Maricunga is less than 5% the size of the lithium-rich Salar de Atacama in northern Chile, but high-grade deposits of the battery metal makes it attractive to miners.
Pedra Branca underground mine is expected to have an annual production of about 18,000 tonnes of copper and 11,000 ounces of gold over an eight-year mine life.
North American Lithium (NAL), backed by top battery maker Contemporary Amperex Technology, halted operations last year at its Quebec mine and obtained creditor protection in May.
B.C. on Tuesday became the first province in Canada to legally commit to bringing its laws up to the standards outlined in the U.N. Declaration of the Rights of Indigenous Peoples.