Thanks to its unique qualities, lithium has a variety of technical and non-technical applications. However, its application in batteries seems to be the most important one and consumes significant amount of this valuable element. All market analysts forecast a strong demand for lithium for at least next two decades. The most important market drivers would be mobile gadgets and electronic devices; renewable energies; and electrical vehicles. On the other side of the story, there is huge amount of wastewater produced in oil sand operations which contains valuable materials like lithium and potassium. The aim of this research project is to find effective and efficient techniques to concentrate lithium from wastewater produced in oil sands operations. After conducting a comprehensive research, we came to this conclusion that selective adsorption and electrodialysis can technically be two promising techniques for lithium extraction from oil sands wastewaters. Economical evaluation of these techniques need more investigations.