Critical minerals have become a defining issue for national security, industrial policy, and climate innovation.
Research from the Canadian Climate Institute this year suggested that governments should act quickly to de-risk critical minerals investment and accelerate project timelines in order to “avoid missing out on a multi-billion dollar economic opportunity.”
Building on the G7 Critical Minerals Action Plan established in June, Canada’s Minister of Energy and Natural Resources recently announced the first round of strategic projects and measures under the Critical Minerals Production Alliance to accelerate the development and security of critical minerals supply chains.
“Critical minerals power the technologies and clean energy systems that drive Canada’s future,” says Gregor Robertson, the Minister responsible for Pacific Economic Development Canada.
The first round, comprised of 26 “investments, partnerships, and measures” will purportedly unlock more than $6.4 billion of critical minerals projects that are essential to clean energy supply chains.
“By developing more critical mineral projects here at home … we’re building the foundation for a safer, more sustainable energy future,” stated Joël Lightbound, who serves as Minister of Government Transformation, Public Works, and Procurement.
The announced investments include support of Nouveau Monde Graphite’s Matawinie Mine near Montreal and Rio Tinto’s Scandium Production Plant in Sorel-Tracy, as well as Ucore Rare Metals’ facility in Kingston and Torngat Metals’ Strange Lake project in Quebec.
“By taking action now, we are safeguarding Canada and our allies against supply chain vulnerabilities and reducing dependence on unreliable sources,” commented David McGuinty, Minister of National Defence.
Beyond physical projects, new collaborations were also unveiled, including partnership between Canada and the UK and Italy to explore financial support for future critical minerals projects.
Another example is Vancouver-based PH7 Technologies working with German researchers to support the development of an AI-optimized metallurgical process to recover battery metals and support sustainable lithium-ion battery recycling.
“Through the Critical Minerals Production Alliance and the G7 Critical Minerals Action Plan, we are mobilizing capital, forging international partnerships, and using every tool at our disposal to build resilient, sustainable, and secure supply chains,” remarked Tim Hodgson, federal Minister of Energy and Natural Resources.
Canada is “strengthening our position as a reliable supplier of critical minerals and reinforcing our role in shaping the standards and technologies that will define the future of energy and defence,” according to Claude Guay, who serves as Parliamentary Secretary to the Minister of Energy and Natural Resources.
The country is “setting a global benchmark for strategic collaboration and economic resilience,” posits Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec regions.