Canada’s critical minerals strategy: Discussion paper
Opportunities from Exploration to Recycling: Powering the Green and Digital Economy for Canada and the World
Foreword by the minister
Let me begin with a simple fact — mining is one of Canada’s most important economic sectors.
Canada currently produces 60 minerals and metals at 200 mines and 6,500 sand, gravel and stone quarries across the country.
This country is home to almost half of the world’s publicly listed mining and mineral exploration companies, with a presence in more than 100 countries. With a combined market capitalization of $520 billion.
Now, our mining industry — indeed our country — is faced with a generational opportunity: critical minerals.
Simply put, there is no energy transition without critical minerals, and this is why critical mineral supply chain resilience is an increasing priority for advanced economies.
And because of this we are seeing projections for significantly increased demand for several of these minerals, overwhelming current supply.
In fact, the World Bank forecasts a 500 percent increase is required — by 2050 — in production of minerals like cobalt just to feed the clean energy transition to batteries.
And for minerals such as lithium and graphite, demand could increase by as much as 4,000 percent. With this increased demand comes the risk that, without sufficient supply, critical minerals could become the bottleneck, rather than an enabler, in the energy transition.
At the same time as these projections for increased demand, geopolitical uncertainty has magnified the precariousness of existing sources of minerals and metals.
Governments around the world have begun to assess their vulnerability to supply shocks for commodities they cannot sufficiently source inside their own borders but on which their economies depend.
It is in this context that the Government of Canada views the development of our critical minerals value chain as a generational opportunity for our country.
Every stage of the critical minerals value chain presents an opportunity for Canada: exploration, mining, processing, manufacturing and advanced manufacturing, and recycling. Moreover, these opportunities exist in every region of the country.
That’s why our government has committed to develop a Critical Minerals Strategy, backed by nearly $4 billion in Budget 2022 — a strategy that will address the entire value chain.
To kick off the public consultations on the strategy, we are looking for input on this discussion paper that sets out guiding principles as well as five key outcomes:
Economic growth and competitiveness;
Environmental protection and climate action;
Enhanced security and partnership with allies;
Advancing reconciliation; and,
Advancing diversity and inclusion.
I look forward to working with Indigenous Peoples, provinces, territories, industry and stakeholders to finalize a strategy that will create good jobs for Canadians, grow our economy and further Canada’s standing on the world stage.
Jonathan Wilkinson, Minister of Natural Resources
The current consultation period will take place from June 14 to September 15, 2022. You may email submissions to Natural Resources Canada’s Critical Minerals Centre of Excellence at cmce-cemc@nrcan-rncan.gc.ca. The final Strategy will be published in Fall 2022.
Consultation Period closes September 15, 2022.
Click here for more information.