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Released November 20, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)
"We are like-minded supporters of free and rules-based trade," the governments said in a bilateral statement. "Canada and Sweden have complementary economies and enjoy a strong and growing commercial relationship, and this strategic partnership can unlock significant opportunities for both countries."
Canadian Prime Minister Mark Carney is working to reduce trade dependencies on the United States amid deteriorating bilateral ties. On top of his sweeping tariff threats, U.S. President Donald Trump has suggested at times that Canada become the 51st state of the union. Meanwhile, Canada is a net importer of goods from Sweden, to the tune of US$2.9 billion last year.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals databases can view a corporate profile of ArcelorMittal and a profile of the ArcelorMittal Dofasco facility.
"In response to shifting geopolitical and geoeconomic dynamics, we will aim to deepen bilateral cooperation and promote the global adoption of advanced technologies in areas such as decarbonized steel, critical minerals, and small modular reactors, thereby supporting a sustainable and resilient future," the governments added in their bilateral statement.
Critical minerals and small modular reactors were already included on a list of nation-building priorities outlined by Carney. The prime minister included the McIlvenna Bay copper and zinc mine in Saskatchewan, where the Foran Mining Corporation (Vancouver, British Columbia) aims to build Canada's first carbon-neutral mine by adopting technologies such as water-recycling systems.
Copper is a key component of technologies such as electric vehicles, wind turbines and power transmission. The project aims to extract 34.5 million tons per year of copper and 58.6 million pounds per year of zinc. Subscribers can learn more about the mining project, including capacities, investment values and necessary equipment, in a detailed project report.
Elsewhere, Canada aims to become the first country among the Group of Seven (G7) major economies to bring a small modular reactor online. A 300-megawatt reactor would be the first addition for the Darlington nuclear power plant in Ontario, which could be in service before the end of the decade. Subscribers can view more details on the project.
Carney leaves next for a visit with delegates in the United Arab Emirates. Bilateral trade with the UAE was valued at US$2.4 billion last year.
By the Numbers
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Summary
A strategic partnership between Canada and Sweden outlines collective efforts that advanced some of the nation-building projects prioritized by Canadian Prime Minister Mark Carney.Like-Minded Free Traders
Climate, the environment and energy were among the five pillars laid out in a strategic partnership between Canada and Sweden, the Canadian government announced Tuesday."We are like-minded supporters of free and rules-based trade," the governments said in a bilateral statement. "Canada and Sweden have complementary economies and enjoy a strong and growing commercial relationship, and this strategic partnership can unlock significant opportunities for both countries."
Canadian Prime Minister Mark Carney is working to reduce trade dependencies on the United States amid deteriorating bilateral ties. On top of his sweeping tariff threats, U.S. President Donald Trump has suggested at times that Canada become the 51st state of the union. Meanwhile, Canada is a net importer of goods from Sweden, to the tune of US$2.9 billion last year.
Responding to Geopolitical Shifts in Trade
Carney, who wants to halve the amount of U.S. trade, has already brokered similar agreements with European trading partners eager to buy low-carbon Canadian steel. In October, Luxembourg-based steel manufacturer ArcelorMittal said it would invest US$1.3 billion at its Dofasco plant in Ontario to accommodate hydrogen as an energy source, part of its goal of reducing the carbon intensity of the steel it produces by 25% by 2030.Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals databases can view a corporate profile of ArcelorMittal and a profile of the ArcelorMittal Dofasco facility.
"In response to shifting geopolitical and geoeconomic dynamics, we will aim to deepen bilateral cooperation and promote the global adoption of advanced technologies in areas such as decarbonized steel, critical minerals, and small modular reactors, thereby supporting a sustainable and resilient future," the governments added in their bilateral statement.
Critical minerals and small modular reactors were already included on a list of nation-building priorities outlined by Carney. The prime minister included the McIlvenna Bay copper and zinc mine in Saskatchewan, where the Foran Mining Corporation (Vancouver, British Columbia) aims to build Canada's first carbon-neutral mine by adopting technologies such as water-recycling systems.
Copper is a key component of technologies such as electric vehicles, wind turbines and power transmission. The project aims to extract 34.5 million tons per year of copper and 58.6 million pounds per year of zinc. Subscribers can learn more about the mining project, including capacities, investment values and necessary equipment, in a detailed project report.
Elsewhere, Canada aims to become the first country among the Group of Seven (G7) major economies to bring a small modular reactor online. A 300-megawatt reactor would be the first addition for the Darlington nuclear power plant in Ontario, which could be in service before the end of the decade. Subscribers can view more details on the project.
Carney leaves next for a visit with delegates in the United Arab Emirates. Bilateral trade with the UAE was valued at US$2.4 billion last year.
By the Numbers
- $2.9 billion in Swedish imports last year
- 300 MW small nuclear reactor could be G7's first
- 34.5 million tons per year of copper expected from Saskatchewan
- Critical minerals, environment are included in the Canadian-Sweden agreement.
- Canada is working to advance non-U.S. trade.
- The nation is a leader in low-carbon steel.
About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
