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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Working to diversify trade options, Canadian Prime Minister Mark Carney said he brokered a new agreement with the German government on critical minerals.
From timber to crude oil, the export-dependent Canadian economy is tied largely to the United States. Early-year trade disputes with U.S. President Donald Trump led to the resignation of former Prime Minister Justin Trudeau and prompted a Canadian race for trade diversity.
On Tuesday, Carney announced from Berlin that both sides established a new partnership on critical minerals.
"Canada has immense potential to be a leading and reliable global supplier of critical minerals, and Canada and Germany are natural strategic partners in this mission," Carney said. "As Germany's domestic demand for critical minerals grows and it diversifies its supply chains, Canadian workers and industries can be the strong, stable provider of these indispensable resources."
Coordinating through a joint task force, both sides would work on supply-chain integration while focusing on minerals such as lithium and germanium. That comes as the provincial government of Alberta allocated some USD$3.2 million to LithiumBank Resources of Vancouver to explore ways to extract battery-quality lithium out of the brine located in an underground aquifer in northern Alberta.
While in Berlin, delegates from Quebec-based Torngat Metals, a rare-earth specialist, and Germany's Vacuumschmelze, a global leader in the production of rare-earth permanent magnets, were among those signing memoranda of understanding on research collaboration.
Torngat is producing around 3.5 million tons of rare-earth ore at its Strange Lake facility in Ontario. Another facility in Quebec, the Becancour Rare Earths Beneficiation Plant, is under construction and could yield about 578,000 tons per year at full operation. A pilot plant will be completed in September, while construction of the commercial-scale portion could kick off next year.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can read a profile of Strange Lake and detailed information on the pilot and commercial-scale projects.
The German agreement followed an announcement in June of a new strategic partnership between the European Union and Canada. Both sides said they would "work together on more resilient, diversified, reliable energy supply chains, including clean tech value chains, LNG, renewables, safe and sustainable low-carbon hydrogen and other safe and sustainable low-carbon technologies, in view of increasing bilateral trade and strengthening energy security."
Carney had also met with representatives of the Metals & Minerals Industry to discuss the best way to address U.S. tariffs after Trump increased import duties on steel and aluminum from Canada to 50%, from a 25% rate set in March.
Canada's low-carbon steel producers could find a home in the European Union, which plans to impose extra duties on carbon-intensive imports starting next year. While the United States far outpaces Canada in steel production capacity, Canada has the lowest carbon footprint among major producers.
Energy data to June, meanwhile, show Canada may be making strides in trade diversification. All five PADD districts in the U.S. market combined for 4 million barrels per day (BBL/d) on average in Canada crude oil imports during June last year, about 12% more than current levels.
The Canadian government offered no explanation for the decline. Historically, about 3% of Canadian crude oil makes its way outside of North America to the Netherlands, United Kingdom, Germany, Spain, France, Norway, Italy and Hong Kong.
Canada wants to do more. An expansion to the Trans Mountain crude oil pipeline to 880,000 BBL/d offers some options through exports from British Columbia, and Carney, a former central bank official, has advocated for an expanded midstream network.
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) 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 over 200,000 current and future projects worth $17.8 Trillion (USD).
From timber to crude oil, the export-dependent Canadian economy is tied largely to the United States. Early-year trade disputes with U.S. President Donald Trump led to the resignation of former Prime Minister Justin Trudeau and prompted a Canadian race for trade diversity.
On Tuesday, Carney announced from Berlin that both sides established a new partnership on critical minerals.
"Canada has immense potential to be a leading and reliable global supplier of critical minerals, and Canada and Germany are natural strategic partners in this mission," Carney said. "As Germany's domestic demand for critical minerals grows and it diversifies its supply chains, Canadian workers and industries can be the strong, stable provider of these indispensable resources."
Coordinating through a joint task force, both sides would work on supply-chain integration while focusing on minerals such as lithium and germanium. That comes as the provincial government of Alberta allocated some USD$3.2 million to LithiumBank Resources of Vancouver to explore ways to extract battery-quality lithium out of the brine located in an underground aquifer in northern Alberta.
While in Berlin, delegates from Quebec-based Torngat Metals, a rare-earth specialist, and Germany's Vacuumschmelze, a global leader in the production of rare-earth permanent magnets, were among those signing memoranda of understanding on research collaboration.
Torngat is producing around 3.5 million tons of rare-earth ore at its Strange Lake facility in Ontario. Another facility in Quebec, the Becancour Rare Earths Beneficiation Plant, is under construction and could yield about 578,000 tons per year at full operation. A pilot plant will be completed in September, while construction of the commercial-scale portion could kick off next year.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can read a profile of Strange Lake and detailed information on the pilot and commercial-scale projects.
The German agreement followed an announcement in June of a new strategic partnership between the European Union and Canada. Both sides said they would "work together on more resilient, diversified, reliable energy supply chains, including clean tech value chains, LNG, renewables, safe and sustainable low-carbon hydrogen and other safe and sustainable low-carbon technologies, in view of increasing bilateral trade and strengthening energy security."
Carney had also met with representatives of the Metals & Minerals Industry to discuss the best way to address U.S. tariffs after Trump increased import duties on steel and aluminum from Canada to 50%, from a 25% rate set in March.
Canada's low-carbon steel producers could find a home in the European Union, which plans to impose extra duties on carbon-intensive imports starting next year. While the United States far outpaces Canada in steel production capacity, Canada has the lowest carbon footprint among major producers.
Energy data to June, meanwhile, show Canada may be making strides in trade diversification. All five PADD districts in the U.S. market combined for 4 million barrels per day (BBL/d) on average in Canada crude oil imports during June last year, about 12% more than current levels.
The Canadian government offered no explanation for the decline. Historically, about 3% of Canadian crude oil makes its way outside of North America to the Netherlands, United Kingdom, Germany, Spain, France, Norway, Italy and Hong Kong.
Canada wants to do more. An expansion to the Trans Mountain crude oil pipeline to 880,000 BBL/d offers some options through exports from British Columbia, and Carney, a former central bank official, has advocated for an expanded midstream network.
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) 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 over 200,000 current and future projects worth $17.8 Trillion (USD).
