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Researched by Industrial Info Resources (Sugar Land, Texas)--Canada's Metals & Minerals Industry is benefiting from new and old demand drivers: The energy transition is spurring growth in critical minerals, and North America's love of diamonds is as strong as ever. Industrial Info is tracking more than US$3.8 billion worth of projects across Canada's Metals & Minerals Industry that have a medium-to-high (70% or greater) likelihood of beginning construction before the end of the year, with about two-thirds of the total attributed to projects in the mining sector.
Click on the image at right for a graph detailing the top 10 parent companies for Canadian Metals & Minerals Industry projects with a good chance of kicking off before the end of 2023.
The global transition to low-carbon energy sources has driven much of the recent surge in activity in North America's mining sector, with Quebec a top destination for the extraction and refining of critical minerals such as lithium and copper. EcoPro Company Limited (Cheongju-si, South Korea), the world's second-largest cathode producer, recently initiated site preparation for its US$887 million cathode material plant in Becancour, Quebec, which is designed to produce 45,000 tons per year of materials for lithium-ion batteries used in Ford Motor Company's (NYSE:F) (Dearborn, Michigan) electric vehicles (EVs).
Production at EcoPro's facility is expected to begin in mid-2026. Ford says it will purchase high-quality nickel cobalt manganese (NCM) from the facility to improve the driving range of its EVs. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more from a detailed project report.
Volta Energy Solutions, a subsidiary of Solus Advanced Materials Company Limited (South Korea), is preparing for a US$515 million restart and expansion of a copper foil plant in Granby, Quebec, which will provide material for Tesla Incorporated's (NASDAQ:TSLA) (Austin, Texas) 4680 battery cell. The company expects to produce about 25,000 tons per year of copper foil initially, with a proposed expansion possibly taking production up to 63,000 tons per year. Subscribers can read detailed reports on the initial phase and its proposed expansion.
Quebec's producers of rare-earth elements also are enjoying a resurgence in demand, with Torngat Metals Limited (Montréal, Québec) preparing to begin construction at its US$650 million Strange Lake Mine and Processing Plant in the province's northeastern area. Following a significant investment last year from an affiliate of Cerberus Capital Management LP (New York, New York), Torngat aims to produce 11,500 tons per year of dysprosium, praseodymium and other materials over a 25-year mine life. The company also hopes to build a 578,000-ton-per-year beneficiation plant in Becancour following completion to produce a mixed rare-earth solution. Subscribers can read detailed reports on the mine and the proposed beneficiation plant.
"Strange Lake is the largest project in North America containing the most important rare earths for the transition to electrification and a low-carbon economy," Torngat said in a press release. "The investment will enable the completion of a pre-feasibility study and a bankable feasibility study, creating a path to the separation of specific rare earths by mid-decade, followed by mine site construction and production."
One of Canada's most remote areas has the potential to produce one of the most widely sought mined materials: diamonds. Earlier this year, Burgundy Diamond Mines Limited (Calgary, Alberta) obtained full operating interest in the Ekati Diamond Mine in central Northwest Territories, following its purchase of Arctic Diamond Company Limited. Burgundy aims to use an underwater remote mining method to generate 150,000 tons of diamond ore bodies, which are called "kimberlite pipes," from the lake-covered area. Subscribers can learn more from a detailed project report.
Burgundy is the third company to own the mine since 2017, according to CBC, and its purchase was applauded by First Nations leaders and others in the Northwest Territories, who lobbied for one of the area's major employers to stay open. "I think the North[west Territories] desperately needs these diamond mines to continue," said Kim Truter, the chief executive officer of Burgundy, in an interview with CBC. "We know that some of the other ones will be closing down ... but I'm very excited about the fact that we could extend this mine's life and continue jobs, royalties, taxes, etc. for the North."
He added: "Conceptually, we could easily extend the mine's life of 15 years if we are able to find a way to develop some of those [kimberlite] pipes, or go back to some of the old pipes and mine them with underground mining or other methods."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for projects in Canada's Metals & Minerals Industry that have a 70% or greater likelihood of beginning construction before the end of the year.
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).
Click on the image at right for a graph detailing the top 10 parent companies for Canadian Metals & Minerals Industry projects with a good chance of kicking off before the end of 2023.The global transition to low-carbon energy sources has driven much of the recent surge in activity in North America's mining sector, with Quebec a top destination for the extraction and refining of critical minerals such as lithium and copper. EcoPro Company Limited (Cheongju-si, South Korea), the world's second-largest cathode producer, recently initiated site preparation for its US$887 million cathode material plant in Becancour, Quebec, which is designed to produce 45,000 tons per year of materials for lithium-ion batteries used in Ford Motor Company's (NYSE:F) (Dearborn, Michigan) electric vehicles (EVs).
Production at EcoPro's facility is expected to begin in mid-2026. Ford says it will purchase high-quality nickel cobalt manganese (NCM) from the facility to improve the driving range of its EVs. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can learn more from a detailed project report.
Volta Energy Solutions, a subsidiary of Solus Advanced Materials Company Limited (South Korea), is preparing for a US$515 million restart and expansion of a copper foil plant in Granby, Quebec, which will provide material for Tesla Incorporated's (NASDAQ:TSLA) (Austin, Texas) 4680 battery cell. The company expects to produce about 25,000 tons per year of copper foil initially, with a proposed expansion possibly taking production up to 63,000 tons per year. Subscribers can read detailed reports on the initial phase and its proposed expansion.
Quebec's producers of rare-earth elements also are enjoying a resurgence in demand, with Torngat Metals Limited (Montréal, Québec) preparing to begin construction at its US$650 million Strange Lake Mine and Processing Plant in the province's northeastern area. Following a significant investment last year from an affiliate of Cerberus Capital Management LP (New York, New York), Torngat aims to produce 11,500 tons per year of dysprosium, praseodymium and other materials over a 25-year mine life. The company also hopes to build a 578,000-ton-per-year beneficiation plant in Becancour following completion to produce a mixed rare-earth solution. Subscribers can read detailed reports on the mine and the proposed beneficiation plant.
"Strange Lake is the largest project in North America containing the most important rare earths for the transition to electrification and a low-carbon economy," Torngat said in a press release. "The investment will enable the completion of a pre-feasibility study and a bankable feasibility study, creating a path to the separation of specific rare earths by mid-decade, followed by mine site construction and production."
One of Canada's most remote areas has the potential to produce one of the most widely sought mined materials: diamonds. Earlier this year, Burgundy Diamond Mines Limited (Calgary, Alberta) obtained full operating interest in the Ekati Diamond Mine in central Northwest Territories, following its purchase of Arctic Diamond Company Limited. Burgundy aims to use an underwater remote mining method to generate 150,000 tons of diamond ore bodies, which are called "kimberlite pipes," from the lake-covered area. Subscribers can learn more from a detailed project report.
Burgundy is the third company to own the mine since 2017, according to CBC, and its purchase was applauded by First Nations leaders and others in the Northwest Territories, who lobbied for one of the area's major employers to stay open. "I think the North[west Territories] desperately needs these diamond mines to continue," said Kim Truter, the chief executive officer of Burgundy, in an interview with CBC. "We know that some of the other ones will be closing down ... but I'm very excited about the fact that we could extend this mine's life and continue jobs, royalties, taxes, etc. for the North."
He added: "Conceptually, we could easily extend the mine's life of 15 years if we are able to find a way to develop some of those [kimberlite] pipes, or go back to some of the old pipes and mine them with underground mining or other methods."
Subscribers to Industrial Info's GMI Project Database can click here for a full list of detailed reports for projects mentioned in this article, and click here for a full list of related plant profiles.
Subscribers can click here for a full list of reports for projects in Canada's Metals & Minerals Industry that have a 70% or greater likelihood of beginning construction before the end of the year.
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).
