Western Canada United on Critical Minerals

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Written by Daniel Graeber for IIR News Intelligence (Sugar Land, Texas)

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Summary

Canadian Prime Minister Mark Carney has included critical minerals in a list of nation-building projects.

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Strategy of Diversity

As part of a strategy to diversify trade and advance nation-building projects, the government of British Columbia announced last week that Canada's western provinces have embraced a coordinated strategy for the development of critical minerals resources. According to Industrial Info Resources data, there are nearly 300 active capital critical minerals and related projects in western Canada, with a total investment value of more than US$120 billion. This includes 13 projects, worth US$8 billion, that are under construction.

Canada's critical minerals list includes 34 metals and minerals ranging from aluminum and antimony to vanadium and zinc (see graphic below).

In general, critical minerals are deemed essential to economic or national security, have vulnerable supply chains and are used in the manufacture of a variety of products ranging from mobile phones and solar panels to electric vehicle batteries, medical devices and defense applications.

The government of British Columbia said it's in the lead when it comes to critical-minerals development and on Thursday, joined forces with the leaders from Alberta, Saskatchewan, Manitoba, Yukon, Northwest Territories and Nunavut to tackle a comprehensive development strategy.

"This strategy reflects our commitment to continue working closely with our western and northern neighbors to support sustainable communities and a stronger economy," said Ted Laking, Yukon's minister of energy and mines. "This work includes investing in and developing dependable energy so that the North can grow and Canada can step up and strengthen the security and sovereignty of our nation."

It's All Part of Trade

Critical minerals are part of a strategy led by Prime Minister Mark Carney to diversify trade. He's also backing a handful of nation-building projects to offset the protectionist trade policy embraced by U.S. President Donald Trump.

The provincial arrangements focus on bolstering regional strengths, with port access on the Pacific catering to exports to Asia. Leaders are also keen to provide regulatory certainty for critical minerals and advancing nation-building infrastructure corridors.

Energy and metal products top Canada's revenue from international exports. By trading partner, the U.S. is Canada's largest by far, with trade value in April some 350% higher than the second-place United Kingdom.

In March, the provincial government approved $31 million in funding for upgrades to the electric power system feeding the Red Chris Mine in British Columbia, a copper and gold mine in the process of expansion. A detailed project report can be found in the Industrial Info Resources Global Market Intelligence (GMI) Metals & Minerals Project Database.

The Red Chris Mine was included in a list of the first projects delivered to a newly-minted Major Projects Office that's supporting Carney's trade strategy.

Key Takeaways

• Critical minerals are part of Carney's trade strategy.
• Industrial Info Resources is tracking US$120 billion worth of critical minerals-related projects in western Canada.

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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) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).