All roads lead to more federal incentives and regulatory enhancements in the critical minerals sector
According to a recent draft discussion paper on Canada’s Critical Minerals Strategy, the strategy will address five core objectives: support economic growth and competitiveness, promote climate action and environmental protection, enhance global security and partnerships with allies, advance Indigenous reconciliation, and foster diverse and inclusive workforces and communities.
The value chain for critical minerals includes five segments: exploration, mining, processing, manufacturing and advanced manufacturing, and recycling, and there is an opportunity for investors in every stage of that value chain. Therefore, the Canadian government has committed $4 billion in Budget 2022 to address the entire critical minerals value chain.
“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,” Jonathan Wilkinson, Minister of Natural Resources.
Additionally, Deputy Prime Minister Chrystia Freeland signaled in a speech this week in Washington, D.C. that the federal government is prepared to address regulatory hurdles to economic development in Canada’s natural resource sector.
In this issue’s ESG column, Carolyn Burns reflects on critical minerals strategy, and how we can accelerate project development and advance reconciliation.
Benedikt Sobotka argues on pages 42-43 that with battery demand set to explode over the coming decade, businesses, governments, and NGOs must renew their efforts to ensure the value chain is scaled up in a responsible, circular, and sustainable manner.
Also in this issue, we continue examining recent technologies that could maximize the production of critical minerals such as lithium on pages 32-35.
This issue also features several articles on underground construction, ventilation, and communication, with a notable contribution from Cambrian College’s Centre for Smart Mining on pages 30-31, along with lawyers’ advice on investments in mining in case you are having trouble with international investments in foreign countries.
Our virtual symposium: “Reimagine Mining,” on Oct. 12, was an immense success with almost 1,200 delegates registered. In case you missed it, we will have detailed coverage of the water management sessions in our January 2023 issue, including the answers to almost 40 questions that Dr. Chris Kennedy, Teck Resources’ water director, was asked by the audience.
On a personal note, I enjoyed my first visit to an underground mine during the “Mining Transformed 2022,” the world’s first technology exhibition in an underground operating mine at the end of September. The NORCAT Underground Centre is a state-of-the-art operating mine. Mining Transformed 2022 provided a unique opportunity for more than 40 exhibitors and the visitors to connect underground amongst live demonstrations of emerging technologies that are poised to transform the global mining industry. Kudos to Don Duval, CEO of NORCAT, and his team for organizing such a successful event.