Critical mining was the highlight of 2022

While the world recovers from the Covid-19 pandemic, the year 2022 has been a good year for the “critical mining” sector in Canada supported by several announcements by the federal and provincial governments.

Developed in consultation with provincial, territorial, and industry experts, Canada now has a list of minerals it considers to be “critical.” Currently, it consists of 31 minerals; however, the list will be reviewed every three years and revised if needed.

Most recently, Canada strengthened its guidelines to protect its “critical mining” sector from foreign state-owned enterprises. The announcement of approximately $4.0 billion in support over eight years to implement its first critical minerals strategy together with the federal government’s announcement for divesting ownership of some Canadian mining companies held by foreign state-owned companies are both part of this trend.

In March 2022, the government of Ontario announced its first-ever critical minerals strategy, which aims to secure Ontario’s position as a global leader of responsibly sourced critical minerals. Turn over to page 8 where our law column discusses the new measures in the federal budget 2022 for mining companies and the new super flow-through financing tax credit for investors.

The next 12 months are expected to be challenging when it comes to inflation and supply chain constraints. Building economic development opportunities with Indigenous partners and developing a skilled labour force should continue to be a priority, readers can get insight into a year in review from EY center of excellence advisors and Max Luedtke from ABB industries on pages 13 and 24, respectively.

We also shed some light on Quebec plan for critical and strategic minerals on page 16. Additionally, this issue features articles on mining in North America including two interviews with the CEOs of “responsible” Canadian mining companies on pages 32 and 38. Gordon Feller’s article about mining in Mozambique is on page 30.

Finally, as part of our ongoing discussion on rebranding mining, it is time to start using the term “critical mining” to refer to the mining of those critical minerals. Our readers are cordially invited to weigh in about the use of this term by sending letters to the editor at TElbokl@canadianminingjournal.com.