Today, the Honourable Jonathan Wilkinson, Canada’s Minister of Natural Resources, released Canada’s Critical Minerals Strategy in Vancouver.
The Strategy is backed by up to $3.8 billion in federal funding allocated in Budget 2022, in addition to previous allocations made in 2021. The proposed funding covers a range of industrial activities, from geoscience and exploration to mineral processing, manufacturing and recycling applications, including support for research, development and technological deployment.
Specifically, allocations from Budget 2021 and Budget 2022 include the following:
The Strategy maps out how Canada can seize the critical minerals opportunity in a way that accomplishes five key outcomes:
The Strategy focuses on opportunities at every stage along the value chain for Canada’s 31 critical minerals, from exploration to recycling. Beyond the funding elements, the Strategy outlines concrete measures to accelerate regulatory processes at the sub-national, national and international levels; to ensure meaningful and ongoing Indigenous partnership throughout the value chain; and to ensure that the Strategy is in line with Canada’s climate and nature protection goals.
The comprehensive focus on funding and permitting critical mineral-related activities creates opportunity for Canadian businesses. As the Strategy notes, there is no global energy transition without accelerated activity in the critical minerals space.
Sussex is engaged in this evolving landscape and is keen to assist companies on the supply, processing, demand and enabling infrastructure sides of the critical minerals economy.
Devin McCarthy, Senior Vice President and Federal Practice Group Lead
dmccarthy@sussex-strategy.com
Mark Olsheski, Vice President, Energy
molsheski@sussex-strategy.com
Dan Lovell, Senior Associate, Federal Government Relations
dlovell@sussex-strategy.com
Roberto Chavez, Senior Associate, Federal Government Relations
rchavez@sussex-strategy.com