In
The Strategy recognizes that critical minerals represent a generational opportunity for
The Strategy aims to boost the production and processing of the country's 31 identified critical minerals; however, six minerals are prioritized in the Strategy for their distinct potential to spur Canadian economic growth and their necessity as inputs for priority supply chains. These six minerals are: lithium, graphite, nickel, cobalt, copper and rare earth elements.
For a mineral to be deemed "critical," it must be:
-
essential to
- required for our national transition to a low-carbon economy; or
- a sustainable source of highly strategic critical minerals for our partners or allies.
- driving research, innovation and exploration;
- accelerating project development;
- building sustainable infrastructure;
- advancing reconciliation with Indigenous Peoples;
- growing a diverse workforce and prosperous communities; and
- strengthening global leadership and security.
- a 30 per cent Critical Mineral Exploration Tax Credit for targeted critical minerals. This new tax credit would be available to investors under certain flow-through share agreements. It is applicable to specific critical minerals, including nickel, lithium, cobalt, graphite, copper, rare earth elements, uranium and others;
- approximately
$48 million for targeted upstream critical mineral R&D throughCanada's research labs; - approximately
$144 million for deployment of technologies and materials to support critical mineral development for upstream and midstream segments of the value chain; - approximately
$21 million to support the CMCE to develop federal policies on critical minerals and to assist project developers in navigating regulatory processes and federal support measures; $40 million to support other northern regulatory processes in reviewing and permitting critical mineral projects; and$1.5 billion for theStrategic Innovation Fund (SIF) to support critical minerals projects, with prioritization given to advanced manufacturing (such as electric vehicle manufacturing), processing and recycling applications.- ongoing engagement with Indigenous Peoples via roundtables, workshops and meetings on Indigenous priorities related to critical mineral value chains and other cross-cutting topics (e.g., the National Benefit Sharing Framework);
- Northern Regulatory Initiative Engagement;
- regional energy and resource tables;
- industry critical minerals roundtables;
Canada -U.S. Joint Action Plan on Critical Minerals Collaboration;Critical Minerals Working Group under the Canada-Japan Energy Policy Dialogue;Canada-EU Strategic Partnership on Raw Materials;- Government of
Canada FDI Working Group .
In its course to become a global supplier of choice for critical minerals and the clean digital technologies they enable, the federal government has allocated approximately
Objectives
The initiatives outlined in the Strategy will require implementation and refinement in collaboration with provincial, territorial, Indigenous, industry and other Canadian and institutional partners.
The Strategy addresses six core objectives, namely:
In order to develop its listed objectives, the government has earmarked:
-
approximately
The Strategy also summaries the results of the federal government's Mines to Mobility initiatives launched in 2019 to build a sustainable battery innovation and industrial ecosystem in
Next Steps
The Strategy is intended to be an evergreen document - forward looking, iterative and long-term. Its successful implementation will require a co-ordinated and multi-pronged approach in collaboration with multiple partners and stakeholders.
The following are some of the strategic partnerships and engagement forums that the federal government proposes will help inform implementation of the Strategy over the long-term:
-
Federal-Provincial-Territorial (FPT) Task Team on
It will remain to be seen, of course, whether the objectives and other goals set forth in the Strategy will be achieved to any meaningful degree. Hopefully, but time will only tell.
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