Situation critical for Canadian minerals extraction – by Nelson Bennett (Business In Vancouver – May 20, 2022)

Global demand for energy transition resources creating huge opportunity for B.C. miners

In 2014, the Stephen Harper Conservative government rejected the New Prosperity mine project, said to be one of Canada’s largest undeveloped copper deposits.

Now, the Justin Trudeau government is so anxious to secure a domestic supply of critical minerals and metals, including copper, that it earmarked $3.8 billion in the recent federal budget to implement a new critical minerals strategy.

The strategy, which Parliament hasn’t formally implemented yet, will cover 31 critical metals and minerals needed for energy transition, defence, aerospace, communications and high tech. The B.C. government is also expected to develop a critical metals strategy.

The federal strategy’s goal is not only to secure a domestic supply of critical minerals, but also to develop a full supply chain, which may include development of greater refining, smelting, manufacturing and recycling capacity. “The opportunity for British Columbia is tremendous,” said Michael Goehring, president and CEO of the Mining Association of British Columbia.

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