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Ottawa is vowing to cut red tape in the mining sector in an attempt to move large resource projects along faster, after facing intense criticism that Canada risks being left behind in the global scramble to secure critical minerals.
In the federal government’s long-awaited critical minerals strategy, unveiled on Friday, Ottawa acknowledged that getting a Canadian mine for the minerals into production can take up to 25 years. That is far slower than other international mining jurisdictions that Canada competes against, such as Australia, in which projects are developed in a fraction of that time.
“We recognize that, although responsible regulations are vital, complex regulatory and permitting processes can hinder the economic competitiveness of the sector and increase investment risk,” the federal government said in its release.
Ottawa says it will attempt to harmonize, co-ordinate, and streamline the permitting and environmental review process to avoid the duplication that often happens when the federal government and provinces are involved.
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