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The the Critical Minerals Production Alliance is designed to secure stable supplies of key minerals for G7 economies. Credit: BJP7images\/Shutterstock.com. <\/p>\n
Canada will fast-track critical minerals projects valued at C$6.4bn ($4.56bn) as part of the Critical Minerals Production Alliance, according to Energy and Natural Resources Minister Tim Hodgson.\u00a0\u00a0<\/p>\n
The projects will be developed through 26 new investments and partnerships.\u00a0<\/p>\n
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The announcement regarding Canada\u2019s critical minerals sector was made following the two-day Group of Seven (G7) meeting of energy and environment ministers in Toronto.\u00a0<\/p>\n Hodgson stated that Canada, together with its G7 partners, will mobilise both public and private capital to accelerate the production of graphite, rare earth elements and scandium.\u00a0\u00a0<\/p>\n As part of the alliance, Canada has signed offtake agreements for scandium and graphite with Australian mining company Rio Tinto and Quebec-based Nouveau Monde Graphite.\u00a0\u00a0<\/p>\n Hodgson said: \u201cCanada is moving quickly to secure the critical minerals that power our clean energy future, advanced manufacturing and national defence. Through the Critical Minerals Production Alliance and the G7 Critical Minerals Action Plan, we are mobilising capital, forging international partnerships and using every tool at our disposal to build resilient, sustainable and secure supply chains.\u00a0\u00a0<\/p>\n \u201cThese investments are foundational to Canada\u2019s sovereignty, competitiveness and leadership in the global economy.\u201d\u00a0<\/p>\n The alliance is designed to secure stable supplies of key minerals for G7 economies.\u00a0<\/p>\n Minister of National Defence of Canada David J. McGuinty said: \u201cThese investments strengthen Canada\u2019s contributions to NATO and reinforce our collective resilience. By taking action now, we are safeguarding Canada and our allies against supply chain vulnerabilities and reducing dependence on unreliable sources.\u00a0<\/p>\n \u201cAs global demand for critical minerals accelerates, building secure, sustainable and resilient supply chains isn\u2019t just sound economic policy \u2013 it is vital to our shared security and prosperity.\u201d\u00a0<\/p>\n Minister of Housing and Infrastructure and Minister responsible for Pacific Economic Development Canada Gregor Robertson said: \u201cCritical minerals power the technologies and clean energy systems that drive Canada\u2019s future. Our investments in these projects reflect our commitment to innovation, economic growth and strong global partnerships \u2013 all essential to building the strongest economy in the G7.\u201d\u00a0<\/p>\n \n Sign up for our daily news round-up! Mining Technology Excellence Awards – The Benefits of Entering<\/p>\n Gain the recognition you deserve! The Mining Technology Excellence Awards<\/a> celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving industry advancements. Don\u2019t miss your chance to stand out\u2014submit your entry today!<\/p>\n
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