• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 16 hours Solving The Space Problem For America’s Solar Industry
  • 4 hours How Far Have We Really Gotten With Alternative Energy
  • 13 hours Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 8 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Investment in renewables tanking
  • 9 days "Mexico Plans to Become an Export Hub With US-Drilled Natural Gas" - Bloomberg - (See image)
Why Russia Wants To Revive The TAPI Pipeline

Why Russia Wants To Revive The TAPI Pipeline

The revival of the Turkmenistan–Afghanistan–Pakistan–India…

Putin And Saudi Crown Prince Discuss OPEC+ Oil Deal

Putin And Saudi Crown Prince Discuss OPEC+ Oil Deal

Vladimir Putin and Mohammed bin…

Canada To Invest $1.6 Billion In Battery Metals Supply

Canada will spend some $1.6 billion (C$2 billion) on building a battery mineral supply chain, Reuters has reported, citing two sources from the federal government in Ottawa.

Nickel, lithium, cobalt, and magnesium will be at the heart of the plan, which would involve a boost in both production and processing of these metals and minerals, the sources said.

The plan, likely to be unveiled with this year's budget on Thursday, is the latest signal that North American economies are waking up to the crucial nature of the mineral supply issue for the energy transition. The United States and Canada both have very ambitious transition goals that feature EVs heavily, but until recently, considerations about the security of battery mineral supply appeared to be secondary.

Even as they take center stage, however, challenges remain. As a Reuters analysis from December last year points out, the Biden administration and the Trudeau government are both very much in favor of EVs and are offering generous incentives to carmakers to make EVs and convince people to buy them. They have, however, fallen short at the start of the supply chain: mining.

PolyMet's Minnesota copper-nickel mine woes are a case in point. In Canada, such a case is Bill C-69, which, according to this Mining.com article, "broadens the scope of the assessment process and adds more consultation with the public and particularly indigenous groups" for new mining projects.

Yet, at the same time, the government in Ottawa seems to be aware of the importance of mining for the advancement of its EV plans.

"There are some particular projects that we are looking at and working on at the present time," said Natural Resources Minister Jonathan Wilkinson recently, adding that all projects, "whether they're extraction or processing, need to be accelerated significantly, and that's what the critical mineral strategy will be about."

By Irina Slav for Oilprice.com


More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News