A new report released on Wednesday (June 11) by Canada’s Climate Institute suggests Canada risks missing out on a C$12 billion market for critical minerals should the government not enact policy to drive investment in Canada’s mining sector. The report outlines a growing need for minerals like copper, cobalt, lithium, nickel, graphite and rare earths, all of which are found in Canada. These critical minerals are all used to produce goods needed for the energy transition, from photovoltaics to electric vehicles. Overall, to meet this demand, the mining sector will require an estimated US$480 billion to US$750 billion in investment globally. To remain competitive, the institute suggests Canada will need to generate between C$30 billion and $65 billion in investments in upstream projects between now and 2040. To reduce investor risk and ensure Canada and local communities see a net benefit, the report makes several suggestions aimed at different levels…
