TORONTO, March 6, 2023 /CNW/ – There is no global energy transition without accelerated activity along the critical minerals value chain. Critical minerals are not just the building blocks of clean technology like solar panels and electric vehicle batteries — they are also a key ingredient for creating middle-class jobs and growing a strong, globally competitive Canadian economy.
The move toward a global net-zero economy is generating a significant increase in demand for critical minerals and the clean technologies they enable around the world, creating a generational opportunity for Canadian workers and Canadian businesses. Concurrent geopolitical dynamics have caused like-minded countries to reflect on the need to have stable and secure supplies of these resources and technologies — produced in a way that is compatible with science-driven climate and nature goals.
Today, the Honourable Jonathan Wilkinson, Canada’s Minister of Natural Resources, and Nusrat Ghani, United Kingdom Minister of State at the Department for Business and Trade, announced a Canada–United Kingdom (U.K.) collaboration through a Critical Minerals Supply Chain Dialogue.
As close allies, Canada and the U.K. have strong historical ties of collaboration and already actively pursue international partnership projects on critical minerals. Both countries have developed and released their own Critical Mineral Strategies that share similar values and goals.
The focus of the dialogue is to deepen Canada–U.K. engagement and cooperation on critical minerals, prioritize critical mineral security of supply and joint economic prosperity, and attain high environmental, social and governance standards (ESG) and innovation throughout the value chain. Both countries are committed to ensuring critical mineral markets are diverse, ethical, fair and transparent from beginning to end. The dialogue was launched at the Prospectors and Developers Association of Canada (PDAC) 2023 Convention, the world’s leading conference on mineral exploration.
Canada and the U.K. will work together to pursue the following shared objectives:
- Leverage the strengths of the two countries to promote skill-sharing and research and development between U.K. and Canadian industry, academia and governments, along with other close international allies, to spur supply chain innovation. This cooperation will build new connections in upstream and midstream segments of critical mineral supply chains, extending to downstream reuse and recycling.
- Promote and create integrated, safe supply chains for critical minerals between Canada and the U.K., including through information sharing, facilitating investment, developing business ties between Canadian and U.K. firms, and sharing supply chain resilience analysis.
- Drive higher ESG performance across all elements of the critical minerals supply chain, through government communication, active promotion within our respective sectors and close cooperation in international fora.
Today’s announcement builds on previous collaboration. Last year at COP15 in Montreal, Canada and the United Kingdom joined the Sustainable Critical Minerals Alliance — along with Australia, France, Germany, Japan and the United States — to drive the global uptake of environmentally sustainable and socially inclusive and responsible mining, processing and recycling practices and responsible critical minerals supply chains.
By strengthening relationships with our international partners and supporting the development of secure and reliable low-carbon supply chains, we will continue to help create good jobs in communities across the country, strengthen our economy and build a cleaner, more prosperous, Canada for our kids and grandkids.
“Canada and the United Kingdom share similar goals and values. By collaborating on the development of the critical mineral supply chains that we need to achieve our net-zero future, we can reinforce global energy security, advance the fight against climate change and ensure significant economic opportunity and support good jobs on both sides of the Atlantic. Today’s announcement is a step forward toward a sustainable and secure clean energy ecosystem.
The Honourable Jonathan Wilkinson
Canada’s Minister of Natural Resources
“Every single one of us depends on critical minerals to make the technology we use in our everyday lives. With a dash for minerals to meet national business needs, it is essential we work to build more resilient supply chains for critical minerals. Through this Dialogue, we will work with one of our closest global allies in Canada to build and strengthen our supply chains and boost innovation, securing jobs and growing the UK economy in the process.”
United Kingdom Minister of State at the Department for Business and Trade
- The International Energy Agency forecasts the global demand for critical minerals will grow four-fold from 2020 to 2040.
- Canada currently produces 60 minerals and metals at 200 mines and 6,500 sand, gravel and stone quarries across the country.
- Canada is home to almost half of the world’s publicly listed mining and mineral exploration companies, with a presence in more than 100 countries and a combined market capitalization of $520 billion.
Joint Statement of Intent between Canada and the United Kingdom on Collaboration on Critical Minerals
Canadian Critical Mineral Strategy
Critical Mineral Strategy UK
Countries Commit to the Sustainable Development and Sourcing of Critical Minerals
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SOURCE Natural Resources Canada