The Government of Canada has released the 2024 Canadian Critical Minerals Strategy Annual Report, highlighting the country’s progress and further plans to expand the mining industry to produce critical minerals, including rare earth elements. this Electronic Engineering Times Natural Resources Canada’s Canadian Center of Excellence for Critical Minerals works to “identify and support strategic projects within the semiconductor supply chain.”
The report defines a critical mineral whose supply chain is threatened and which must have a reasonable chance of being produced in the country. Additionally, it must meet one or more of the following criteria: Essential to the Canadian economy and country SafetyCanada needs to achieve its net-zero goals, and it enables the country to become a sustainable strategic partner in global supply chains. Currently, there are 34 critical minerals on Canada’s list, but the following six are the government’s priority: lithium, graphite, nickel, cobalt, copper and rare earth elements.
Rare earth minerals are used to make the latest chips, but as their name implies, they are not as abundant as other minerals such as silicon or iron. Ongoing tensions between China and the rest of the Western world have even led the former to turn Strengthen export controls Its supply of these critical elements leads to an increase in the prices of these products. This resulted in Australia and other countries look for alternative sources These products help ease the supply crunch and keep semiconductor production going. In addition, lithium, nickel and copper are also key elements in the production of electric vehicles and the battery technology they require.
However, one industry executive said the measure was too little, too late for Canada, noting that it would take at least 10 to 15 years to establish new mines in the country due to strict regulations. CMC Microsystems CEO Gordon Harling said in a personal capacity that the United States, China and Australia are already leading the way in production and are “less likely to slow down for environmental reasons” than Canada. . “Another fly in the ointment is that a new battery chemistry could emerge at any time, eliminating the need for lithium,” he added.
Despite this, global demand for these elements continues to grow, primarily because we rely on them to produce next-generation technologies. Just as humanity once relied on bronze and iron to advance, we now rely on these vital minerals to propel our society forward. Global geopolitical threats to the supply chains of these critical elements mean we need as many resources as possible. This will help us avoid shortages like those experienced during the worst of the global pandemic in 2020.