Canada may be considered as an impending superpower in mining as the country contains vital minerals that will fuel the defining technologies of this century. The technology ranges from electric vehicles to smartphones and solar panels. It was a prominent theme during Prime Minister Just Trudeau’s recent visit to Washington.
Despite this, Canada is still very behind China and other countries in the mining of these minerals. A Canadian-born trade consultant based in Washington, D.C. said “we’ve been asleep for years and years and years and have chosen not to act,… And the Chinese have had a deliberate strategy for 25 years to consolidate ownership in all critical minerals.”
Now, most of the world has realized the importance of minerals such as lithium and cobalt. According to The International Energy Agency, it predicts demand for critical minerals will double by 2040, or even quadruple if nations get serious about the Paris climate commitments. Even the sales of electric vehicles are expected to grow tenfold this decade.
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