- Trump secretly sent Covid tests to Putin: Bob Woodward book
- Neural networks, machine learning? Nobel-winning AI science explained
- Boeing delivers 27 MAX jets in September despite strike
- Stock markets diverge as Hong Kong sinks, oil prices fall
- US trade gap narrowest in five months as imports slip
- Stay and 'you are going to die': Florida braces for next hurricane
- Geoffrey Hinton, soft-spoken godfather of AI
- Duo wins Physics Nobel for 'foundational' AI breakthroughs
- German 'Maddie' suspect could be free in 2025 after cleared of separate sex crimes
- China slaps provisional tariffs on EU brandy imports
- Duo wins Physics Nobel for key breakthroughs in AI
- German 'Maddie' suspect could be free soon after cleared of separate sex crimes
- China says to take anti-dumping measures against EU brandy imports
- China stocks rally fizzles on stimulus worries amid Asia retreat
- China stocks rally peters out on stimulus worries amid Asia retreat
- Taiwan's Foxconn says building world's largest 'superchip' plant
- Nobel literature jury may go for non-Western writer
- From Bolivia to Indonesia, deforestation continues apace
- China holds off on fresh stimulus but 'confident' will hit growth target
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Will Tesla's robotaxi reveal live up to hype?
- 'Invisibility' and quantum computing tipped for physics Nobel
- Oil prices extend gains on Mideast tensions, Wall Street falls
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- Mission to probe smashed asteroid launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Europe's asteroid mission Hera launches despite hurricane
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- What is microRNA? Nobel-winning discovery explained
- Weather may delay launch of mission to study deflected asteroid
- China to flesh out economic stimulus plans after bumper rally
- Asian markets track Wall St rally on US jobs data
- World marks anniversary of Oct. 7 attack on Israel
- Asian markets track Wall St rally on jobs data
- Cancer, cardiovascular drugs tipped for Nobel as prize week opens
- Tunisia incumbent Saied set to win presidential vote: exit polls
- 'Difficult day': Oct 7 commemorations begin with festival memorial
- Commemorations begin for anniversary of attack on Israel
- Tunisia voting ends as Saied eyes re-election with critics behind bars
- Drowned by hurricane, remote N.Carolina towns now struggle for water
- Two elephants die in flash flooding in northern Thailand
- Tunisia votes with Saied set for re-election
- Too hot by day, Dubai's floodlit beaches are packed at night
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- US trade chief defends tariff hikes when paired with investment
- EU court blocks French ban on vegetable 'steak' labelling
RBGPF | -0.46% | 60.52 | $ | |
RYCEF | 1.29% | 6.97 | $ | |
GSK | -1.56% | 38.035 | $ | |
NGG | 0.47% | 65.79 | $ | |
SCS | -0.27% | 12.915 | $ | |
BCC | -0.38% | 140.74 | $ | |
CMSC | -0.06% | 24.555 | $ | |
RELX | 0.93% | 46.47 | $ | |
RIO | -4.87% | 66.385 | $ | |
BCE | -0.74% | 33.285 | $ | |
CMSD | 0.04% | 24.801 | $ | |
VOD | -0.36% | 9.655 | $ | |
AZN | -0.34% | 76.61 | $ | |
JRI | 0.15% | 13.2 | $ | |
BTI | -0.14% | 35.15 | $ | |
BP | -3.48% | 32.025 | $ |
Canada to hasten permitting for critical minerals mines
Canada will look to quickly ramp up production of critical minerals that are vital to its transition away from climate-harming fossil fuels, according to a new strategy unveiled Friday.
The 58-page document notes that Canada is home to vast untapped deposits of lithium, graphite, nickel, cobalt, copper and rare earth elements.
But under a current framework, it adds, it can take from five to 25 years to get new mines approved and operational.
With global demand set to soar and China controlling much of existing supplies, Natural Resources Minister Jonathan Wilkinson said it is paramount for Canada and its allies "to establish and maintain resilient critical minerals value chains."
The new strategy, he added, "sets out a course for Canada to become a global supplier of choice for critical minerals and the clean digital technologies they enable."
Critical minerals are used, for example, in electric vehicle batteries, solar panels, wind turbines and semiconductors.
They are "the building blocks for the green and digital economy. There is no energy transition without critical minerals," says the strategy document.
New mine proposals typically undergo a patchwork of rigorous environmental review and permitting process. Wilkinson vowed to streamline that process, including eliminating duplicate reviews at both the federal and provincial levels.
"We recognize that, although responsible regulations are vital, complex regulatory and permitting processes can hinder the economic competitiveness of the sector and increase investment risk for proponents," says the document.
The new strategy is not backed by any new funding, but in its 2022 budget, the federal government earmarked Can$3.8 billion (US$2.8 billion) over eight years for the sector -- including a 30 percent tax credit to spur exploration.
Ottawa also acknowledges in the document the need for new infrastructure such as roads and ports in order to access and exploit the deposits.
To counter China's supremacy in critical minerals, Canada, the United States and its allies have committed to boosting extraction, processing and recycling of critical minerals.
In late October, Canada also tightened its investment rules to make it more difficult for foreign state-owned companies to buy into its critical minerals sector, following a backlash over Chinese investments in Canada.
Such deals, the government said at the time, would only be approved on "an exceptional basis."
It has also recently ordered three Chinese resources companies to divest their stakes in Canadian critical minerals firms.
Ch.Lefebvre--CPN