1/22/2024 0 Comments Clearview cleaning rich m atonisIt also is the world’s second-largest producer of niobium, an important metal for the aerospace industry, and the fourth-largest producer of indium, a key input in semiconductors and many materials needed for advanced vehicle manufacturing, according to Canada’s “ critical minerals strategy” released last year. And China’s dominance of global refining is around 35 percent for nickel, 50 to 70 percent for lithium and cobalt, and nearly 90 percent for rare earth elements, according to the IEA.Ĭhinese companies also have made substantial investments in overseas assets in Australia, Chile, Congo and Indonesia, giving them more of a power hold.Ĭanada is the only Western nation that has an abundance of cobalt, graphite, lithium and nickel, which are essential for electric vehicles and their batteries. Two countries - Congo and China - accounted for some 70 percent and 60 percent of global production of cobalt and rare earth elements, respectively, in 2019. The same IEA report found an average gap of 16.5 years between the discovery of a mineral resource and its first production. However, an onshore wind facility also requires 9 times (or 900 percent) more mineral resources than a gas-fired plant.īut ramping up production quickly is not easy. Much of that is driven by the transition to electric vehicles, which require six times (or 600 percent) more mineral inputs than a conventional car. The Paris-based International Energy Agency estimates that demand for critical minerals could increase by 400 percent to 600 percent by 2040, depending on how aggressively governments move to reduce carbon emissions that contribute to global climate change. While there is potential for the United States to be a globally significant lithium producer, in other areas, such as nickel and graphite, there is likely to be “some real, sustained import dependency moving forward,” said Brad Simmons, a former Energy Department official who is now senior director for energy and resources at BowerGroupAsia. “It’s an area that’s really important, and that is not just cobalt and lithium and graphite, it’s also things like uranium and nuclear fuel cycle.” “There are going to be lots of conversations around critical minerals,” Canadian Natural Resources Minister Jonathan Wilkinson told reporters Wednesday on the eve of Biden’s visit. national defense.Īny strategy will have to take into account the long time between discovery and production - 16.5 years by some estimates - and the political and environmental costs of mining and processing. That could include direct funding through a Cold War-era law meant to bolster U.S. government cash that would help jump-start private sector investment to develop new mines and processing facilities. Canadian resources could also come into play as Biden and European Commission President Ursula von der Leyen move ahead with efforts to bolster critical minerals supply chains.Ĭanada is hoping for an infusion of U.S. Last year, Ottawa joined the U.S.-led Minerals Security Partnership with eight other countries and the European Union. Resource-rich Canada is viewed as a natural partner in an effort to ease dependency on China. “There are going to be lots of conversations around critical minerals,” Canadian Natural Resources Minister Jonathan Wilkinson told reporters Wednesday.
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