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Ontario developing strategy to capitalize on rare minerals

Ontario developing strategy to capitalize on rare minerals

With the growing demand for precious minerals used in electric vehicles and electronics, Ontario has released a Critical Minerals Strategy.

“The Critical Minerals Strategy is our government’s blueprint to connect industries, resources and workers in our province’s north to the future of manufacturing in the south as we build up home-grown supply chains,” said Premier Doug Ford. “Doing so has never been more important as we secure game-changing investments in our auto sector to build the electric vehicles and batteries of the future using Ontario minerals.”

The Critical Minerals Strategy is a five year roadmap to: better connect the mines in the north with the manufacturing sector in the south, in particular to Ontario-based electric vehicle (EV) and battery manufacturing; tap into new and growing markets, including electric vehicles, batteries, telecommunications and national defence.

The strategy focuses on six priorities:

  • Enhancing geoscience information and supporting critical minerals exploration
  • Growing domestic processing and creating resilient local supply chains
  • Improving the regulatory framework to make the mining industry more globally competitive
  • Investing in innovation, research and development
  • Building economic development opportunities with Indigenous partners
  • Growing labour supply and developing a skilled labour force

Critical minerals have a variety of strategic uses, including smartphones, batteries for EVs, pharmaceuticals and solar cells. The Critical Minerals Strategy will strengthen Ontario’s supply chains, attract new investment in the mining and manufacturing sectors and build economic development opportunities for Indigenous partners.

Said Trent Mell, President and CEO of Electra Battery Materials ” With the rapid transition of North America’s automotive sector towards electric vehicles coupled with growing consumer demand for zero emission vehicles, now is the right time for the province to capitalize on its abundant critical minerals and proximity to markets. We have chosen to build a Battery Materials Park in Ontario because of these strategic advantages, and we applaud the government for their foresight in releasing the critical minerals strategy.”

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