The world’s biggest miner predicts nine in 10 cars sold by 2040 will be EVs, helping to boost worldwide usage of key battery materials including nickel.
The move follows updated guidelines from Canada’s government, released Friday, which make it harder for foreign state-owned companies to pursue deals that target critical minerals.
The certificate of authorization represents an important milestone that would allow Critical Elements to advance project financing discussions to start mine construction.
Lawmakers heard testimony from industry groups that warned Canada will steadily lose investment to the US on everything from steel production to mine development if it doesn’t keep pace with its neighbor.