USM and Metalloinvest Holding Co.’s iron ore mine plan to make 2 million tons of hot-briquetted iron per year.

Around a dozen companies are said to make their next investments elsewhere.

In 2020, Chinese mines produced 110,000 tonnes of rare earths, which is more than 55% of total global mining output.

The Vancouver- based clean-energy startup is developing a zinc-based hybrid flow battery for large-scale electricity storage.

The Mining Association of Canada says the total 10-year projected value of $82 billion for new projects remains nearly 50% below the 2014 level of $160 billion.