CHARTS: The coming critical minerals trade war is BRICS short of a load
"While a large number of countries around the world continue to talk about securing raw material supply, China is actually doing something about it."
Québec’s Minister of Energy and Natural Resources and Minister responsible for the Côte-Nord region unveiled on Tuesday the Québec Plan for the Development of Critical and Strategic Minerals 2020-2025 (QPDCSM).
The initiative signals the Canadian province’s intention to transition to a lower-carbon economy, and the plan will allow the deployment in Québec of value chains of critical and strategic minerals (CSMs) in respect for the principles of sustainable development, social acceptability and wealth creation for the regions, including local and Aboriginal communities, Québec Natural Resources and Energy said in a media release.
The implementation of the plan is based on a financial framework of C$90 million, (about $68 million) announced in the 2020-2021 Budget Plan in March.
Telecommunications, aerospace, renewable energy production, energy storage, the medical sector and transportation electrification are all high-growth sectors in which the CSM supply is vital, and the demand is expected to rise.
Québec plans to acquire new geoscientific knowledge, support R&D on CSM extraction, transformation, reclamation and recycling, and support the circular economy projects
Québec has established a list of 22 minerals considered critical and strategic, among them are lithium, graphite, nickel, cobalt and rare earth elements (REEs).
The province aims to increase its knowledge and expertise on critical and strategic minerals, deploy or optimize integrated sectors in partnership with the CSM-producing regions, contribute to the transition to a sustainable economy, and orientations include a total of 11 objectives and 22 actions that will encourage the expansion of CSM value chains.
Québec plans to acquire new geoscientific knowledge, sustain the creation of a CSM-specific scientific network, support R&D on CSM extraction, transformation, reclamation and recycling, and support the circular economy projects applied to the CSM sectors.
“Québec will contribute actively to the global energy and technological transitions, by wealth creation in a greener economy,” Jonatan Julien, Minister of Energy and Natural Resources and Minister responsible for the Côte-Nord region said in a media release.
“Today, we are launching this future-oriented project, which will allow us together to create more value here at home, while responsibly developing our natural resources and our expertise.”
