How the Trump administration can support lithium independence
America has become unacceptably reliant on foreign competitors for critical materials and manufacturing processes.
Canada needs to quickly ramp up support for the nation’s critical minerals industry to counter a “gap” caused by its recent crackdown on foreign investment, says Frontier Lithium Inc.’s top executive.
The government’s move to limit investment from state-owned entities into Canada’s critical minerals resources is causing stress in the mining industry, Chief Executive Officer Trevor Walker said Tuesday in a BNN Bloomberg TV interview. Walker, whose firm is exploring for lithium in northern Ontario, cited the “tightening” of China investment into Canada as of particular concern.
“That’s a gap that needs to be filled and can only be filled by government,” he said. “And that has to take place quickly.”
The federal government strengthened rules around foreign investments in critical minerals last month and ordered three Chinese firms to sell their stakes in a trio of Canadian lithium explorers. More than two dozen Canadian miners have investors linked to China, according to data compiled by Bloomberg.
(By Jacob Lorinc)
3 Comments
Volker Moeller
The photo shows Avalon’s Separation Rapids lithium project, not Frontier Lithium’s property.
BOB HALL
Good catch! Often these things just slip by but writers should use a little more effort.
BOB HALL
The recent Canadian governments have made some disastrous moves in natural resources. Restricting investment by national entities is a GOOD move, but money has to come from some place. I suggest significant tax credits for investors who will be supporting exploration and development. It has been done before. 1) Arctic development – although that ended poorly. 2) cattle production at the feeder level. It is a way to get non government dollars in play.