UK to sign critical minerals partnership with Saudi Arabia
Britain needs a secure, long-term supply of critical minerals, such as copper, lithium and nickel.
The leader of Canada’s most populous province is pitching a “renewed strategic alliance” with the US on critical minerals, as President-elect Donald Trump threatens crippling tariffs on the northern nation.
Ontario Premier Doug Ford unveiled Monday a new plank in a broader strategy he calls “Fortress Am-Can.” The plan aims to invest in and build out a critical minerals supply chain in North America. It advocates for expanding capacity to process metals and minerals mined on the continent, while accelerating federal and provincial timelines to permit and approve mining projects.
“The success of Fortress Am-Can depends on the critical minerals needed for new technologies, including advanced military technologies that will define geopolitical and economic security for the next century,” Ford said in a statement.
The plan comes as Canada and the US face a looming trade war, as Trump threatens to levy 25% tariffs on Canadian goods when he takes office next week. Ford is among many Canadian politicians that have sought to protect domestic industries by proposing trade cooperation.
At a news conference in Toronto on Monday, Ford reiterated his interest in shipping more critical minerals and energy to the US, though he warned of retaliation if Trump makes good on his threats. Ford previously floated cutting off Ontario’s electricity exports to the US.
“Make no mistake about it, if they’re coming full-tilt at us, I won’t hesitate to pull out every single tool we have until they can feel the pain. But that’s the last thing I want to do,” Ford said Monday.
Canada produces more than 60 minerals and metals, has more than 200 mines and is home to almost half of the world’s publicly listed mining and minerals exploration companies. However, the time it takes to permit and approve mines in Canada has become a deterrent for miners, as timelines can extend as long as 25 years.
China, meanwhile, controls the bulk of the world’s processing plants and metals refineries, presenting a major obstacle for western countries seeking to loosen the Asian superpower’s grip on the mining business.
“At a time when China is winning the race to dominate these resources while also restricting the sale and shipment of critical minerals to the US, Canada and Ontario need to urgently get our critical minerals out of the ground, processed and shipped to the factory floors that are building for the future,” Ford said in his statement.
(By Jacob Lorinc)
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