Natural Resources Canada announced the update to the country’s critical minerals list on Monday, June 10th, local time, adding three new minerals.
In a media release, Natural Resources Canada stated that the 2024 critical minerals list was first released in 2021 and was updated following consultations with provinces and territories, exploration, mining, and manufacturing industries and associations, as well as Indigenous organizations and communities.
The newly listed minerals include high-purity iron for green steelmaking and decarbonization, phosphorus essential for batteries and food safety, and metallurgical silicon required for semiconductors and computer chips.
In March of this year, the Canadian exploration company First Phosphate (CSE: PHOS) received mining research and innovation grants from the Quebec Ministry of Natural Resources and Forestry. The company’s goal is to develop lithium iron phosphate (LFP) batteries to meet the demand for lithium iron phosphate battery cathode active materials throughout North America.
Jonathan Wilkinson, Minister of Energy and Natural Resources, stated that the list was reviewed and updated after extensive consultations aimed at “focusing efforts on developing a resilient critical minerals value chain.” By updating the critical minerals list for Canada, we are taking proactive steps to ensure that Canada seizes the generational economic opportunities presented by critical mineral wealth, fully understanding the most accurate market trends, geopolitical factors, and science. Investments in critical mineral projects create good job opportunities for workers, provide more avenues for innovation in Canada, and reduce nationwide emissions. All of these are essential components of our plan to build a cleaner and more prosperous, sustainable economy for Canada.
Canada’s critical minerals list currently identifies 34 minerals and metals considered crucial to the Canadian economy or national security.
