31 critical minerals

CANADA INCLUDES POTASH ON LIST OF 31 CRITICAL MINERALS

Amid increased global demand, the Government of Canada recently announced a list of 31 minerals considered critical for the sustainable economic success of Canada and its allies, including potash. As a mineral that is critical to global food security, the inclusion of potash demonstrates the government’s commitment to protecting this essential supply chain, as demand for this critical mineral grows worldwide.

The critical minerals on this list are essential to lowering emissions, strengthening our energy security, and increasing our competitiveness. As well, the list gives a strong signal to investors where Canada will focus and lead.

This puts Canada in a strong position to leverage its existing advantages to advance the competitiveness of the potash industry, grow the economy, and create good jobs for Canadians. Nowhere is this more clear than in Saskatchewan, where the potash industry plays a crucial role in supporting workers, their families, and the communities they live in. In addition to being the largest producer and exporter of potash in the world, the industry employed approximately 5,000 workers and contributed over $5.5 billion to Canada’s GDP in 2019. Moreover, potash demand is forecasted to increase from 63.3 megatons (Mt) in 2019 to 72.5 Mt in 2024, and 103.2 Mt in 2045. dentials, potash companies in Saskatchewan are investing in renewable energy sources – such as wind and solar – and process innovations to cut greenhouse gas emissions. Additionally, potash companies have shown a commitment to Indigenous communities and business groups through agreements for training and employment, procurement, economic development, and social investment. In a world that increasingly demands sustainably produced products, the potash industry is doing its part to ensure Canada’s mining sector is a global leader in environmental practices and corporate social responsibility.

Not only does the inclusion of potash on the critical minerals list provide greater certainty and predictability to industry, investors, provinces and territories, and international partners, it signals its importance to the Canadian economy.

The critical minerals list aligns with the Canadian Minerals and Metals Plan, a pan-Canadian effort developed by federal, provincial, and territorial governments to improve competitiveness in all aspects of the minerals and metals industry and to position Canada to thrive when economies look to grow following the global pandemic. Other work includes developing a Pan-Canadian Geoscience Strategy, which includes a focus on critical minerals and developing made-in-Canada supply chains for critical minerals and clean technologies. collaboration is also essential to advancing the critical mineral file and seizing opportunities. That is why the federal government has engaged provinces and territories through the FPT Task Team to help refine and support Canada’s list of critical minerals.

Canada has the potential to be a secure and responsible supplier of critical minerals to many global partners, and to develop value chains that create new economic opportunities in the country. Through work with international allies, such as the United States and the Canada-US Joint Action Plan on Critical Minerals Collaboration, the government is advancing mutual interests in securing supply chains for critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defense, and clean technology. Industry will be an important partner in efforts to build these value chains – from exploration to mining, mineral processing to downstream manufacturing.

Canada is a global mining power and the critical minerals list is a sign that it is acting now to secure its leadership position. As global and regional economies focus on the economic recovery post COVID-19, there is a generational opportunity to supply the world with sustainable commodities, products, services and innovations, and to secure key supply chains.

And we couldn’t do it without you. Canada’s minerals and metals industry is more than just mines – it is workers, communities, and Indigenous peoples employed in a range of activities, including engagement, technological innovation, environmental permitting and monitoring, and the sustainable development of our resources. l