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Canada and US finalize Joint Action Plan on Critical Minerals collaboration
Largo Resources Maracás Menchen vanadium mine in Brazil
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n 9 January 2020, Canada and the United States announced the finalization of the Joint Action Plan on Critical Minerals Collaboration, an agreement between the two countries to increase production and establish supply chains for a number of ‘critical
and magnesium. Canada also supplies roughly one quarter of the uranium needs of the US. “With $2.6-billion worth of goods and services moving between Canada and the US every day, both of our economies are better off when we
are key to our economic growth and security — including uranium and rare earth elements — while bolstering our competitiveness in global markets and creating jobs for Canadians.” China is currently the world’s largest producer of REEs and dominates the
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“We are advancing secure access to the critical minerals that are key to our economic growth and security” minerals’ needed for important manufacturing sectors, including communication technology, aerospace and defence and clean technology. In June 2019, the US Department of Commerce issued a document outlining critical minerals on which the US is dependent on imports. The Joint Action Plan includes 35 of these minerals, including rare earth elements, uranium, lithium, graphite, vanadium, platinum group metals and zirconium. The Action Plan will promote joint initiatives, including research and development cooperation, supply chain modelling and increased support for industry. Canada is an important supplier of 13 of the 35 minerals that the US has identified as critical to economic and national security, and has the potential to become a reliable source of other critical minerals, including rare earth elements. Canada is currently the largest supplier of potash, indium, aluminium and tellurium to the US and the secondlargest supplier of niobium, tungsten
work together,” said Seamus O’Regan, Canada’s Minister of Natural Resources. “By finalizing the Canada–US Joint Action Plan on Critical Minerals Collaboration, we are advancing secure access to the critical minerals that
global critical minerals market with over 70% of global annual production. Other countries, including the US and Canada, are keen to decrease their dependence on China by finding new sources of critical minerals and REEs.
industry deals total $7.88bn in December 2019
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otal metals & mining industry deals worth $7.88bn were announced in December 2019, according to GlobalData. This figure marked a decrease of 14.6% in value over the previous month, but a rise of 65.5% when compared to the last 12-month average of $4.77bn. The combined value of the top five metals & mining deals stood at $6.5bn, against the overall value of $7.88bn recorded for the month. The top five metals & mining industry deals of December 2019 tracked by GlobalData were: • Cleveland-Cliffs’ $3bn acquisition
of AK Steel Holding • The $1.12bn acquisition of PIM Cupric by Jiangxi Copper (Hong Kong) Investment Limited • Gold Mountains (H.K.) International Mining Limited’s $1.03bn acquisition of Continental Gold • The $800m acquisition of Kalgoorlie Lake View by Northern Star Resources • Northern Star Resources’ acquisition of Kalgoorlie Consolidated Gold Mines. In terms of number of deals, the sector saw a drop of 22.9% over the last 12-month average with 84 deals against the average of 109 deals. World Mining Magazine www.ogsmag.com
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