Canada Joins Minerals Coalition to Reduce its Dependency on “Authoritarian States” 

Minister of Natural Resources Jonathan Wilkinson has announced a new worldwide coalition to secure the essential minerals required to shift away from fossil fuels, amid growing concerns about China’s economic dominance in the industry. 

During the United Nations biodiversity conference in Montreal this week, Wilkinson announced the establishment of the Sustainable Critical Minerals Alliance, just days after Canada released its critical minerals strategy to expand the sector locally. Canada, the US, UK, France, Germany, Australia, and Japan are all part of this new alliance.

“Critical minerals are essential if we want to reach our climate objectives,” said Wilkinson. “At the same time, the processing, manufacturing and recycling of critical minerals are a generational opportunity for Canada, but also for our partners and allies.” Metals and minerals, such as lithium, nickel, copper, and cobalt, that are used in the production of renewable energy infrastructure (such as solar panels, wind turbines, and electric car batteries) are known as “critical minerals.” 

“Today’s announcement is a step forward for a global economy that is more resilient, clean, inclusive and sustainable.”

Prime Minister Justin Trudeau was more direct in addressing the issue of essential minerals when he spoke to the media at the COP15 biodiversity summit. 

“We don’t want to be reliant on authoritarian states for our sources,” said Trudeau. “So that’s one of the reasons why Canada, over the past years, has really set up this entire supply chain.”

“We suddenly bounced up to number 2 in the global rankings of battery supply chains right after China, out of nowhere, because we’ve been putting all these pieces into place,” he said.

By working together, the members of this voluntary alliance hope to increase their combined market share. Allies in this informal group are working together to increase sales and expand into new markets. As environmental, social, and governance (ESG) criteria are projected to become more relevant in attracting investment, members have pledged to prioritize Indigenous communities and climate worries in supply chains.

The coalition is also encouraging its members to work together on the issue of sustainable mining at international forums such as the United Nations Environment Assembly, the International Energy Agency, the World Bank, and the Organization for Economic Cooperation and Development.

Original source material for this article taken from here