CPE Media News (1/9/2020) – Canada and the U.S. have finalized the Canada–U.S. Joint Action Plan on Critical Minerals Collaboration to secure supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defence, and clean technology.
Collaboration could attract investment to Canadian exploration and mining projects, as well as spur job creation and economic growth in various downstream industries.
The action plan will guide cooperation in areas such as industry engagement; efforts to secure critical minerals supply chains for strategic industries and defence; improving information sharing on mineral resources and potential, and cooperation in multilateral fora and with other countries. The plan will promote joint initiatives, including research and development cooperation, supply chain modelling and increased support for industry.
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News Release
Canada and U.S. Finalize Joint Action Plan on Critical Minerals Collaboration
OTTAWA, Jan. 9, 2020 /CNW/ – Canada and the United States share a mutual interest in improving critical mineral security and ensuring the future competitiveness of Canadian and U.S. minerals industries. Collaboration in this area could attract investment to Canadian exploration and mining projects, as well as spur job creation and economic growth in various downstream industries.
Today, Canada and the U.S. announced they have finalized the Canada–U.S. Joint Action Plan on Critical Minerals Collaboration, advancing our mutual interest in securing supply chains for the critical minerals needed for important manufacturing sectors, including communication technology, aerospace and defence, and clean technology. This announcement delivers on the June 2019 commitment by the Prime Minister of Canada and the President of the United States.
The Action Plan will guide cooperation in areas such as industry engagement; efforts to secure critical minerals supply chains for strategic industries and defence; improving information sharing on mineral resources and potential; and cooperation in multilateral fora and with other countries. This Action Plan will promote joint initiatives, including research and development cooperation, supply chain modelling and increased support for industry.
Experts from both countries will convene in the coming weeks to advance joint initiatives to address shared mineral security concerns — helping ensure the continued economic growth and national security of both Canada and the U.S.
Quotes
“With $2.6-billion worth of goods and services moving between Canada and the U.S. every day, both of our economies are better off when we work together. By finalizing the Canada–U.S. Joint Action Plan on Critical Minerals Collaboration, we are advancing secure access to the critical minerals that are key to our economic growth and security — including uranium and rare earth elements — while bolstering our competiveness in global markets and creating jobs for Canadians.”
The Honourable Seamus O’Regan
Canada’s Minister of Natural Resources
Quick Facts
On December 18, 2019, Canada announced that it joined the U.S.-led, multi-country Energy Resource Governance Initiative, which aims to promote secure and resilient supply chains for critical energy minerals. The Initiative complements the Government of Canada’s longstanding efforts to increase transparency in the extractive sector and ensure developing countries have the capacity to manage natural resources in line with the UN Sustainable Development Goals. Canada’s partnership in the initiative is an early demonstration of our commitment to cooperate with the U.S. under the broader Action Plan.
Canada is an important supplier of 13 of the 35 minerals that the U.S. has identified as critical to economic and national security. We have the potential to become a reliable source of other critical minerals, including rare earth elements, key components in many electronic devices that we use in our daily lives. Canada is currently the largest supplier of potash, indium, aluminum and tellurium to the U.S. and the second-largest supplier of niobium, tungsten and magnesium. Canada also supplies roughly one quarter of the uranium needs of the U.S. and has been a reliable partner to the U.S. in this commodity for over 75 years.
Associated Links
Prime Minister Announces Enhanced Cooperation with the United States
Canada Joins the Energy Resource Governance Initiative
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SOURCE Natural Resources Canada
For further information: Natural Resources Canada, Media Relations, 343-292-6100, NRCan.media_relations-media_relations.RNCan@canada.ca; Carlene Variyan, Director of Communications, Office of the Minister of Natural Resources, 613-292-6837, Carlene.Variyan2@canada.ca
