Russia is slightly ahead of Canada in all but lithium, which it also doesn’t produce. According to the United States Geological Survey, in 2021 Canada produced one per cent of the world supply of graphite, five per cent of nickel, 2.5 per cent of cobalt and 2.8 per cent of copper.
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Russia is among the three biggest sources of palladium, scandium and titanium, produces one-tenth of the world’s nickel, and six per cent of its aluminum.Ĭanada’s draft critical minerals strategy is focusing on six minerals and metals the federal government has decided have the greatest potential for economic growth and employment opportunities: lithium, graphite, nickel, cobalt, copper and rare-earth elements.Ĭanada currently doesn’t produce any lithium or rare earth elements (a group of 15 elements classified together) but has reserves of both.
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While each country has slightly different lists and definitions of critical minerals, typically they are substances which have no substitute, are limited in supply, economically important, and increasingly concentrated in both extraction and processing. Right now China is the biggest global player in critical minerals - it is the world’s largest producer of half of the 31 minerals and metals Canada has listed as critical to its economy. He said “the emerging reality for all of us” is that when it comes to critical mineral supply chains we “actually do need to be considering where these minerals are coming from, and how we can actually work with other democratic countries to ensure security of supply.” That is a wake-up call for western democracies in the critical minerals field, Wilkinson said. And so I think there is an understanding in the democratic world that we do need to ensure that there are secure and stable sources of supply.”įollowing Russia’s invasion in Ukraine, Europe is facing an oil and gas crisis as it tries to disentangle itself from heavy reliance on Russian fossil fuels, without easy alternative sources. “In the current context, China and Russia are the number 1 and number 2 producers and processors of many of these minerals. “Where we are going to have an absolute requirement for these minerals, being dependent on countries that do not always share our perspectives on global affairs, and that have shown the ability at times to use their control of some of these resources as a weapon, is not a very good strategy,” he said. In an interview with The Canadian Press, Wilkinson said that resilience will only come if western countries don’t allow a geographic concentration of mineral production in countries that can’t be trusted. “Simply put, there is no energy transition without critical minerals, and this is why critical mineral supply chain resilience is an increasing priority for advanced economies,” Wilkinson said, in the written forward to a draft of his promised critical minerals strategy, released this week.
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The strategic mistake made in allowing Russia to have global dominance in oil and gas cannot be repeated as the world looks to massively ramp up production of critical minerals, Natural Resources Minister Jonathan Wilkinson asserted this week.ĭemand for critical minerals and metals - such as lithium, graphite, nickel, cobalt and copper - is exploding as demand climbs for everything from smartphones and laptops to wind turbines, solar panels and electric cars.