Canada to invest $2 billion on mineral strategy for EV battery supply chain
Prime Minister Justin Trudeau's government, which is due to release its budget on Thursday, will make the investment to ramp up the extraction of processing of critical minerals including nickel, lithium, cobalt and magnesium, said the sources who are familiar with the matter but were not authorized to speak on the record.
"There are some particular projects that we are looking at and working on at the present time," Natural Resources Minister Jonathan Wilkinson said in a recent telephone interview with Reuters. "Canada has an abundance of valuable critical mineral deposits, and with the right investments, this sector can create thousands of new good jobs, grow our economy, and make Canada a vital part of the growing global critical minerals industry," said Adrienne Vaupshas, press secretary for Freeland.
Ontario is geographically close to U.S.-based automakers in Michigan and Ohio, and General Motors Co, Ford Motor Co and Stellantis NV have all announced plans to make electric vehicles at factories in the Canadian province.Since it can take many years - even a decade or more - to open new mines, Wilkinson said some of the projects being considered involve "tailings from existing mines from which you could extract critical minerals.
GM said on Monday that it was investing C$2 billion on two plants, including one that will produce an electric vehicle for commercial use in Canada. Last month, GM said it had partnered with South Korea's POSCO Chemical to build a facility to make battery materials in Quebec.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vaccinated travellers to Canada won't need a COVID-19 test starting FridayICYMI - Travellers could still be randomly tested when they arrive in Canada
Read more »
COVID-19 resurgence underway in CanadaInfectious Disease Epidemiologist Zahid Butt explains why Canada is in a 'sixth wave' and what measures may need to be brought back.
Read more »
Vaccinated travellers to Canada won't need a COVID-19 test starting FridayICYMI - Travellers could still be randomly tested when they arrive in Canada
Read more »
Poet wrote about Vietnam War horrors before moving from U.S. to CanadaPart of a wave of Americans who emigrated during divisive conflict, she eventually established herself in Ontario, writing acclaimed poetry and practising psychotherapy
Read more »
Opinion: On inflation, the government and the Bank of Canada are pulling in opposite directionsThe Bank of Canada is trying to apply the brakes to rising inflation, but the federal government has its foot firmly on the gas
Read more »
More pot shops cropping up in airports, malls across Canada as retail competition grows | Globalnews.caThe push for cannabis stores to get into more spaces comes over three years after legalization. Since then, pot shops have speckled many cities
Read more »