If early finds are anything to go by, the province may be richer than it thinks
Larry Short: “Newfoundland and Labrador is ideally suited to take advantage of any commercial discoveries.” — Contributed photoLarry Short is a portfolio manager with ShortFinancial, a branch of iA Wealth, with offices in St. John’s and Toronto.I attended the Mineral Resource Review Conference held Nov. 1 to Nov. 4 in St. John’s and I have never been as optimistic about the financial future of Newfoundland and Labrador as I am now.
Critical minerals are those metals needed to conquer climate change. They range from copper, nickel, cobalt and iron, which we have all heard of, but they also include lithium and vanadium, which are used in batteries, and something called “rare earth elements” that are truly strange and wonderful, at least in their names and are needed to make permanent magnets for wind turbines.
• Ideally, such a place would be able to use hydropower and wind power to mine, smelt and/or manufacture. Use of these power sources dramatically increases the value of the metals. As a consequence, the province of Newfoundland and Labrador is ideally situated to benefit from critical mineral demand and has been dealt a great hand with our rocky coasts and windswept shores.
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