TORONTO / LONDON (IT BOLTWISE) – Canada has announced 25 new investments in critical minerals as part of a G7 initiative. These investments, totaling C$1.4 billion, are intended to secure supplies of raw materials critical to defense, clean energy and advanced manufacturing.
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Canada has announced a significant investment in critical minerals as part of a new Group of Seven (G7) initiative. This initiative, launched in June, aims to strengthen supplies of raw materials essential for defense, clean energy and advanced manufacturing. The Canadian government under Prime Minister Mark Carney has announced 25 new investments, partnerships and actions worth a total of 1.4 billion Canadian dollars (about 1 billion US dollars).
Companies that will benefit from this initiative include Rio Tinto Group and Nouveau Monde Graphite Inc. These companies are part of a larger group of more than a dozen companies supported by the G7 initiative. The aim is to reduce dependence on unsustainable supply chains and promote domestic production of critical minerals.
The importance of these investments cannot be overstated as critical minerals play a key role in modern technology. They are essential for the production of batteries, semiconductors and other high-tech components used in a wide range of applications from electric vehicles to renewable energy. Ensuring a stable supply of these raw materials is therefore of strategic importance.
The G7 initiative also reflects the growing geopolitical importance of raw materials. At a time when global supply chains are under increasing pressure, diversifying raw material sources is crucial. Canada is positioning itself as a reliable partner that not only has rich deposits of critical minerals, but also the necessary infrastructure to extract and process them efficiently.
Experts see the Canadian initiative as an important step towards strengthening global supply security. The investments could also serve as a model for other countries looking to reduce their reliance on unstable or unethical supply chains. The long-term impact of these measures could be far-reaching, particularly in terms of promoting sustainable technologies and supporting the global energy transition.
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