'This is an opportunity': Federal energy minister says world is eying Canada's critical minerals
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Energy and Natural Resources Minister Tim Hodgson says he constantly hears from other countries that want to buy critical minerals from Canada, and that is presenting the country with an opportunity for economic growth.
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'At the G7 (meeting this month in Alberta), all the countries said they wanted to buy Canadian critical minerals,' he said at a Toronto Region Board of Trade event on Wednesday. 'Right now, at the NATO summit, what the prime minister is hearing is that all those countries want to buy our critical minerals. This is an opportunity for us.'
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Hodgson said Canada needs to ensure it mines critical minerals, but also builds processing facilities so that it can share in some of the wealth created by products made from what it mines. The federal government is focused on ensuring Canada builds major projects quickly and responsibly, he added.
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Hodgson said Canada is standing at a unique moment in its history that is defined by 'instability.' Supply chains are 'being ripped apart,' climate change is advancing and Canada is in the midst of a 'devastating trade war ' with the United States, its closest trading partner.
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Last week, the House of Commons passed Bill C-5, which he referred to as the One Canadian Economy Act because he said it would break down interprovincial trade barriers while also ensuring that major nation-building projects, such as mines, pipelines and other infrastructure, are built quickly and with the consent of affected communities.
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As part of that process, he said Prime Minister Mark Carney plans to hold a summit on July 17 with leaders from First Nations, Inuit and Métis communities to discuss some of the projects that will be fast-tracked.
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'The goal here is to create certainty that catalyzes investment,' Hodgson said.
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He said Canada also has an opportunity because it is unified in its resolve to grow its economy by working together despite the impending crisis brought on by the trade war.
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'This is a trade war we did not ask for, but it is a trade war we must win,' he said.
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It was similar to the message that Ontario's Minister of Energy and Mines Stephen Lecce delivered when he introduced Hodgson at the event.
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