The Essential Role of Graphite in Powering the Electrification of North America

Introduction:

As North America continues to embrace the electrification revolution, the demand for energy storage systems and electric vehicles (EVs) is skyrocketing. While lithium-ion batteries are widely recognized as the key technology enabling this transition, there is another critical component that often goes unnoticed: graphite. Graphite plays a vital role in the production of lithium-ion batteries, making it an indispensable resource for the electrification of North America. In this blog, we will delve into the significance of graphite and explore why its sustainable supply is crucial for the success of this transformative journey.

Graphite as the Backbone of Lithium-Ion Batteries:

Graphite is a carbon-based mineral with remarkable properties that make it an ideal material for the anodes of lithium-ion batteries. The anode is one of the key components responsible for storing and releasing energy during the battery's charge-discharge cycles. Graphite's exceptional conductivity, stability, and high energy storage capacity make it an essential ingredient in lithium-ion battery technology. It enables efficient charging and discharging, thereby facilitating the seamless operation of electric vehicles and renewable energy storage systems.

Challenges and Opportunities for Sustainable Graphite Supply:

With the increasing demand for lithium-ion batteries, the demand for graphite is also surging. However, ensuring a sustainable and responsible supply chain for graphite is crucial to avoid environmental degradation and unethical practices. Mining graphite can have significant ecological impacts, including deforestation and water pollution. Therefore, it is essential for stakeholders in the graphite industry to adopt sustainable mining practices, invest in recycling technologies, and explore alternative sources such as synthetic graphite and graphene.

Conclusion:

Graphite's indispensability in lithium-ion batteries positions it as a critical resource for the electrification of North America. As the continent moves towards a cleaner and more sustainable future, it is crucial to address the challenges associated with graphite supply. Collaboration among industry stakeholders, policymakers, and environmental organizations is necessary to establish ethical and sustainable practices throughout the graphite value chain. By doing so, we can ensure a responsible and environmentally friendly approach to meeting the growing demand for graphite, supporting the widespread adoption of electric vehicles and renewable energy storage systems in North America's electrification journey.

References:

1)     Innovation News Network – “Why Graphite is Essential to the Electrification of North America”; (Jan. 23, 2023 - http://bitly.ws/Ik7Q)

Canada-South Korea Agreements: Pioneering a Strategic Path for Critical Mineral Collaboration

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The recent agreements between Canada and South Korea have highlighted the importance of critical mineral strategy in today's global landscape. Canadian Prime Minister Justin Trudeau's visit to South Korea emphasized the mutual recognition of the strategic value of critical minerals and the desire to collaborate in this area. The agreements reflect a growing awareness among nations of the vital role critical minerals play in various industries, including clean energy technologies, telecommunications, and defense.

Canada, known for its vast mineral resources, aims to leverage its potential to become a key supplier of critical minerals to meet the increasing global demand. The collaboration with South Korea, a major player in technology and innovation, signifies the recognition of Canada's mineral wealth and its potential to contribute to the global supply chain. With the world shifting towards renewable energy and advanced technologies, securing a stable supply of critical minerals becomes crucial for countries aiming to maintain their competitiveness and strategic autonomy.

These agreements mark an important step in developing a comprehensive critical mineral strategy for both Canada and South Korea. By pooling their expertise and resources, the two nations can enhance exploration, extraction, processing, and recycling methods for critical minerals. Additionally, this partnership provides an opportunity to diversify supply chains, reduce dependence on single sources, and mitigate geopolitical risks. Ultimately, the focus on critical mineral strategy in this collaboration reflects the recognition that these resources are not only essential for economic growth but also for ensuring global stability and sustainability in the face of increasing demand and evolving technologies.

Reference:

1)      Global News – “Canada, South Korea agree to strengthen ties on critical minerals trade, security” (May 17, 2023 - http://bitly.ws/IjVy)

Navigating the Strategic Minerals Supply Chain: Safeguarding Global Resource Security

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In the article, the authors shed light on the critical importance of securing the supply chain for strategic minerals. These minerals play a vital role in numerous industries, including defense, technology, and renewable energy.  As global demand continues to rise, ensuring stability and security within the supply chain becomes increasingly crucial.

The article highlights the potential risks and challenges associated with the supply chain for strategic minerals. Factors such as geopolitical tensions, trade disputes, and limited domestic production capabilities can disrupt the flow of these minerals, leading to supply shortages and price volatility. The authors emphasize the need for strategic planning and diversification to mitigate these risks. Collaboration among governments, industry stakeholders, and international organizations is essential to develop sustainable supply chains and reduce dependency on a few key mineral-producing regions.

The article also explores the significance of innovation and sustainable mining practices in securing the strategic minerals supply chain. Technological advancements, such as automation and digitization, can enhance efficiency and minimize environmental impact. Additionally, responsible mining practices, including social and environmental considerations, are crucial to ensure the long-term viability of mineral extraction. Embracing circular economy principles, such as recycling and reusing strategic minerals, can also contribute to supply chain stability.

Overall, the article underscores the need for a comprehensive and forward-thinking approach to secure the supply chain for strategic minerals. By addressing geopolitical risks, fostering international collaboration, promoting innovation, and prioritizing sustainability, stakeholders can mitigate vulnerabilities and maintain stability and security in this critical sector.

References:

1)     Resource World Magazine (May 29, 2023) – “Strategic Minerals Supply Chain Review” - https://resourceworld.com/strategic-minerals-supply-chain-review/

2)     Count on Canada for Critical Minerals - https://www.resourceworks.com/canada-critical-minerals

Powering the Future: Canada's EV Battery Supply Chain Surpasses US and Rivals China

Originally posted on Investontario.ca

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The electric vehicle (EV) industry has been experiencing rapid growth in recent years, with an increasing number of consumers opting for environmentally friendly modes of transportation. As a result, the demand for electric vehicle batteries has skyrocketed, leading to an increase in the development of EV battery supply chains.

Canada is one country that has made significant strides in developing its EV battery supply chain. According to a report by Invest Ontario, Canada's EV battery supply chain has surpassed the United States and is now the second largest in the world, trailing only behind China.

This achievement is due in part to Canada's abundant natural resources, including nickel, cobalt, and graphite, which are essential components in EV batteries. Additionally, Canada has a highly skilled workforce, a stable political climate, and a supportive government that has implemented policies to attract investment and promote innovation in the EV industry.

One example of this is the Canadian federal government's plan to invest $2.75 billion over five years to support the growth of the EV industry. This investment includes the construction of charging stations, the development of EV battery technology, and the expansion of the EV manufacturing sector.

Canada's EV battery supply chain has also been bolstered by partnerships between Canadian companies and international automakers. For example, Canadian mining companies have signed agreements with major automakers such as Tesla and Volkswagen to supply them with the materials necessary for their EV batteries.

Furthermore, Canadian companies are also investing in research and development to improve EV battery technology. For example, the University of Waterloo's Centre for Automotive Research is conducting research on new battery chemistries that could improve the performance and efficiency of EV batteries.

Canada's success in developing its EV battery supply chain is a significant achievement that has positive implications for the country's economy and the global effort to combat climate change. By investing in and promoting the EV industry, Canada is not only creating jobs and boosting its economy but also contributing to the transition towards a more sustainable future.

In conclusion, Canada's EV battery supply chain has surpassed the United States and is now the second largest in the world, trailing only behind China. This achievement is due in part to Canada's abundant natural resources, skilled workforce, supportive government, and partnerships with international automakers. By investing in and promoting the EV industry, Canada is making a significant contribution to the global effort to combat climate change while creating jobs and boosting its economy. 

References:

1)     Invest Ontario. (2021, April 30). Canada's EV battery supply chain surpasses US, close 2nd to China. Retrieved from https://www.investontario.ca/spotlights/canadas-ev-battery-supply-chain-surpasses-us-close-2nd-china?

2)     University of Waterloo. (n.d.). Centre for Automotive Research. Retrieved from https://uwaterloo.ca/centre-automotive-research/

Building Resilience: G7 Expands Cooperation on Critical Minerals Security and Supply Chains

Originally posted on spglobal.com

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In the face of a rapidly changing global economy and an increasing demand for resources, the G7 has announced that it will be expanding cooperation on critical minerals security and supply chains. The move comes as countries look to secure access to the materials that are essential for technologies such as electric vehicles, wind turbines, and solar panels.

Critical minerals, including lithium, cobalt, and rare earths, are essential for a range of industries, from consumer electronics to defense. However, their supply chains are vulnerable to geopolitical tensions, trade disputes, and other disruptions.

The G7, which includes Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, has committed to expanding cooperation on critical minerals through a range of initiatives. These initiatives will include sharing information and best practices, promoting sustainable and responsible mining practices, and supporting research and development to improve the efficiency of mineral extraction, processing, and recycling.

One of the key areas of focus for the G7 will be reducing reliance on China, which currently dominates the critical minerals supply chain. According to a report by the International Energy Agency, China accounts for over 70% of global production of rare earth minerals and is the world's largest processor and exporter of lithium.

The G7's move to expand cooperation on critical minerals security and supply chains is a positive step towards ensuring the resilience and sustainability of these supply chains. By working together, countries can reduce the risks associated with geopolitical tensions, promote responsible and sustainable mining practices, and improve the efficiency of mineral extraction and recycling.

However, there are challenges that need to be overcome. One of the biggest challenges is the lack of transparency in the critical minerals supply chain, which makes it difficult to trace the origin of materials and ensure that they are being produced in a sustainable and responsible way. The G7 will need to work together to address this challenge, promoting greater transparency and accountability across the supply chain.

In conclusion, the G7's move to expand cooperation on critical minerals security and supply chains is a welcome development. As demand for critical minerals continues to grow, it is essential that countries work together to ensure the resilience and sustainability of these supply chains. By promoting sustainable and responsible mining practices, improving the efficiency of mineral extraction and recycling, and reducing reliance on China, the G7 can help to ensure that critical minerals are available for generations to come.

Reference:

1)     G7 to Expand Cooperation on Critical Minerals Security & Supply Chains" by S&P Global Market Intelligence - https://bit.ly/41e9awe

Meeting the Critical Mineral Challenge:Can the Automotive Industry Source Enough for EV Production by 2030

Originally posted on Investorintel.com

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The rise of electric vehicles (EVs) has brought about a new era of the automotive industry, with the promise of clean and efficient transportation. However, the production of EVs requires a significant amount of critical minerals, which poses a challenge for the global automotive industry. In this blog, we will delve into the issue of sourcing enough critical minerals to meet EV production by 2030.

Critical minerals are a group of minerals that are essential to modern technology and have a high economic importance due to their scarcity and criticality. The production of EVs requires several critical minerals such as lithium, cobalt, and rare earth elements. The demand for these minerals is expected to increase significantly in the coming years, with the rise of EVs and other clean energy technologies.

The question then arises: can the global automotive industry source enough critical minerals to meet EV production by 2030? The answer is complex, and several factors need to be considered. First, the current supply of critical minerals is limited, with a few countries dominating the production. For instance, China accounts for more than 80% of the global production of rare earth elements, which are crucial for the production of electric motors and other components of EVs.

Second, the production of critical minerals is often associated with environmental and social challenges, such as pollution and exploitation of labor. The mining and processing of these minerals can have a significant impact on the environment and local communities, which raises ethical concerns. Additionally, the production of critical minerals requires a significant amount of energy, which can contribute to greenhouse gas emissions and climate change.

To address these challenges, the automotive industry and governments need to take several actions. First, there is a need to diversify the supply of critical minerals to reduce dependence on a few countries. This can be achieved through increased exploration and production of these minerals in other regions, such as Africa and South America.

Second, there is a need to invest in sustainable mining and processing technologies that minimize the environmental and social impact of critical minerals production. This can be achieved through the adoption of best practices and standards, such as the International Council on Mining and Metals (ICMM) principles.

Third, there is a need to promote recycling and circular economy approaches to reduce the demand for new critical minerals. This can be achieved through the development of new technologies and policies that incentivize the recycling of EV batteries and other components.

Lastly, there is a need for collaboration between the automotive industry, governments, and other stakeholders to address the challenges of sourcing enough critical minerals. This can be achieved through partnerships and initiatives that promote sustainable and responsible sourcing of critical minerals.

In conclusion, the sourcing of enough critical minerals to meet EV production by 2030 is a complex issue that requires a multi-faceted approach. The automotive industry and governments need to take action to diversify the supply of critical minerals, invest in sustainable mining and processing technologies, promote recycling and circular economy approaches, and collaborate with stakeholders. By doing so, we can ensure a sustainable and responsible transition to a clean and efficient transportation system.

Reference:

1) Can the Global Automotive Industry Source Enough Critical Minerals to Meet EV Production by 2030?" InvestorIntel. https://investorintel.com/critical-minerals-rare-earths/can-the-global-automotive-industry-source-enough-critical-minerals-to-meet-ev-production-by-2030/

Accelerating the Drive to Secure Battery Raw Materials: The Race to Sustainability and Responsibility in the EV Market

Originally posted on Mining.com

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The rapid growth of the electric vehicle (EV) market has sparked a surge in demand for battery raw materials, particularly lithium, cobalt, and nickel. With many automakers announcing ambitious plans to transition their fleets to electric, securing access to these resources has become a top priority.

In recent years, automakers have taken a proactive approach to securing their battery material supply chains, investing in mines and forging partnerships with mining companies. According to a report by Benchmark Mineral Intelligence, automakers and their suppliers have secured 80% of the world's cobalt supply and 65% of the world's lithium supply.

One notable example of automakers' investment in battery raw materials is Volkswagen's partnership with Ganfeng Lithium, the world's largest lithium producer. The two companies recently signed a deal that gives Volkswagen access to a secure supply of lithium for the next ten years. Similarly, Tesla has signed deals with mining companies in Australia and Canada to secure access to nickel, a critical component in its batteries.

Beyond direct investment in mines, automakers are also exploring alternative ways to secure their supply chains. For instance, BMW has implemented a closed-loop supply chain for its battery materials, in which materials are recycled and reused. This approach not only reduces reliance on mining but also reduces waste and lowers costs.

However, the race to secure battery raw materials has raised concerns about ethical sourcing and environmental impact. Cobalt, for example, is primarily mined in the Democratic Republic of Congo, where child labor and hazardous working conditions are prevalent. To address these concerns, automakers are increasingly prioritizing responsible sourcing and investing in initiatives to improve social and environmental practices in mining.

As the demand for battery raw materials continues to grow, the drive to secure supply chains will only intensify. Automakers will need to balance their desire for secure access to materials with their commitment to responsible sourcing and environmental stewardship. The success of the EV market depends not only on the availability of battery materials but also on the sustainability of their extraction and use.

References:

1)     Mining.com (April 3, 2023) – https://www.mining.com/web/factbox-automakers-accelerate-the-drive-to-secure-battery-raw-materials

2)     Hitzig, M., & Guan, J. (2022). How automakers secure battery raw material supply chains: Investment, partnerships, and sustainability. Journal of Cleaner Production, 340, 130889

3)     Benchmark Mineral Intelligence. (2021). Cobalt, Lithium, and Nickel Demand Forecast 2021-2030.

Unearthing the Future: Why Canadian Mining Projects Are Critical for High-Tech Innovation and National Security"

Canadian mining projects play a critical role in the global supply chain for critical minerals. These minerals are essential for the production of a wide range of high-tech devices and equipment, including smartphones, electric vehicles, and military hardware. As demand for these minerals continues to grow, Canadian mines are increasingly becoming a vital source of these critical resources.

In recent years, the United States military has turned to Canadian mining projects to secure the supply of critical minerals needed for its operations. In September 2021, the U.S. Department of Defense announced plans to invest in Canadian mining projects to ensure a reliable source of critical minerals, such as rare earth elements, lithium, and nickel.

One of the reasons Canadian mining projects are so important is that Canada has significant deposits of many critical minerals. For example, Canada is home to some of the world's largest deposits of rare earth elements, which are essential for the production of high-tech devices, including smartphones, electric vehicles, and wind turbines.

In addition to its natural resources, Canada also has a well-developed mining industry that has a strong focus on responsible and sustainable mining practices. This means that Canadian mining projects are not only a reliable source of critical minerals, but also produce these minerals in an environmentally sustainable and socially responsible manner.

However, despite Canada's significant reserves of critical minerals and its strong mining industry, there are still challenges in developing and expanding Canadian mining projects. These challenges include regulatory hurdles, community opposition, and the high costs associated with developing and operating mines in remote and challenging environments.

To address these challenges and ensure a reliable supply of critical minerals, it is essential that governments and industry work together to promote responsible and sustainable mining practices in Canada. This includes supporting research and development of new mining technologies and techniques, investing in infrastructure to support mining projects in remote areas, and engaging with local communities to ensure that mining projects are developed in a way that benefits everyone.

In conclusion, Canadian mining projects are a vital part of the global supply chain for critical minerals. As demand for these minerals continues to grow, it is essential that Canada's mining industry is supported and developed in a responsible and sustainable manner. By doing so, Canada can help ensure a reliable and secure supply of critical minerals for years to come.

Reference:

1)     CBC News – U.S. Military weighs funding mining projects in Canada amid rivalry with China (https://bit.ly/42IOPAp; Nov. 13, 2022)

“Vanadium: The Hidden Metal with Explosive Investment Potential in Energy Storage”

Originally posted on Investingnews.com

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Introduction

The demand for energy storage is growing, and vanadium is quickly becoming a popular choice for battery metal investors. With its unique properties, vanadium has the potential to revolutionize the energy storage industry. In this blog post, we will explore the various ways to invest in vanadium and its potential as a valuable commodity.

What is Vanadium?

Vanadium is a chemical element with the symbol V and atomic number 23. It is a hard, silvery-grey,ductile metal that is widely used in the production of steel alloys. In recent years, vanadium has gained attention as a promising energy storage material due to its ability to store and release energy.

Investing in Vanadium:

There are several ways to invest in vanadium, including:

Vanadium Miners:
Investing in vanadium mining companies is one way to gain exposure to this commodity. Some of the top vanadium mining companies include Largo Resources Ltd., Bushveld Minerals Ltd., and Ferro-Alloy Resources Ltd.

Vanadium ETFs:
Exchange-traded funds (ETFs) that focus on the metals and mining industry may also include exposure to vanadium. The VanEck Vectors Steel ETF and the Global X Lithium & Battery Tech ETF are two examples of ETFs that invest in companies that produce vanadium.

Vanadium Futures:
Investors can also trade vanadium futures contracts on commodity exchanges such as the London Metal Exchange and the Shanghai Futures Exchange. Futures trading allows investors to bet on the future price of vanadium and potentially profit from price movements.

Vanadium Bullion:
While not as widely available as gold or silver bullion, vanadium bars and coins can be purchased from select dealers. However, the market for physical vanadium is relatively small, and it may be difficult to find a reputable dealer.

Potential of Vanadium:

Vanadium has the potential to be a game-changer in the energy storage industry. Its unique properties make it an ideal material for use in flow batteries, which are capable of storing large amounts of renewable energy.  As the world shifts towards a more sustainable future, demand for energy storage solutions is expected to grow, which could drive up demand for vanadium.

In addition to energy storage, vanadium is also used in the production of steel alloys. As global infrastructure development continues, demand for steel is expected to rise, which could also drive up demand for vanadium.

Conclusion:

Vanadium is a promising investment opportunity for those interested in the metals and mining industry or the energy storage sector. By investing in vanadium miners, ETFs, futures, or bullion, investors can gain exposure to this valuable commodity.  As demand for energy storage solutions and steel continues to rise, vanadium could play an increasingly important role in these industries.

References:

1)     Investing News. (2021). Ways to Invest in Vanadium. [online] Available at: https://investingnews.com/daily/resource-investing/battery-metals-investing/vanadium-investing/ways-to-invest-in-vanadium/

2)     United States Geological Survey. (2022). Vanadium Statistics and Information. [online] Available at: https://www.usgs.gov/centers/nmic/vanadium-statistics-and-information

3)     VanEck. (2023). VanEck Vectors Steel ETF (SLX). [online] Available at: https://www.vaneck.com/us/en/investments/steel-etfs/vectors-steel-etf-slx

4)     Global X ETFs. (2023). Global X Lithium & Battery Tech ETF (LIT). [online] Available at: https://www.globalxetfs.com/funds/lit

Revving up the EV Revolution: Canada's Proposed Tax Credit Sparks Growth and Innovation in Clean Energy Sector

Originally posted on Mining.com

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Canada's budget is set to include a tax credit for equipment used in the production of electric vehicles (EVs), according to sources. This move is significant because it will encourage investment in the EV sector and promote the use of clean energy, reducing Canada's carbon footprint.

Electric vehicles are rapidly gaining popularity worldwide, with a growing number of countries planning to phase out gas-powered cars in the coming years. This shift towards EVs is driven by concerns about climate change and the need to reduce greenhouse gas emissions. Canada is no exception to this trend, and the government has been taking steps to promote the adoption of electric vehicles.

One of the biggest barriers to the widespread adoption of electric vehicles is the high cost of production. However, the proposed tax credit for equipment used in the production of EVs could help to reduce this cost. The tax credit would encourage companies to invest in new equipment and technologies, making the production of electric vehicles more efficient and cost-effective.

This tax credit would not only benefit large automakers but also small and medium-sized businesses that are involved in the production of electric vehicles. These businesses may not have the same financial resources as the larger automakers, but they play a crucial role in the supply chain and are essential for the growth of the electric vehicle industry.

The tax credit could also have a positive impact on the Canadian economy by creating jobs and driving innovation. As more companies invest in the production of electric vehicles, there will be a growing demand for skilled workers and innovative technologies. This could lead to the creation of new jobs in the manufacturing, engineering, and research sectors.

Another benefit of the tax credit is that it could help Canada meet its climate goals. By promoting the production of electric vehicles, Canada can reduce its greenhouse gas emissions and contribute to the global effort to combat climate change. This would not only benefit the environment but also improve the health and well-being of Canadians by reducing air pollution.

In conclusion, Canada's proposed tax credit for equipment used in the production of electric vehicles is a significant step towards promoting the adoption of clean energy and reducing Canada's carbon footprint. This tax credit will benefit businesses of all sizes, create jobs, and drive innovation, while also contributing to the fight against climate change. It is a positive development that should be welcomed by all Canadians.

References:

1)     Canada budget to have tax credit for equipment used to produce EVs – mining.com (https://bit.ly/3zaFtzL; March 24, 2023)

2)     Electric Vehicle Market Outlook 2021", IEA. https://www.iea.org/reports/global-ev-outlook-2021

Critical Minerals, Battery Metals, ESG, and Financing in Focus at the Convention

Originally posted on Investorintel.com

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The Prospectors & Developers Association of Canada (PDAC) held its annual convention in Toronto and, according to convention organizers, returned to pre-pandemic levels with nearly 24,000 attendees, one of the largest crowds since it started in 1932. Critical minerals, battery metals, financing, and the zero-carbon economy, were at the forefront of company booths and conference presentations.

Overall, the convention showcased over 1,100 exhibitors from around the world and provided business, investment, and networking opportunities for attendees, and offered programs for professional development, including capital markets, sustainability, and technical programs.

Critical Minerals – a Popular Topic

Critical minerals seemed to be a popular topic of the conference and comparing the various “critical minerals” lists of different countries seemed a regular occurrence at presentations as well as discussions around how to move mineral exploration projects from resource definition to active mine under the current financing and regulatory frameworks.

With the world’s focus shifting towards low-carbon technologies, there is a growing need for critical minerals which serve as vital components for renewable energy and clean technologies such as solar panels, wind turbines, small modular reactors (SMRs), and electric batteries. As a result, demand for these minerals is expected to rise.

Various speakers commented on the need for commodities such as cobalt, copper, nickel, palladium, platinum, scandium, vanadium, and rare earths (including neodymium and praseodymium) that are key minerals for the green transition.

Governments also used the event to make important announcements, such as Canadian Natural Resources Minister Jonathan Wilkinson’s announcement of a $344 million investment to help advance the critical minerals sector.

Critical mineral companies with booths at PDAC 2023 included Appia Rare Earths & Uranium Corp. (CSE: API | OTCQX: APAAF), Avalon Advanced Materials Inc. (TSX: AVL | OTCQB: AVLNF), Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR), Geophysx Jamaica Ltd. (Private), Ucore Rare Metals Inc. (TSXV: UCU | OTCQX: UURAF), and Western Uranium & Vanadium Corp. (CSE: WUC | OTCQX: WSTRF).   

Battery and EV Metals

In any given year, certain commodities seem to grab the spotlight and lithium was a good example as soaring lithium prices, up 222% year-over-year, led to more companies highlighting their lithium projects to attract attention.

With new government initiatives, including the Inflation Reduction Act by the U.S. that makes the single largest investment in climate and energy in U.S. history, there was a focus was on North American lithium projects.

However, a resurging North American lithium sector might face challenges such as cost inflation, remote locations with poor infrastructure, the lack of domestic secondary processing and refining capabilities, and the concern that the lithium price might not be able to maintain its current level.

Currently, the only operating mines in North America are the Silver Peak mine in Nevada, operated by Albemarle Corporation (NYSE: ALB), the Tanco Mine in Manitoba, operated by Sinomine Resource Group (SZSE: 002738), a major Chinese mining company, and the recently re-opened North American Lithium project, operated by Sayona Quebec, a joint venture between Piedmont Lithium (Nasdaq: PLL | ASX: PLL) and Sayona Mining (ASX: SYA).

In various presentations, Copper was also highlighted as a major component in electric vehicles (EVs) as it is used in the electric motors, batteries, inverters, wiring, and in charging stations. However, the price of copper was down 14% in 2022 from 2021 even though inventories of copper are at multi-year lows.

It was pointed out that with relatively few new copper mines coming into production, a decline in ore grade that results in higher operating costs, and potential supply shortfalls as early as 2030, all of these factors could put upward pressure on the copper price.

Battery metals companies with booths at PDAC 2023 included Clean Air Metals Inc. (TSXV: AIR | OTC: CLRMF | FRA: CKU) and Murchison Minerals Ltd. (TSXV: MUR | OTCQB: MURMF).

Financing is Often an Impediment

Except for the commodities boom in the first dozen years of this century, junior mining companies often struggle to raise capital and 2022 was no exception. Last year, mineral exploration and mining companies faced greater difficulties in obtaining equity or debt capital, which could indicate a potential decrease in exploration activities both in Canada and internationally this year.

According to various presentations, global financing (equity and debt) for the mineral sector decreased by approximately 35% in 2022 from 2021. Although Canadian markets also experienced some impact, they were more resilient than other marketplaces in 2022 which lead to Canada’s market share of overall financings increasing to 29%, above its 10-year average of 22%.

Heightened tensions over geopolitical risks in a variety of countries, including social unrest in Latin America, conflicts in Ukraine and Africa, and tensions between the USA and China, bodes well for North American projects and financing options.

However, various speakers stressed the minerals required for a low-carbon future would require substantial investment in mining companies that dwarf current mining financing. Financiers stressed that there must be new ways to connect the mineral industry with capital to ensure that domestic economies have access to minerals required to support the decarbonization agenda.

Another notable trend in the critical minerals and battery metals sectors was the recent rise of direct investments from end users, especially from the electric vehicle industry. The desire for dependable supplies of these essential minerals is a major driving force behind these investments, underscoring the projected demand for these minerals and the intensifying rivalry among automakers as they shift towards electric vehicles.

ESG – Low Carbon or No Carbon Mining

Businesses, government, investors, and the general public’s interest in Environmental, Social, and Governance (“ESG”) issues and the rising demand for energy transition, continue to play in boardrooms, corporate and government policies, and investor activism.

In Sinead Kaufman’s, Chief Executive of Rio Tinto Minerals (NYSE: RIO | LSE: RIO), keynote speech, she talked about the challenges and opportunities for the mining industry as it shifts to a low-carbon economy.

Rio plans to reduce greenhouse gas emissions by 50% between now and 2035 by switching to electric trucks, and using biofuels, solar panels, and wind turbines as energy sources. They will also offset carbon emissions by finding land for conservation, restoration, or sustainable management to reach net zero by 2050.

Various presenters focused on “clean, green, or low carbon” options when it came to powering mining projects with a focus on hydroelectric and nuclear power. The province of Quebec touts that its mines emit fewer greenhouse gases than elsewhere in the world due to the use of 99% renewable hydroelectrical power and stringent environmental regulations. Nuclear and uranium discussions inevitably mentioned its classification as a zero-emission energy source and the potential use of SMRs, a category of nuclear reactor designs that are smaller in power output and physical size, which could be used in remote locations.

Companies that could benefit from hydroelectric power to produce low-carbon minerals include companies with projects in Quebec such as Murchison Minerals Ltd. (TSXV: MUR | OTCQB: MURMF) and Power Nickel Inc. (TSXV: PNPN | OTCQB: PNPNF).

Uranium companies with booths at PDAC 2023 included Energy Fuels Inc. (NYSE American: UUUU | TSX: EFR), F3 Uranium Corp. (TSXV: FUU | OTCQB: FUUFF), and Western Uranium & Vanadium Corp. (CSE: WUC | OTCQX: WSTRF).

Final Thoughts

Even with the various global crises, there was a sense of optimism at the conference as the attendance was back to pre-pandemic levels and the zero-carbon economy was at the forefront and the world cannot get to a net zero carbon world without a lot of mineral exploration and mine production.

EU tags copper and nickel as strategic, but industry wants more

Originally posted on Mining.com

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The European metals sector welcomed a move by the EU on Thursday to include copper and nickel as strategic materials for the first time and ensure speedier permits and easier access to capital, but said more could be done to secure supplies.

The Critical Raw Materials Act (CRMA) unveiled by the European Union adds the two major industrial metals to a list that had previously focused on more niche minerals such as cobalt, lithium and rare earths.

Copper is used in renewable energy systems and for wiring in electric vehicles (EVs) while nickel is a major component in many EV batteries.

Mining and metals companies, including Sweden’s Boliden, cheered EU plans in the CRMA to provide streamlined permits and access to financing for projects pegged as strategic.

However, to ensure a supply of materials needed for the green transition, other industrial metals such as aluminium should be included while fair competition with China also needs to be addressed, industry groups and firms said.

The VDM Association of German Metal Traders and Recyclers was among those pushing for aluminium and zinc to be included.

“These areas of the metal industry also need fast approval procedures and, above all, competitive energy prices,” the group said in a statement.

The EU already produces about 15% of its needs for copper, well above the overall 10% target set by the EU for strategic minerals, but the situation could deteriorate, the CEO of Aurubis, Europe’s biggest refined copper producer, said.

“Every mine gets depleted therefore it is time to act now to ensure that new mining projects, which will take years to develop, are being approved in time,” Roland Harings told Reuters in an interview.

Harings also said the EU must ensure fair competition with China and other countries so the metals recycling industry can thrive.

“We have absolutely no problem in being in competition if there’s a level playing field. If everybody has to respect minimum environmental, labour and other standards.”

Aurubis sees recycling as a huge growth area with new plants being built and has the intention in the longer term to also move into recycling of electric vehicle batteries.

(By Eric Onstad and Philip Blenkinsop; Editing by Elaine Hardcastle)

Volkswagen to invest in mines in bid to become global battery supplier

Originally posted on Mining.com

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Volkswagen plans to invest in mines to bring down the cost of battery cells, meet half of its own demand and sell to third-party customers, the carmaker’s board member in charge of technology said.

Its strategy aligns with a wider trend of carmakers seeking greater control over parts of the supply chain traditionally left to third parties, from energy generation to raw material sourcing, as they compete for scarce resources they urgently need to meet electrification targets.

Europe’s biggest carmaker wants its battery unit PowerCo to become a global battery supplier, as well as meet half its own demand with plants mostly in Europe and North America, Thomas Schmall told Reuters in an interview.

PowerCo will start by delivering cells to Ford (F.N) for the 1.2 million vehicles the US carmaker is building in Europe on Volkswagen’s electric MEB platform, he said.

“The bottleneck for raw materials is mining capacity – that’s why we need to invest in mines directly,” he said.

The carmaker was partnering on supply deals with mining companies in Canada, where it will build its first North American battery plant.

Such partnerships guaranteeing finance can cut years off mine development times for junior miners, John Meyer, senior analyst at boutique investment bank SP Angel, said.

Schmall declined to comment on further locations under consideration or when Volkswagen might invest directly in mines until the market was more settled.

“In future, there will be a select number of battery standards. Through our large volume and third-party sales business, we want to be one of those standards,” he said.

Ambitious roadmap

Acquiring batteries at a reasonable cost is a challenge for carmakers like Volkswagen, Tesla and Stellantis looking to make electric vehicles (EVs) affordable.

Only Tesla has pledged more investment into battery production than Volkswagen, a Reuters analysis showed – though even the US EV maker is struggling to ramp up production and is recruiting Asian suppliers to help.

Few carmakers have disclosed direct stakes in mines, but many have struck deals with producers to source lithium, nickel and cobalt and pass them onto their battery suppliers.

Securing those resources in time, close to refineries and from places outside of China is key to winning the battery race, Geordie Wilkes of the UCL Insitute for Sustainable Resources said.

PowerCo, set up last year, is targeting over 20 billion euros ($21.22 billion) in annual sales by 2030.

It is an ambitious roadmap for a unit not yet producing at scale. Production will start in 2025 at PowerCo’s plant in Salzgitter, Germany, 2026 in Valencia, Spain, and 2027 in Ontario, Canada.

Still, Schmall is confident the carmaker can expand quickly – and must do so if it wants to build an affordable EV, in which 40% of the costs come from the battery.

Volkswagen released on Thursday the details of a 25,000-euro EV it aims to sell in Europe from 2025.

China’s BYD, which also produces batteries, is far ahead of Volkswagen in the affordable EV race and outsold the German carmaker for the second time in four months in China in February.

Half the staff at Volkswagen’s PowerCo are industry veterans from Asia, where producers like CATL, LG Chem and Samsung SDI dominate global cell production.

Reducing costs

In Volkswagen’s 180-billion-euro five year spending plan, up to 15 billion is earmarked for its three announced battery plants and some raw material sourcing.

The carmaker has so far nailed down raw material supply until 2026 and will decide in the next few months how to meet its demand from then on, Schmall said in the interview.

It has also ordered some $14 billion in batteries from Northvolt’s Swedish plant.

“Bringing down battery costs further is a challenge,” Schmall said. “We’re using all the instruments with PowerCo.”

($1 = 0.9427 euros)

(By Victoria Waldersee and Nick Carey; Editing by Susan Fenton and Angus MacSwan)

Powering the Future: Why Critical Minerals Hold the Key to Clean Energy Success

The world is facing a climate crisis, and the need to transition to clean energy
sources has never been more urgent. Renewable energy technologies such as solar and wind power have made significant strides in recent years, but they require a range of critical minerals to function. These minerals are essential components in renewable energy technologies, but they are in limited supply and difficult to extract. The future of clean energy depends on our ability to secure a stable supply of these critical minerals.

The Importance of Critical Minerals in Clean Energy Technologies

Critical minerals are elements that are essential to the functioning of certain
technologies but are in limited supply. In the context of clean energy technologies,
critical minerals are necessary for the production of solar panels, wind turbines,
batteries, and electric vehicles. For example, the production of solar panels requires silver, copper, and tellurium. Wind turbines require rare earth metals such as neodymium, praseodymium, and dysprosium. Lithium, cobalt, and nickel are key components in the production of batteries for electric vehicles.
The supply chains for critical minerals are complex and often involve multiple countries. Many of the minerals are concentrated in a small number of countries,which creates geopolitical risks and raises concerns about supply chain security. Additionally, the extraction and processing of critical minerals can have environmental impacts, particularly when it comes to mining and refining.

The Need for a Secure and Sustainable Supply of Critical Minerals

To ensure a stable supply of critical minerals, it is important to diversify supply
chains and invest in the development of new sources of these minerals. This could involve developing new mines or improving the efficiency of existing mines. It could also involve investing in recycling technologies that can extract critical minerals from discarded products. Governments and industry can play an important role in promoting the sustainable extraction and use of critical minerals. For example, governments can implement policies that encourage the development of new mines, promote recycling, and incentivize the use of alternative materials. Industry can invest in research and development to improve the efficiency of critical mineral extraction and processing.

The Importance of Collaboration

The transition to clean energy will require collaboration between governments,
industry, and civil society. This collaboration will be particularly important when it comes to critical minerals, as the supply chains for these minerals are complex and involve multiple stakeholders. Governments can play a role in facilitating collaboration by promoting dialogue and information sharing between stakeholders. Industry can work with governments and civil society to identify and address environmental and social impacts associated with critical mineral extraction and processing. Civil society can advocate for the
responsible and sustainable use of critical minerals and hold governments and
industries accountable for their actions.

Conclusion

The transition to clean energy is essential for mitigating the worst impacts of
climate change. However, this transition depends on the availability of critical
minerals, which are in limited supply and difficult to extract. To ensure a stable
supply of critical minerals, it is important to diversify supply chains, invest in new sources of these minerals, and promote the sustainable extraction and use of critical minerals. Collaboration between governments, industry, and civil society will be essential in achieving these goals.

References:
1) The Future of Clean Energy: Why Critical Minerals are Vital to Achieving the
Global Energy Transition - https://bit.ly/41z8fXS
2) IEA. (2020). World Energy Outlook 2020. Retrieved from
https://www.iea.org/reports/world-energy-outlook-2020

3) The Growing Role of Minerals and Metals for a Low Carbon Future -
https://bit.ly/3YbZekF

Vanadium: The Key Strategic Metal for the Green Energy Transition

As the world transitions towards greener and more sustainable energy sources, the demand for certain metals, such as vanadium, has surged. Capital 10X, a leading investment research platform, has identified vanadium as a key strategic metal essential to the energy transition, due to its ability to increase the strength and efficiency of industrial metals, and its role as the main element in the manufacture of vanadium redox flow batteries (VRFBs).

Vanadium's Demand Drivers

The steel industry has been the main source of vanadium demand, accounting for 92% of total demand in 2021. China remains the largest consumer of vanadium, making up 60% of global consumption. According to Wood Mackenzie, demand for vanadium in the steel market is expected to grow at a CAGR of about 3.1% until 2030.

Vanadium Prices and the VRFB Market

Vanadium prices experienced a high of US$13 per pound in the first half of 2022, driven by concerns over potential supply disruptions from the Ukraine/Russian conflict. However, the prices declined in the second half due to concerns over economic growth and demand slowdowns from China.

In late 2022 and into the new year, vanadium prices have shown signs of life, hitting around $9.80 per pound, approx. 26% above the lows of 2022. The price increases are likely driven by a rebound in demand from the aerospace industry, as well as the installation and interconnection of the world's largest VRFB battery project in China. Industrial demand for VRFB batteries is picking up steam and is expected to have a significant impact on demand for vanadium in the future.

Large Scale VRFB Installations: A New Driver of Demand

The Dalian Rongke Power VRFB system, in partnership with Pangang Group Vanadium/Titanium Resources, is the largest non-lithium or pumped hydro energy storage project in the world, with a capacity of 100MW/400MWh. The project required ~4% of total annual global vanadium production (~8,000 tonnes of V2O5) and has the potential to lower the peak load on the local grid, improve the reliability of the overall power supply in the entire province, and enhance the opportunity to connect new generation sources (like renewable) energy to the grid.

China plans to build another 1,000 GW of solar and wind capacity by 2030, and VRFB batteries are expected to fill some of the energy storage needs generated by all the new wind and solar capacity. According to S&P Global, new stationary storage deployments may hit approximately 100 GWh/year by 2027, while the World Bank has said vanadium is among the top five metals affected by the energy transition, with 189% of current vanadium production needed globally by 2050 to support the energy transition alone.

Vanadium Market Share and Production

There are three global leaders in primary production for vanadium: Largo Inc. (TSX: LGO) (NASDAQ: LGO), which has a mine in Brazil; Bushveld Minerals (LSE: BMN), which has mines in South Africa; and mining giant Glencore (LSE: GLEN), also in South Africa. Largo Inc. owns the largest producing primary vanadium mine in the world and is more of a pure play on vanadium, while Bushveld and Glencore have exposure to the metal but are more diversified.

Reference:

1)     The Increasing Market Potential of Vanadium and Vanadium Flow Batteries - https://capital10x.com/the-increasing-market-potential-of-vanadium-and-vanadium-flow-batteries/

Global Graphite Market to Reach $21.6 Billion by 2027: Insights and Opportunities"

Graphite, a mineral of carbon, is extensively used in various applications such as refractories, lubricating agents, foundries, electrical vehicles, construction, and others. The global graphite market was valued at $14.3 billion in 2019 and is expected to reach $21.6 billion by 2027, growing at a CAGR of 5.3% from 2020 to 2027. The increasing demand for lithium-ion batteries and significant steel production through graphite electrode electric arc furnace are driving the market growth. However, the increasing export duty on graphite in China and decreasing price trend of natural graphite are hindering the market growth.

Market Segmentation

The global graphite market is segmented based on type, application, and region. Based on type, the market is bifurcated into natural graphite and synthetic graphite. The natural graphite segment is further sub-categorized into flake graphite, amorphous graphite, and vein graphite. The synthetic graphite segment is further classified into graphite electrode, graphite block, carbon fiber, graphite powder, and others. Based on application, the market is segmented into lubrication, refractories, foundry, battery production, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Market Dynamics

The synthetic graphite segment holds the largest market share owing to its increasing demand from the steel and battery industry. Synthetic graphite is expected to maintain its dominance during the forecast period.

On the basis of application, the refractories segment has garnered the highest market share, attributed to an increase in demand from the steel industry.

Asia-Pacific has garnered the highest market share in terms of volume and revenue, and it is anticipated to maintain its dominance throughout the forecast period, owing to the presence of key players and a huge consumer base in the region.

Key Players

The major players in the global graphite market include Triton Minerals Limited, Showa Denko K.K., Graftech International Holding, Nippon Graphite Industries Co., Ltd., Tokai Carbon Co., Ltd., Focus Graphite, Inc., West Water Resources, Inc., Next Source Materials Inc., Northern Graphite Corporation, and Mason Graphite.  Other players in the value chain include Graphite India Limited, CM Carbon, Huarui Carbon New Material Co. Ltd., Beijing Great Wall Co. Ltd., Hebbel Rubang Carbon Products Co. Ltd., and others. The key players are adopting numerous strategies such as product launch, business expansions, acquisition, agreement, and other developments to stay competitive in the market.

Conclusion

The global graphite market is witnessing significant growth, owing to its increasing use in various industries. The demand for lithium-ion batteries and significant steel production through graphite electrode electric arc furnace are driving the market growth. However, the increasing export duty on graphite in China and decreasing price trend of natural graphite are restraining the market growth. The synthetic graphite segment holds the largest market share, and the refractories segment has garnered the highest market share based on application.

Asia-Pacific has the highest market share in terms of volume and revenue and is anticipated to maintain its dominance throughout the forecast period. The key players are adopting numerous strategies to stay competitive in the market.

 References

1)     Allied Market Research. (2020). Graphite Market by Type (Natural and Synthetic), Application (Lubrication, Refractories, Foundry, Battery Production, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA) - Global Opportunity Analysis and Industry Forecast, 2020-2027. https://www.alliedmarketresearch.com/graphite-market

Canada Has the Financial Capacity to Invest Billions in Green Transition,Analyst Say

Canada is one of the most environmentally conscious countries in the world, and its government has committed to reaching net-zero emissions by 2050. The good news is that analysts believe Canada has the financial capacity to invest billions of dollars in green transition initiatives that will help the country achieve this goal.Canada's Finance Minister, Chrystia Freeland, has recently introduced a budget that includes significant investments in green infrastructure, innovation, and clean energy. This budget is a step in the right direction for Canada to transition towards a low-carbon economy, and analysts believe that the country has the potential to become a leader in the green energy industry.

Canada's Financial Capacity for Investment
Canada's strong economic foundation provides the country with the financial
capacity to invest in a sustainable future. The country's GDP is over $1.6 trillion,
and it has a strong record of economic growth. This economic stability is vital for any government to invest in large-scale projects that will lead to a greener future.
Furthermore, the Canadian government has a relatively low debt-to-GDP ratio,
which means that it has the capacity to borrow money at low-interest rates. This can be a huge advantage in financing green infrastructure projects, which often require large sums of capital.

Investment in Green Infrastructure
The Canadian government's recent budget includes a significant investment of
$17.6 billion in green infrastructure over the next five years. This investment will
fund initiatives that focus on clean energy and zero-emissions vehicles, as well as projects that help to make buildings more energy-efficient.
One of the most significant initiatives in this budget is the plan to retrofit over
200,000 homes to become more energy-efficient. This project will not only reduce carbon emissions but will also help to create jobs in the construction industry.

Investment in Innovation and Clean Energy
Canada's transition towards a low-carbon economy requires significant innovation in clean energy technology. To achieve this, the government has committed to investing $5 billion in clean technology over the next seven years. This investment will fund research and development of new clean energy technologies that will reduce greenhouse gas emissions.
In addition, the budget includes a $1.5 billion investment in a net-zero accelerator fund. This fund will support businesses and industries that are working towards a net-zero future by providing them with financial support to help them reduce their carbon footprint.

Conclusion
Canada has the financial capacity to invest billions of dollars in green transition
initiatives that will help the country achieve its net-zero emissions goal. The recent budget introduced by the Canadian government includes significant investments in green infrastructure, innovation, and clean energy, which will help to create a more sustainable future. Investing in green infrastructure and clean energy not only helps the environment but also creates jobs and drives economic growth. Canada has the potential to become a leader in the green energy industry and contribute to a more sustainable future for generations to come.

References:
1) Canada’s Debt-to-GDP Ratio, Statistics Canada:
https://www150.statcan.gc.ca/n1/pub/71-607-x/71-607-x2019001-eng.htm
2) The 2021 Federal Budget: A Recovery Plan for Jobs, Growth, and Resilience,
Government of Canada: https://www.budget.gc.ca/2021/home-accueil-en.html.

Manganese Batteries Market May Face Deficit in 2024

The demand for electric vehicles (EVs) and renewable energy sources is increasing, leading to a significant increase in the demand for batteries. Manganese is a critical component of these batteries, and the market for manganese batteries is expected to grow in the coming years. However, recent reports suggest that the manganese batteries market may face a deficit in 2024.

Manganese, a silvery-grey metal, is widely used in batteries due to its ability to store energy efficiently and its low cost. It is a key component of Lithium-ion batteries, which are used in EVs and renewable energy storage systems. With the increasing demand for EVs and renewable energy, the demand for manganese batteries is also expected to grow.

According to a report by Roskill, the global demand for manganese in batteries is expected to reach 1.2 million tonnes by 2026, up from 400,000 tonnes in 2020. The report also states that the manganese batteries market may face a deficit in 2024 due to the increasing demand for EVs and renewable energy storage systems.

The deficit in the manganese batteries market can be attributed to several factors, including the limited supply of manganese, the increasing demand for manganese batteries, and the increasing competition for manganese. As more and more companies enter the market for manganese batteries, the competition for manganese is expected to increase, leading to a shortage of the metal. Additionally, the limited supply of manganese is also expected to contribute to the deficit in the manganese batteries market.

To address the deficit in the manganese batteries market, companies are exploring alternative materials for batteries. Lithium and cobalt are two alternatives being considered, but these materials are more expensive than manganese and may not be as efficient in storing energy. Companies are also exploring ways to increase the efficiency of manganese batteries to reduce the amount of manganese required in each battery.

In conclusion, the manganese batteries market is expected to grow in the coming years due to the increasing demand for EVs and renewable energy storage systems. However, the market may face a deficit in 2024 due to the limited supply of manganese and the increasing competition for the metal. Companies are exploring alternative materials and ways to increase the efficiency of manganese batteries to address the deficit in the market.

Reference:

Manganese batteries market may face a deficit in 2024 - https://bit.ly/3Wcoy8X (mining.com; Jan. 3, 2023)

The Importance of Copper: Understanding Why Copper is a Critical Mineral

Copper is a metal that has been used for thousands of years for various
purposes. From coins and jewelry to electrical wiring and plumbing, copper
has been a staple in human civilization. Today, copper is more important
than ever as it has become a critical mineral in modern society. In this blog,
we will explore the reasons why copper is so important and why it is
considered a critical mineral.
1. Electrification: Copper is a great conductor of electricity, making it
essential for electrical wiring in homes, businesses, and infrastructure.
Copper also plays a critical role in the production of batteries and other
energy storage solutions.
2. Building and Construction: Copper is widely used in the
construction industry due to its high ductility and malleability. It is
used in pipes and plumbing systems, roofing, and building facades.
Copper’s resistance to corrosion makes it ideal for use in harsh
environments, such as coastal buildings.
3. Renewable Energy: The growth of renewable energy sources, such
as wind and solar, has led to an increased demand for copper. Copper
is used in the production of wind turbines, solar panels, and other
renewable energy technologies.
4. Transportation: Copper is a key component in the production of
electric and hybrid vehicles, as well as in the construction of trains,
planes, and automobiles. Copper’s high conductivity and ability to
withstand extreme temperatures make it an essential component in
the transportation industry.
5. Health and Technology: Copper is also essential for human health,
as it is a necessary trace element for human nutrition. In addition,
copper is used in various technologies, such as smartphones,
computers, and medical equipment.
In conclusion, copper is a critical mineral that plays a vital role in modern
society. From electrification and construction to renewable energy and
transportation, copper is a key component in many industries. It is important
to recognize the significance of copper and work to ensure a sustainable
supply for future generations.

Reference:

Why Copper Is a Critical Mineral - https://bit.ly/3JK4d8q
(elements.visualcapitalist.com; Feb. 2, 2023

Canada and South Korea Enhance Cooperation on Critical Mineral Production

With the global demand for critical minerals increasing, Canada and South Korea
are working together to enhance cooperation on critical minerals production. Both
countries have identified potential opportunities to collaborate in the development
of new projects, technologies, and markets for these minerals.

What Are Critical Minerals?
Critical minerals are those that are necessary for technological advancement due to
their physical characteristics or scarcity. They are used in a wide range of industries
such as electronics, renewable energy, aerospace, and defense systems. Examples
include rare earth elements, lithium, cobalt, nickel, indium phosphide, gallium
arsenide and many others. The demand for these materials has increased with the
rise of electric vehicles and other green technology.

Canada-Korea Partnership
The Government of Canada recently announced a partnership with the Republic of
Korea to deepen collaboration in the production of critical minerals. To this end,
both countries have established a Working Group on Critical Minerals that will focus
on identifying areas where cooperation is possible. This includes exploring potential
investments in new projects; developing new technologies; finding new markets for
these materials; as well as promoting industry standards for responsible mineral
production in both countries. The Working Group will also seek to identify ways to
strengthen existing partnerships between Canadian and South Korean businesses
operating in the sector.

Conclusion:
The partnership between Canada and South Korea presents a great opportunity for
both countries to benefit from each other’s expertise in critical mineral production.
By working together they can explore innovative ways to develop projects while
ensuring responsible production practices that meet industry standards. This
partnership reinforces the commitment by both governments to promote economic
growth through mutually beneficial collaborations in this growing sector of
international trade.

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Reference:

Canada, South Korea seek deeper cooperation on critical minerals
(mining.com – Sept 23, 2022 - https://bit.ly/3g27Qdn )