Canada is exploring partnerships with allies to potentially fund critical mineral transactions, aiming to diversify supply chains away from China. Energy and Natural Resources Minister Tim Hodgson said the focus would be on minerals affected by China’s export restrictions that hinder production of key mineral products in G7 and NATO countries. Hodgson indicated Canada seeks deals similar to the U.S. arrangement with MP Materials but structured so output is shared among allies rather than directed solely to one country. The MP Materials deal, announced July 10, is a U.S. public-private partnership to build a domestic rare-earth magnet supply chain and reduce foreign dependency.
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Canada is exploring partnerships with allies to potentially fund critical mineral transactions, aiming to diversify supply chains away from China. Energy and Natural Resources Minister Tim Hodgson said the focus would be on minerals affected by China’s export restrictions that hinder production of key mineral products in G7 and NATO countries. Hodgson indicated Canada seeks deals similar to the U.S. arrangement with MP Materials but structured so output is shared among allies rather than directed solely to one country. The MP Materials deal, announced July 10, is a U.S. public-private partnership to build a domestic rare-earth magnet supply chain and reduce foreign dependency.