Canada Invests in Critical Minerals infrastructure

by | 17. Jul 2024 - 10:05 | Politics

142 million US dollars for the expansion of highways.

Canada and the government of British Columbia announced this week that they will invest the equivalent of 142 million US dollars in infrastructure related to critical minerals in the western province. The focus is on measures to expand the highways, which in turn are essential for the expansion of mining activities, according to a press release from the Canadian government. The region is home to around 75 percent of Canada’s copper reserves. Defense Metals is currently developing a rare earth project that could become an important building block for Canada’s Critical Minerals Strategy. It aims to make the country an alternative to the raw materials giant China. To this end, approval procedures for new mines are to be accelerated, among other things.

In addition to numerous jobs, British Columbia could benefit from extensive further investment as well as additional tax revenue. There would also be economic prospects for the local indigenous communities. According to the press release, every new job in a mine in British Columbia is estimated to create two more in companies along the value chain.

Photo: Tom Fisk via Canva

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