Canada Eyes Streamlining Mine Approvals in Critical Minerals Push
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Canada Eyes Streamlining Mine Approvals in Critical Minerals Push
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Canada Eyes Streamlining Mine Approvals in Critical Minerals Push
(Bloomberg) -- Canada is looking to streamline permitting processes for mines to boost production of metals vital to the global energy transition, as part of government efforts to develop the nation’s critical minerals sector.
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The push is part of the federal government’s latest Canadian Critical Minerals Strategy, set to be released later Friday. The directive suggests greater harmonization and collaboration between levels of government to avoid regulatory duplication. The objective is “one project, one assessment”, according to the 58-page document from Natural Resources Canada.
“The federal government recognizes that predictable and efficient regulatory regimes are a prerequisite for Canada’s economic competitiveness and is making efforts to streamline project assessments and permits,” the report said.
The document builds on a critical minerals discussion paper released in mid June as well as earlier pledges from Prime Minister Justin Trudeau’s government. Canada earmarked C$3.8 billion ($2.8 billion) in its federal budget to implement a new critical minerals strategy over eight years.
Canada produces more than 60 minerals and metals, has more than 200 mines and is home to almost half of the world’s publicly listed mining and minerals exploration companies. The country holds deposits of 31 critical minerals that will be in demand as the world shifts to cleaner energy sources.
--With assistance from Brian Platt.
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