On 11 March 2021, the Canadian government released an updated
list of 'critical minerals', minerals considered critical
for the sustainable economic success of Canada. The list is set out
in the Canadian Minerals and Metals Plan (CMMP) and is comprised of
31 minerals that the government believes will be essential to the
country's economic security and required for its transition to
a low-carbon economy. The CMMP aims to position Canada as a global
supplier of choice for critical minerals.
Global demand for critical minerals is soaring due to their
extensive use in renewable energy generation, energy storage,
energy transmission, and a wide range of high-tech applications.
This demand arises from a broad base of industries including
telecommunications, automotive (particularly electric vehicles),
aerospace, military and transport technologies. However, the supply
of critical minerals faces several challenges, such as inaccurate
resource estimates, inefficient
