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ARTICLE · 25 JUNE 2021

Canada And EU Announce Critical Minerals Alliance

Osler, Hoskin & Harcourt LLP
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On June 14, 2021, Canada and the European Union (EU) announced a new strategic partnership around critical mineral supply chains.

GlobalInternational Law
Osler, Hoskin & Harcourt LLP
Osler, Hoskin & Harcourt LLP
Alan Kenigsberg
Alan Kenigsberg
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On June 14, 2021, Canada and the European Union (EU) announced a new strategic partnership around critical mineral supply chains. This announcement comes out of the recent Canada-EU Leaders' Summit and may create new avenues for Canadian corporations to capitalize on business opportunities in the European single market. It is also indicative of the growing role that geopolitical tensions are playing in institutionalizing bilateral relationships in international trade.

With the global economy transitioning to a low-carbon and more digitized model, the partnership represents an attempt by the Canadian and EU governments to secure supply chains for minerals and metals that will be critical to advanced manufacturing. In doing so, both countries are notably trying to diversify their economic reliance away from countries such as China, which had previously supplied some 98.5% of the EU's rare earth elements and remains a key export destination for Canadian raw materials,

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