The importance of critical minerals to Canada and the world was highlighted when more than 17,000 attendees participated in the recent Prospectors & Developers Association of Canada (PDAC) 2022 event staged in Toronto.
The 2022 event, held between 13 and 15 June, featured the first-ever in-person and online convention after recent years had been severely affected by the COVID-19 pandemic.
The world-leading mining event also featured a major focus on critical minerals and the electric vehicle (EV) revolution.
As the world moves toward electrification and EVs, many discussions at PDAC, the annual international mining conference in Toronto, centred around Canada’s opportunity to leverage its unique resource base and policy.
An early pinnacle was a presentation by Jonathan Wilkinson, Canada’s minister of natural resources, who stressed that increasing demand and constrained supply of all-important critical minerals are presenting Canada with a generational economic opportunity, with the government of Canada committed to seizing that opportunity while delivering on its ambitious climate and nature goals.
“Critical minerals offer an enormous economic opportunity for Canada as the world transitions to a green and digital economy. Our government is committed to making Canada a world leader in critical minerals, from exploration to recycling,” the minister stated.
“As the world grapples with the existential threat that is climate change and strives to meet its net-zero commitments in a manner that enables prosperity and energy security, Canada has the opportunity to become an indispensable global player.
“We have the good fortune here in Canada to have abundant critical mineral resources. In fact, we possess all 31 of the minerals listed on Canada’s critical minerals list and significant deposits of those minerals that will be in greatest demand.”
“Canada’s Critical Minerals Strategy will position Canada as the global supplier of choice for the critical minerals and materials needed for the green, digital global economy.
The government’s ultimate goal is to develop an end-to-end supply chain
“We will work with provinces, territories, Indigenous peoples, industry and stakeholders to create a strategy that will create good jobs for Canadians, grow our economy, and make Canada a vital player on the world stage.
The minister told conference participants that the government’s ultimate goal is to develop an end-to-end supply chain encompassing “upstream exploration and mining to midstream refining and processing to downstream manufacturing and recycling”.
“Given the number of deposits and the untapped mineral potential for key resources needed to produce lithium-ion batteries, not to mention our world-class manufacturing sector, Canada is extremely well-positioned to develop a globally competitive value chain,” he said.
Building on the government’s nearly C$3.8B commitment on critical minerals in Budget 2022, Minister Wilkinson released the government’s discussion paper to inform Canada’s critical minerals strategy.
This discussion paper will seek input from provinces and territories, Indigenous peoples, industry and interested stakeholders, guided by five key outcomes:
- Economic growth and competitiveness
- Environmental protection and climate action
- Enhanced security and partnership with allies
- Advancing reconciliation
- Advancing diversity and inclusion
Also launched at PDAC was the Canadian Minerals and Metals Plan (CMMP) Action Plan 2021. Developed by federal, provincial, and territorial governments in partnership with Indigenous peoples and in collaboration with industry, the innovation community and other stakeholders, the CMMP is a pan-Canadian plan to improve the competitiveness of the entire minerals and metals sector and position the country to respond to opportunities.
Highlights of the CMMP Action Plan 2021
The critical minerals strategy is part of Canada’s strengthened climate plan, “A Healthy Environment and a Healthy Economy” (HEHE), which advances the country’s goals of reducing greenhouse gas emissions by 40 to 45% below 2005 levels by 2030, and reaching net-zero emissions by 2050.
The strategy will support the minister of natural resources and the minister of innovation, science and industry’s mandate-letter commitment to develop and launch a Canadian critical minerals strategy to position Canada at the forefront of critical mineral exploration, extraction, processing, and manufacturing; to improve critical minerals supply chain resiliency; and to position Canada as a leading mining nation.
This work will build on recent success in the Canadian critical minerals space, including major investments in the Canadian EV industry.
The federal-provincial-territorial Canadian Minerals and Metals Plan (CMMP) was released in 2019 to boost Canadian competitiveness and take advantage of opportunities such as achieving a net-zero global economy. CMMP Action Plan 2020, Update to Action Plan 2020, and CMMP Action Plan 2021 include concrete measures to operationalize the CMMP and deliver results for Canadians.
Action Plan 2021 includes concrete action to operationalize the CMMP. This includes the release of the Pan-Canadian Geoscience Strategy to help meet growing demand for responsibly sourced minerals and metals, mitigate climate change, stimulate economic development and deliver workshops across Canada to support procurement with Indigenous companies and businesses.
Action Plan 2021 provides updates on actions to reduce mining’s footprint, develop innovative Canadian solutions to global mining challenges, build mineral literacy, establish a Canada brand and collaborate on critical minerals. It also introduces a strategy to track the progress of the CMMP in meeting its targets and to help identify areas for future work.
PDAC success
The PDAC 2022 Convention was once again hosted by the Prospectors & Developers Association of Canada, which is celebrating 90 years as the voice of Canada’s mineral exploration and mining industry.
“The PDAC Convention is iconic for the world’s mineral exploration and mining industry. It is a staple in social calendars for those who work in our business because it is an event that simply cannot be missed,” PDAC’s president, Alex Christopher, said.
“Like most of the world, the mineral exploration and mining industry faced a variety of challenges during the pandemic, and yet its significance and resilience has remained admirable, and that pride was on full display at the PDAC 2022 Convention,” Mr Christopher said.
The PDAC Convention will return to its traditional dates in March next year to realign with industry and market forces.
Highlights from the PDAC 2022 Convention include:
- Captivating discussions and standing-room-only crowds across a number of programmes
- Six of the industry’s top performers were honoured with a PDAC 2022 Award
- Record attendance at the opening ceremonies
- High attendance and engaged conversations at the Indigenous Program, including a session on navigating UNDRIP the right way
- Expanded Keynote Program featuring presentations from industry experts on commodities, the mineral outlook, technology and new discoveries
- WiM’s annual Mining for Diversity Reception on 14 June and the inaugural launch International Day of Women in Mining on 15 June
PDAC, in partnership with the World Economic Forum, hosted the seventh annual International Mines Ministers Summit (IMMS), bringing together 20 Ministers responsible for mining from around the world to discuss the industry’s role in reducing global emissions.
