Canada’s strategy to build an EV industry could fail if it doesn’t offer incentives to construct mines, say miners. Read on
The demand for electric vehicles has increased globally as nations work on ways to meet their climate goals. Canada is looking to build a low-carbon EV industry and in its last budget allocated $3.8 billion to boost the critical minerals sector.
BHP Group Ltd. received $100 million from the fund in January, but that was meant for the development of its potash mine in Saskatchewan. The remaining announcements were mostly linked to auto and battery companies such as Umicore SA, Stellantis NV and General Motors Co. The federal government announced $14 million in six early-stage Canadian mining projects focused on producing metals such as nickel, lithium and rare-earth groups earlier this month. Gratton described the amount as “peanuts” when compared to the millions each miner will require to eventually build the mine.Article content
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