“By updating Canada’s Critical Minerals List, we are taking a proactive step to ensure that Canada’s efforts to seize the generational economic opportunity presented by our critical minerals wealth is well informed by the most accurate market trends, geopolitical factors and science,” Wilkinson said. “Investments in critical minerals projects create good jobs for workers, more avenues for Canadian innovation and lower emissions across the country — all of which form an important part of our plan to build a cleaner Canada and a prosperous, sustainable economy.”

Canada released its first Critical Minerals List in March 2021 with a commitment to review the minerals identified as critical every three years. The list guides federal policy and programs and signals government areas of priority to stakeholders.

An analysis was undertaken to review all minerals included in the 2021 list and consider potential candidates for addition. These analyses resulted in an updated Critical Minerals List that retains all 31 minerals from the 2021 list and adds three minerals, high-purity iron ore, phosphorous and silicon metal. These materials are integral to a variety of products, critical to the energy transition are often those in short supply and they are those that are critical to our future economic prosperity.

Silicon metal is essential to the manufacture of chips and semiconductors, used in almost everything electronic. High-purity iron ore is essential to green steel and integral to decarbonization. Phosphorus combined with potash is essential for food security through the production of fertilizers. Phosphorus can also be used in lithium iron phosphate batteries, another strategic opportunity in the electric vehicle value chain.

Champion Iron Ltd. said it welcomed the addition of high-purity iron ore to the list. “We applaud the Government of Canada for joining the governments of Québec and Newfoundland and Labrador in identifying high-purity iron ore in their respective critical minerals lists,” said David Cataford, CEO, Champion Iron Ltd. “Such a recognition highlights our company’s rare solution to decarbonize the steel industry, which represents nearly 10% of global carbon emissions. The Labrador Trough hosts one of the largest resources of high-purity iron globally, creating an exceptional opportunity for Canada to become a global sustainable leader in the green steel supply chain.”