critical minerals

Province launches first phase of critical minerals strategy

Jan 22, 2024 | 3:37 PM

PRINCE GEORGE — Critical Minerals. Those were two keys words that were passed around a lot at the Natural Resources Forum last week and today, the B.C. government unveiled the first phase of a new strategy about critical minerals.

The first phase of the Critical Minerals Strategy launches 11 actions, including:

  • “taking action to expedite critical minerals projects and maximize federal funding opportunities through a new Critical Minerals Project Advancement Office;
  • a B.C. critical minerals atlas to provide world-class geoscience data that is always current, and to support exploration and land-use planning;
  • alignment of Provincial and First Nations Energy and Mining Council critical minerals strategies, and continued engagement with First Nations across the province;
  • B.C. to work in partnership with First Nations and industry to identify and advance critical-mineral infrastructure like the North Coast Transmission Line that is essential to critical-mineral development and growth, supported by a $36-billion BC Hydro capital plan; and
  • taking action to ensure the highest environmental, social and governance (ESG) standards, a new Energy and Mines Digital Trust project that empowers major mining operators in B.C. to be more transparent about where and how their products are made.”

With this announcement, the Premier wants to make it known that B.C. is open for business.

“Once you make your investments in British Columbia, then your investments are safe and that mine will continue to operate.” – B.C. Premier David Eby

Critical minerals, such as copper and nickel are essential components in products like electrical transmission lines, and will be important to B.C.’s energy transition.

According to the province:

“Last year, mineral-exploration expenditure in the province was $643.5 million, 94.1% higher than in 2018, the first full year of this government’s mandate. Mining production value is forecast to be more than $15.9 billion for 2023, a 63.9% increase from 2018.”

AME Roundup 2024 was where the Premier made his announcement and Keerit Jutla, AME President & CEO, said in a statement to CKPG News:

“We welcomed the Premier to AME Roundup 2024, where he offered enhanced support for the mineral exploration sector through the first phase of a critical minerals strategy. The government’s continued investment in geoscience is key to attracting mineral exploration investment and unlocking further potential. We appreciate the government’s acknowledgement that more action is required to facilitate the development of new critical mineral projects, in particular, it is imperative that greater emphasis is placed on competitiveness and the fiscal and regulatory policies that will attract investment in mineral exploration and mine development. We eagerly await further details. In the meantime, our members will work closely with the Critical Minerals Project Advancement Office to continue advocating for additional support on permitting and regulatory processes and guidance on collaboration with First Nations.”

Future actions to expand B.C.’s Critical Minerals Strategy are expected to be delivered in the coming months.

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X: @AdamBerls

Email: Adam.Berls@pattisonmedia.com