SAPPORO, Japan, April 14 (Reuters) – Canada is able to grow to be a dependable supplier of important minerals to its worldwide allies together with Japan, a senior official mentioned, because the Group of Seven (G7) nations deem such minerals important for local weather objectives and power safety.
Canada has signed a joint motion plan with the USA to advance safe provide chains for important minerals.
It has related important minerals cooperation agreements with Japan and the European Union.
“We view this useful resource has been very strategic, not solely from an financial standpoint, but in addition from a safety standpoint,” Canada’s minister of setting and local weather change Steven Guilbeault advised Reuters in Japan the place he’ll participate in a G7 ministerial assembly on local weather, power and setting.
The April 15-16 assembly in Sapporo, a part of Japan’s G7 presidency this 12 months, will focus on the rising significance of important minerals for the clear power transition and the necessity to forestall financial and safety dangers attributable to weak provide chains and monopolization, amongst different matters, the newest draft communique seen by Reuters confirmed.
China dominates the marketplace for important minerals used to make electrical car batteries, central to developed nation objectives to decarbonise, and Russia – which invaded Ukraine final 12 months – can be a significant participant.
Final 12 months, Canada requested three Chinese language corporations to promote their stakes in Toronto-listed lithium explorers following a nationwide safety evaluate.
Guilbeault mentioned this was for “strategic safety causes”.
“We now have loads of these important minerals, we’ve virtually all of them in Canada with just a few exceptions. We are able to grow to be a dependable supplier of those assets or merchandise for our worldwide allies like Japan, for instance,” he mentioned.
Reporting by Katya Golubkova and Yuka Obayashi; modifying by Jason Neely
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