Canada adds high-purity iron, phosphorus, silicon metal to critical minerals list

Natural Resources Canada has made three additions to the country’s critical minerals list.

High-purity iron used in green steel making and key to decarbonization; phosphorus, which is essential for batteries and food security, and silicon metal, required for semiconductors and computer chips have been added to the list. That brings the total to 34 critical minerals deemed essential to the country’s economic or national security. The first list was released in 2021.

“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,” Jonathan Wilkinson, Minister of Energy and Natural Resources, said in a release.

“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.” 

Wilkinson noted the list was reviewed and updated following “substantial consultations to focus efforts in developing robust critical minerals value chains.”

In March, explorer First Phosphate (CSE: PHOS) received a mining research and innovation grant from the Quebec Ministry of Natural Resources and Forestry. The company aims to develop a lithium iron phosphate (LFP) battery hub in the Saguenay-Lac-St-Jean region of Quebec that can service demand for LFP battery cathode active material across North America.

Natural Resources Canada said in a release that the 2024 critical minerals list was updated in consultation with provinces and territories; as well as exploration, mining and manufacturing industries and associations; and Indigenous organizations and communities.