It’s an unfortunate truth: Canada is facing economic challenges, including weak growth and productivity, stemming from declining investment in our key industries. The investment shortfall is particularly acute in the mining sector, where Canada’s proud and prominent legacy of global leadership is under serious threat.
As Canadian metals and minerals companies look for financing and sources are ruled off-limits, this has resulted in a “capital gap.” Now, the most recent policy directive compounds existing challenges and the gap is set to increase.to provide more clarity around how Net Benefit reviews under ICA will be conducted when
The minister stated the restrictions will apply to “important Canadian mining companies” that are “engaged in significant critical minerals operations.” But what are the criteria for defining a “significant” investment or an “important” company? Furthermore, what does it mean to be “engaged in” critical minerals operations? Must a company have ownership control, or does this definition also capture a minority stake or a joint venture?
Today, much of the economic activity related to Canada’s extractive industries reaches beyond our borders. Mining is a global industry, and the country has maintained a leadership position not only because of the minerals here but also