Canada and the US signed a Memorandum of Understanding confirming Canada’s participation in the Energy Resource Governance Initiative (ERGI), reflecting mutual interest in improving global supply chains for critical minerals. Both countries recognize global demand for minerals will increase dramatically in the coming years and this MoU provides an important framework for cooperation in addressing these complex challenges and securing supply chains for the critical minerals needed to support important manufacturing sectors, including aerospace and defense, and clean technology. Washington has grown more concerned recently about its dependence on mineral imports after Beijing suggested using them as leverage in the trade war between the world’s largest economic powers. It is estimated that China controls more than 80 per cent of the global supply chain of the rare earth elements.
