WHY THIS IS IMPORTANT TO WISCONSIN: Wisconsin has long been a leader in the production of mining equipment.
Canada has one of the largest mining industries in the world, extracting more than 60 metals and minerals from 200 mines as well as 6,500 sand, gravel, and stone quarries.
Canada sits on a trove of critical minerals—including copper, lithium, nickel, cobalt, graphite, and rare earth elements—many of which form the foundation of modern technologies that power the clean energy industry. They are used in semiconductors, wind turbines, cell phones, solar panels, medical devices, and defense products.
Global demand for critical minerals is expected to double by 2040, according to the International Energy Agency.
In 2022, mineral production totaled $74.6 billion CAD ($54.4 billion USD), while the value of the minerals and metals sector amounted to $109 billion CAD ($79.5 billion USD), 6% of Canada’s gross domestic product. Minerals and metals provided 420,000 jobs, said Minister of Energy and Natural Resources Jonathan Wilkinson.
In December 2022, Canada released its Critical Minerals Strategy, allocating nearly $4 billion CAD ($2.9 billion USD) to drive research and development and add jobs. A 2024 government report shows the plan already has helped to spur new projects including Marathon Palladium in Ontario, the Jansen Potash Mine in Saskatchewan, and James Bay Lithium in Quebec.
The Critical Minerals Strategy builds on the January 2020 Canada-U.S. Joint Action Plan on Critical Minerals that looks to strengthen North American critical mineral production that is needed for defense, aerospace, clean energy, communications, and other key industries.
Wisconsin manufacturers in the mining or renewable energy industries may find opportunities to participate in Canada’s growing mining sector.
