Canada is positioning itself as a strategic counterweight to China’s dominance of rare earths and critical minerals. But the Canadian mining sector needs more investment to become an alternative supplier of the materials essential for the energy transition, industry experts say…Critical minerals have been a central focus of US President Donald Trump, who issued an executive order in March this year to “take immediate action to facilitate domestic mineral production to the maximum possible extent”…Heather Exner-Pirot, director of energy, natural resources and environment at the Macdonald-Laurier Institute in Ottawa, said financial support of the mining industry rather than policy was what is really needed…“There’s consensus on using public funds to support projects with a security aspect,” she said. “But it will always be a challenge to find the right balance — to maximise the flexibility and responsiveness of the market with the structures of the private sector.” …In July the US defence department made an unprecedented $400mn direct investment in the Las Vegas-based MP Materials and guaranteed a decade-long price floor for its output at nearly double the current market rate…The Pentagon has made several minor investments in Canadian critical mining companies but far more is needed to encourage investment and to build refineries…On average, a Canadian mine takes almost 18 years to become operational if it came online in 2020–23, according to an S&P Global study that looked at gold, copper, nickel and lithium projects that began production since 2000… London said Canada needed an integrated strategy for a complete re-industrialisation of its economy and geopolitical outlook… “We need to get a blue-ribbon panel of proven and trusted industrial and financial experts to say, ‘here are the five projects or value streams we are going to be doing’ and get them into production. Right now, we essentially just aspire to do that,” he said.

Aluminium, steel and copper have all been hit with steep U.S. import tariffs this year, upending physical supply chains and fracturing global pricing…Which metal is next for the tariff treatment?...There is no shortage of potential targets. The United States Geological Survey's (USGS) latest iteration of its critical minerals list now includes 54 elements deemed essential for U.S. economic and national security…All come under the scope of President Donald Trump's Section 232 investigation into U.S. critical minerals import dependency. The investigation was launched in April and the final report and any potential tariffs are due in October…And now also lead and silver…The USGS recommends both for inclusion, along with potash, silicon, rhenium and copper…The United States is a net exporter of copper ore and concentrates, but the USGS highlights the country's import dependency for refined metal as a reason for inclusion…The Trump administration backed off from immediate tariffs on refined copper, but confirmation of the metal's new national security designation would increase the likelihood of a threatened phase-in from 2027…Minerals-based industries contribute more than $4 trillion to the U.S. economy and, to quote the USGS, "the loss of even one can ripple through entire industries, from semiconductors to defense systems, undermining production capacity, technology leadership and American jobs"…Other rare earth elements, such as lutetium and terbium, make it into the top 10 along with semiconductor chip materials gallium and germanium as well as tungsten…All of them are subject to some form of Chinese export restriction as Beijing leverages its grip on global supplies in response to U.S. restrictions on advanced computer chip sales to China…The sheer number of potential metallic targets has inhibited individual markets from pricing in the probability of U.S. tariffs…Each individual metal on the lengthening USGS list of critical minerals has its own unique dynamics in terms of import dependency, alternative suppliers and domestic production potential…The broad spectrum of minerals now classified as critical argues for an equally tailor-made approach to determining solutions…Trump, of course, may disagree…Either way, global metal markets are in for more tariff turbulence, whether they're pricing it or not.

One area already benefiting from strong structural tailwinds that has gained even more attention is critical minerals, which refers to metals essential to modern technologies, industries, and national security, whose concentrated supply makes them vulnerable to disruption…Even before today's geopolitical tensions, demand for many of these metals was already surging…The turning point came in the 2010s, when the rise of smartphones, renewable energy and electric vehicles began transforming markets for lithium, cobalt, rare earths and copper…Over the past two years, critical minerals have shifted from being a structural growth theme to a geopolitical flashpoint…In the US, the Inflation Reduction Act (IRA) introduced rules that restrict EV subsidies if the underlying minerals come from "foreign entities of concern," effectively redrawing the map of who American automakers can buy from…In August 2025, the US Department of the Interior proposed to add copper and silver to its official list of critical minerals, underlining just how broad the security lens has become…The European Union has also hardened its stance with the Critical Raw Materials Act, setting binding 2030 targets for local mining, processing and recycling, and capping reliance on any single foreign supplier…Meanwhile, China has weaponised its dominance, imposing export controls on gallium, germanium and graphite - materials central to semiconductors and batteries…These moves have jolted Western industries and reinforced the perception that critical minerals are no longer just about economics but strategic leverage…Critical minerals also look set to play a key role in future trade and security deals. Earlier this year, the US and Ukraine signed a memorandum of understanding giving American firms access to Ukraine's graphite, titanium, lithium and neon reserves, a clear example of resource diplomacy tied to broader geopolitical goals…These developing government policies point to the fact that critical minerals are no longer just an input growth story. They are strategic assets whose value and availability will be shaped as much by geopolitics as by market demand.