Natural Resources Minister Jonathan Wilkinson unveiled the federal government's critical minerals strategy on Friday, which he said would help create jobs across the country and grow the economy. It includes driving exploration and building sustainable infrastructure in order to avoid the risks that come from international partners which don't share common values, alluding to the challenges facing European allies struggling with Russia's weaponization of energy supplies.
Among the measures is a 30 per cent tax credit for minerals such as nickel, lithium, cobalt, graphite, copper, rare earth elements, vanadium and uranium.
Wilkinson also spoke about the strategy and its relation to foreign investment, like what would prevent producers from selling products to certain countries, such as China. Wilkinson said while Canada is open to investment from countries like Australia and the U.K., they were also focused on ensuring democratic countries have access to the resources they require "in a manner that does not make them vulnerable," giving an example of Germany becoming vulnerable to Russia over energy supply.
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