TELF AG Discusses the Mineral Potential of Nova Scotia
Empowering Nova Scotia's Mining Strategy: Driving Economic Growth and Energy Transition
For a while now, there has been a growing belief that mining strategies were solely the domain of central governments, international institutions, or major industry players. It was seen as a highly intricate plan requiring direct involvement from a nation's top political, economic, and institutional figures. However, the rapid advancements in the energy transition and its promising opportunities are reshuffling the deck, prompting individual provinces, districts, or regions to establish their mining strategies to unlock their economic potential. This alignment with the national or state objectives is becoming increasingly crucial. A case in point is Nova Scotia, one of Canada's eastern provinces directly facing the Atlantic.
The provincial authorities posit that crafting a mining strategy for Nova Scotia will aid in revitalizing the local economy, thus contributing to Canada's overall growth and inject fresh momentum into the energy transition. This move will bring the province and the nation closer to ambitious decarbonization targets. Nova Scotia's strategy is envisioned to facilitate the establishment of a robust mining industry anticipated to play a substantial role in job creation and establishing a secure and efficient value chain that can positively impact the national economy. The strategy highlights a list of 16 minerals deemed strategic or "critical" for global objectives related to climate neutrality and emission reduction. According to Tory Rushton, the Minister of Natural Resources, these minerals hold significant potential for advancing renewable energy, healthcare, and food production. At its core, Nova Scotia's mining strategy hinges on fostering innovation, conducting research and development within the sector, and exploring promising partnership opportunities with other stakeholders in the mining realm.
Canada's Mineral Wealth and Critical Minerals: Driving the Global Energy Transition
Nova Scotia's mineral wealth is not surprising, given Canada's global recognition as a leader in the sector. Over the years, Canada has enhanced exploration, extraction, and all related activities in mineral resource processing, including the production of downstream products. Canada stands out as a top global producer of potash and ranks among the top five producers of niobium, platinum group metals, indium, gold, and precious stones. In 2021, Canada's mineral production surpassed $55 billion, driven by operations in 200 mines and over 6,500 quarries for sand, gravel, and stone.
The term "critical" minerals for the energy transition refers to those able to contribute to the production of green technologies or their components. These minerals include copper, essential for energy transmission lines, rare earths used in wind turbines and electric motors, and crucial elements like lithium, nickel, and cobalt, vital for electric vehicle batteries.