https://liberal.ca/our-platform/critical-minerals-and-batteries/

As the market for batteries grows, the global race is on to attract new manufacturing facilities and jobs. Canada has all the right ingredients to win the race.

We initiated the Mines to Mobility Strategy to attract investments that build up Canada’s battery supply chain, from mining and processing raw materials to assembling road-ready electric vehicles. In just the last year, the strategy has attracted $6 billion in planned investments in Canada’s automotive sector.

To position Canada as a world leader in the global battery economy, a re-elected Liberal government will:

• Build an end-to-end, sustainable battery supply chain.
• Work to attract near-term multi-billion anchor investments in key areas like minerals processing and cell manufacturing.
• Double the Mineral Exploration Tax Credit for materials on the Canadian list of critical minerals which are essential to the manufacturing of vital clean technologies, such as batteries.
• Establish Canada as a global leader in battery recycling and reuse, to improve the environmental impact and build a competitive advantage.
• Launch a Canada-U.S. Battery Alliance for stakeholders in both countries to identify shared priorities and create environmental requirements that lead to an integrated, world-scale battery supply chain.
• Work with stakeholders to identify new strategic priorities, including future battery types, ways to optimize batteries for cold weather performance and long-duration storage, and applications in heavy-duty transportation.
• Address gaps in training and upskilling to ensure that all Canadians workers can take advantage of battery industry opportunities.
• Use all tools, including the Investment Canada Act, to ensure the protection and development of our critical minerals from both an economic and national security perspective.

https://www.mondaq.com/canada/mining/1094342/critical-minerals-a-new-focus-for-foreign-investment-review#:~:text=Under%20the%20Investment%20Canada%20Act,even%20if%20mines%20themselves%20are

Critical minerals

The Canadian government's current views on the significance of critical minerals have been developed in two recent and important policy statements:

• A Critical Minerals List, released on March 11, which includes 31 minerals considered critical for the sustainable economic success of Canada and its allies1. The list is largely consistent with a similar U.S. government list of 35 critical mineral resources.
• Updated guidelines on the national security review of foreign investments, which were released on March 24. The guidelines identify areas that could raise national security concerns, and now include acquisitions of Canadian businesses involved in producing critical minerals.

Critical minerals are viewed as those that are: essential to the economy of Canada and its allies; and whose supply may be at risk due to geological scarcity, geopolitical issues, trade policy or other factors2. A key concern is with market dominance by suppliers that are state owned enterprises and the risk of politically motivated supply disruption. Canada is not alone in expressing concerns of this nature3.

Investment Canada Act reviews

Under the Investment Canada Act (ICA), the government has discretion to review virtually any foreign investment on the grounds it could be "injurious to Canada's national security." The review jurisdiction is broad and covers mining businesses with part of their operations in Canada, even if mines themselves are located overseas.

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