Canada is officially designating certain critical minerals as a national security priority under the Defence Production Act, a move that would allow the federal government to support the mining industry by guaranteeing it a buyer and a minimum price.
The move was announced at a G7 energy and environment meeting in Toronto on Friday, where countries discussed countering China’s overwhelming dominance of critical mineral production. Those minerals are essential for modern technologies like electric vehicles and clean energy, and Western nations have been growing increasingly anxious over China’s control of their supply chain.
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Oh look! Socialism!
National stockpiles are just a good idea. Not only to they stabilize supply, but demand as well. And the stockpile makes cash (as it buys low during gluts and sells high during shortages).
Absolutely! I’m sure the Americans will keep their clean hands off filthy socialist minerals and will declare canada a terrorist state. They will maintain capitalist purity!
I mean, the US govt keeps strategic stockpiles of various commodities too.
Yes, they are hypocrits aren’t they.