Examining Canada's role in critical minerals global competition: a case study on nickel and rare earth elements

Abstract

With the significant increase in global demand for critical metals, including nickel and rare earths, competition in the market for these resources has become increasingly intense. Canada, a country rich in natural resources, plays a crucial role in this global competition and has a well-defined critical minerals strategy. This article proposes an analysis of Canada's strategy and its role in global competition, focusing on two critical minerals: nickel and rare earths. The research methodology is based on two case studies that follow several key aspects: the benefits of the critical resource, Canada's production and resources, and at the global level, trade exchanges, existing projects, market risks, and production chains. The study shows that Canada plays an important role in the global competition for critical metals - nickel and rare earths - primarily through the prism of its resources and recently launched national strategy. The critical minerals strategy aims to strengthen this position and carefully manage market risks, despite significant challenges such as price volatility, China's position and related dependencies.