Critical minerals serve as the backbone of modern technology, indispensable in a vast array of products from mobile phones and solar panels to electric vehicle batteries, medical devices, and defense applications.

The Government of Canada acknowledged the importance of critical minerals, identifying 34 minerals and metals on its critical minerals list, found below. 

Initially introduced in 2021, the list underwent an update in 2024, following consultations with various stakeholders. The 2024 update welcomed three new minerals:

1. High-purity iron — Crucial for green steel production and decarbonization efforts.

2. Phosphorus — Vital for battery technology and ensuring food security.

3. Silicon metal — Essential for manufacturing semiconductors and computer chips.

The classification of these minerals as critical in Canada is based on specific criteria:

1. The threat to the supply chain.

2. The potential for domestic production within Canada.

Additionally, a mineral must satisfy one of the following conditions:

1. It is indispensable for Canada’s economic or national security.

2. It is integral to the country's transition to a sustainable low-carbon and digital economy.

3. It positions Canada as a reliable and strategic partner in global supply chains.

 Italy's machinery manufacturers are poised for a significant opportunity as Canada updates its Critical Minerals List to include high-purity iron, phosphorus, and silicon metal. With these minerals being essential for green and digital technologies, Italian machinery manufacturers can capitalize on this update by continuing to innovate equipment tailored for efficient extraction and processing. 

The collaboration opportunities between Canada and Italy can contribute to strengthening supply chains and driving sustainable development.

 News and Image Source: Government of Canada