The Daily Populous Thursday December 5th, 2024 morning edition
Authored by financialpost.com and submitted by joe4942

China’s move to ban exports of rare metals to the United States underscores the need for trade co-operation between mineral-rich Canada and its southern neighbour.

That’s the message from the Mining Association of Canada, which argued that China ’s decision to curb shipments of gallium, germanium and other key metals to the U.S. is “a stark reminder of the challenges posed by geopolitical tensions, particularly on the reliable supply of critical minerals .”

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The statement from the mining association follows the escalation of trade tensions with the U.S., after president-elect Donald Trump threatened to slap 25 per cent tariffs on all goods coming from Canada and Mexico unless the countries each do more to stem migration and fentanyl.

“Imposing tariffs on Canadian mineral and metal exports to the U.S. would run counter to the shared goals of secure and reliable supply chains,” Pierre Gratton, the mining association’s president, said in Tuesday’s statement. “Such measures risk disrupting the essential flow of these resources, undermining the competitiveness of North American industries, and exacerbating vulnerabilities in critical mineral supply chains that both nations are working to address.”

More than half of Canada’s mineral exports — valued at more than $80 billion — were destined for the U.S. in 2022, according to the Canadian group. Its members include Barrick Gold Corp., Agnico Eagle Mines Ltd., Cameco Corp., BHP Group Ltd. and others.

Meanwhile, Vancouver-based metals producer Teck Resources Ltd., one of the world’s largest integrated germanium producers, said it’s looking at ways to boost its output of the metal in the wake of China’s export ban.

Germanium’s uses include fibre optics, night-vision goggles and space exploration. Most satellites are powered with germanium-based solar cells. Canada was responsible for supplying nearly half of the U.S.’s import needs of germanium between 2019 and 2022, according to the U.S. Geological Survey.

alpacinohairline on December 4th, 2024 at 21:32 UTC »

This man isn’t even POTUS yet. It’s nuts how much controversy that he’s accumulating now.

HighDefinist on December 4th, 2024 at 18:17 UTC »

Kind of expected, considering (basically) the same thing happened during Trumps last presidency, but it's a bit surprising it's happening so quickly...

joe4942 on December 4th, 2024 at 16:57 UTC »

China's recent ban on exports of rare metals, including gallium and germanium, to the United States highlights the importance of trade cooperation between Canada and the U.S. The Mining Association of Canada emphasized that this decision reflects the challenges posed by geopolitical tensions on the supply of critical minerals. The association's president warned that imposing tariffs on Canadian mineral exports could disrupt essential supply chains and undermine North American industry competitiveness. In 2022, over half of Canada's mineral exports, valued at more than $80 billion, were sent to the U.S. In response to the export ban, Teck Resources Ltd. is exploring ways to increase its germanium production, as the metal is vital for various technologies, including fiber optics and solar cells.