B.C. moves to fast-track mining and energy wish list — but only two critical mineral projects

British Columbia's widely-reported plans to fast-track a slate of major mining and energy projects to help declaw the hefty export tariffs threatened by U.S. President Donald Trump includes only two critical mineral mines — the Red Chris and Highland Valley copper projects. But the move could help clear the queue for 17 new critical mineral developments that would boost output of these key energy transition materials from the province.

The provincial government's list encompasses several mixed gold, silver and copper mines — some of which have seen push-back by B.C. and Alaskan First Nations groups, along with an LNG export plant, several power and gas pipelines, and a batch of previously announced wind farms. 

"The instability that the Americans seem committed to creating in the global economy is an opportunity for us to build new relationships and to offer a stable, consistent supply of critical minerals and metals around the world," said B.C. Premier David Eby in a press briefing on Tuesday.

The province's ministry of mining told Canada's National Observer that it was concentrating its efforts on a “preliminary” list of major mines and energy projects that can be accelerated through government action.

"Our focus will be on continued robust review, while getting to permit decisions as quickly as possible, and all four mining projects are advancing in consultation with First Nations," said a government spokesman. 

He added: "Most of the critical minerals mined in B.C. are sold to markets in Asia, including Japan and South Korea, helping to diversify B.C.’s trading partners."

The head of corporate affairs at the Mining Association of British Columbia (MABC), an industry advocacy body, said the project list was an important first step as it recognized the need to expedite permitting of new mines – which can currently take as long as 25 years to build. 

Yearly revenue of $1 billion per mine

However, only two of 17 large-scale critical minerals deposits identified by the MABC in an economic impact assessment study released last month made the cut. If developed, these mines could generate around $1 billion in revenue a year, according to calculations in the report. 

“B.C. has 17 critical mineral projects on the books, including several that are poised to enter permitting processes within the year," Tim McEwan, MABC senior vice president for corporate affairs, told Canada's National Observer.

“Beyond the four mines announced, it is imperative the provincial government work to expedite approvals for other critical mineral and precious metal opportunities."

Clean Energy Canada (CEC), a think-tank, said bringing the mines on Eby’s list into production swiftly would assist in speeding up development of future critical mineral mines.

"This is for a number of reasons," said CEC president Mark Zacharias. Allowing critical mineral mines to move up the queue to get their authorizations more quickly would show investors that B.C. can move a mine proposal through the regulatory processes and help get infrastructure built that will also service future critical mineral mines, he said.

Ideally, critical minerals mined in B.C. would feed into Canada's clean energy supply chains for EVs, batteries, solar panels and wind turbines, along with other destinations in Asia and Europe, Zacharias said.

"This future could be made a reality with federal-provincial cooperation and the right policies in place," Zacharias told Canada's National Observer. 

However great the promise of Canada's critical mineral wealth, the step-by-step of developing a mine in the country remains a long and arduous process. Taking a typical Canadian mine from discovery to production currently averages 27 years, according to a study by S&P Global, slightly faster than the United States (29 years) but longer than Australia’s 20 years.  

"So, any speeding up of this process is greatly welcome," said Frik Els, a mining expert with Adamas Intelligence, a market research house. "But it is hard to know what the B.C. government means by 'fast tracking' – they are not jumping the queue, they are just being prioritized,” he added.

The provincial government was using a broad definition to class critical mineral projects, Els said. “Indeed, only four are mining-related and none of these are 'real' critical mineral projects," he noted. 

Frik said while copper was classed as a critical mineral, only 15 per cent of the U.S. supply comes from Canada, "so this is not going to change the trading relationship Canada and the U.S. have on its own."

"Still, if the threat of tariffs is concentrating minds on critical mining that is no bad thing. But whether copper alone, which like gold and silver is traded on the open market internationally, is a weapon to be wielded in a trade war with the U.S. is debatable."

Critical minerals – a group of 34 minerals and metals ranging copper and cobalt, through germanium and lithium, to nickel and zinc, as well as so-called rare earth materials – could emerge as a hot-button issue in Canada’s upcoming federal election this year. 

Front-running Liberal leadership candidates Mark Carney and Chrystia Freeland have each pledged to streamline the approval process for critical minerals projects and diversify Canadian export markets in response to possible U.S. tariffs.

Conservative Party Leader Pierre Poilievre has also vowed to accelerate approvals for mining projects by dropping Canada’s main environmental impact assessment (EIA) law, known as Bill 69, while still protecting the environment and impact on Indigenous groups.   

“It shouldn’t take 25 years to approve a mine in Canada,” he said during a visit to Sudbury last month.  “It should take 18 months.”

To date, the B.C. ministry of mining has reduced exploration permitting and project review timelines by more than 35 per cent, according to a government spokesman.

Critical mineral mines' need for speed

Els noted that Australia has managed to bring four lithium mines into production in the last five years, but suggested Poilievre's time-frame for mine development is a "wink and a nod to the sector but still a lot better than 20 to 25 years."

Ottawa has not set firm targets for new mines under its critical minerals strategy, which instead, aims to invest $1.5 billion in infrastructure over seven years and $192 million in research to support the “sustainable development of responsibly sourced critical minerals,” a spokesperson for Natural Resources Canada recently told Canada’s National Observer.

Only a handful of critical minerals projects have gained traction in the past year. The first commercial lithium from Sayona Mining’s mine in Quebec was shipped last August. Mining giant Glencore opened Quebec’s Anuri mine in February to extend the life of its Raglan nickel and copper operations by at least 20 years. And Galaxy Lithium’s James Bay lithium project also passed its EIA. 

China today processes 60 to 70 per cent of the world’s lithium and cobalt used in batteries for EVs and mines 60 per cent of the rare earth materials found in solar panels and wind turbine components, as well as processesing 90 per cent of those used in semiconductors.  

Globally, the critical mineral sector is forecast by the International Energy Agency to double in market value to US$770 billion by 2040.