Management

The Australian waveCanada’s rich mineral deposits and generous critical minerals incentives are attracting Australia-based companies, fostering collaboration between the two nations to secure a reliable supply of commodities needed for the energy transition

Canada’s rich mineral deposits and generous critical minerals incentives are attracting Australia-based companies, fostering collaboration between the two nations to secure a reliable supply of commodities needed for the energy transition

By Alexandra Lopez-Pacheco

November 20, 2023

Wyloo finalized its acquisition of Noront Resources and its Eagle’s Nest project in Ontario’s Ring of Fire region in April 2022. Courtesy of Wyloo

Over the last five years, Australian mining companies have been flocking to Canada. Between 2018 and 2022, direct Australian investment in Canada’s mining and quarrying industry grew exponentially from $1.7 billion to $9.8 billion, according to Statistics Canada. In just two years from 2020 to 2022, the investment more than doubled. While the figures for 2023 are not yet available, anecdotally, it seems the Australian mining wave in Canada continues to grow.

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