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CA · Country briefPublished Q2 2026Updated daily

Canada

Bilateral IRA equivalence — North America's strategic complement to the US.

Canada anchors the North American critical-minerals diversification programme. Bilateral US-Canada IRA equivalence makes Canadian-refined lithium, cobalt and nickel automatically FEOC-clean. CAD$3.8bn Critical Minerals Strategy plus Investment Tax Credits stack with provincial royalty regimes.

Jurisdiction at a glance

Strong governance, federal-provincial alignment improving. Indigenous consultation regime evolving (UNDRIP-aligned). Capital availability strong via Export Development Canada and PSP/CPP.

Regulatory regime

Provincial jurisdiction over mining (Québec, Ontario, BC, Saskatchewan dominant). Federal critical-minerals list (31 minerals) refreshed 2024.

Authorities & actors

  • NRCan
    Critical Minerals Centre of Excellence
  • ISED
    Strategic Innovation Fund — CAD$2bn for CM
  • EDC
    Export financing, project debt
  • Provincial ministries
    Permitting, royalties

Key policies

  • Critical Minerals Strategy 2022
    CAD$3.8bn over 8 years
    Active
  • CMITC (30% ITC)
    Extraction & processing investment tax credit
    Active
  • US-Canada IRA equivalence
    Canadian-refined material qualifies for §30D
    Active

Mining cadastre & data sources

Each province publishes its own cadastre (Québec MRNF, Ontario CLAIMaps, BC MTO). STRATEGIA reconciles into federated supplier table, with NRCan critical-minerals geoscience layer overlaid.

ESG regime

UNDRIP federal implementation (Bill C-15) requires Indigenous free, prior and informed consent. IAMGOLD-style consultation now standard at exploration stage.

Top materials produced

Nickel sulfide
Tier 1 deposits
Sudbury basin (Vale, Glencore) + Voisey's Bay
Cobalt
Top 5 globally
Glencore Sudbury + Cobalt-Tarapacá refinery
Lithium (hard rock)
Emerging
Patriot Battery Metals (QC) + Sayona (QC)
Graphite
Top 5 globally
Nouveau Monde Matawinie (QC), Mason Lac Guéret
Rare earths (light + medium)
Emerging
Vital Metals + Saskatchewan separation pilot

Top operators in this jurisdiction

Nouveau Monde Graphite
Ramping
All-electric mine + Bécancour anode plant
Talon Metals
Permitting
Tamarack Ni-Cu-Co with Rio Tinto JV + Tesla offtake
Li-Cycle
Ramping (US)
Glencore offtake, North America hydromet

In the STRATEGIA Atlas

  • Nouveau Monde Graphite — MatawinieESG 88Ramping

12-month outlook

Patriot Battery Metals DFS 2026-Q4. Bécancour battery valley reaching commercial-scale anode supply. Federal-Québec lithium royalty review pending.

Watchlist

  • Patriot DFS publication
  • First commercial CSPG shipments from Bécancour
  • Glencore Sudbury cobalt expansion FID
  • Saskatchewan REE separation plant 2026 commissioning

Recent intelligence

  • 2026-05-23 · New Source
    Nouveau Monde Graphite achieves first commercial CSPG production

    Bécancour, Québec — first coated spherical purified graphite shipment to Panasonic Energy. Annual run-rate 18,000t; full ramp to 42,000t by Q3-2026. Material qualifies as Foreign Entity of Concern compliant under IRA §30D.

Get the full Canada diligence file

This brief is the public summary. STRATEGIA subscribers receive the full 24-page diligence file with corporate-level data, beneficial-ownership tracing, FEOC scoring per operator, and quarterly updated supplier lists.

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