U.S. pressing ahead with critical minerals plan

WASHINGTON - The White House is unveiling plans today for what it calls a "made in America" supply chain for the rare-earth minerals at the heart of the electric-vehicle revolution.

But despite the protectionist rhetoric, experts are urging Canada — which has critical minerals ambitions of its own — not to panic.

The announcement marks this week's one-year anniversary of a supply chain review that found the U.S. is overly dependent on foreign sources, especially China.

It will include news of "major" investments in domestic production that are designed to benefit local communities and create well-paid union jobs.

Canada's own plans to develop its critical mineral resources depend heavily on U.S. demand for the metals, which are used in the production of EV batteries and components.

Experts, however, say there will still be plenty of room in the U.S. plan for trusted allies who can help bolster American supplies.

The White House says global demand for critical minerals is expected to increase by more than 400 per cent over the coming decades, and 4,000 per cent in the case of lithium and graphite.