According to a report in The Wall Street Journal, underneath much of Canada’s pristine forest and wilderness lies vast deposits of cobalt, nickel and platinum.
Interestingly, some eco-justice warriors argue these metals must be harvested because they are critical to advancing “green technologies” such as electric vehicle batteries.
However, in order to access those reserves … they would have to tear up swaths of a forest and otherwise develop wilderness to get access.
Scientists speculate the “Ring of Fire” deposited the vast reserve of precious metals approximately 700 miles northwest of Toronto millions of years ago.
Estimated to be larger than the size of Rhode Island, the discovery of the deposit area has prompted a flood of mining claims.
The Daily Caller noted the deposit is located in “largely untouched forestry and peat bogs and is proximate to several indigenous tribes” and that several environmentalist groups oppose mining operations in the area.
Experts note that full-scale mining would require the removal of peat bogs, building all-weather roads through the remote region, and possibly rerouting waterways and displacing indigenous people.
The Daily Caller reported that “the region is mostly only accessible when waterways are frozen over via ice roads or when cargo planes can land on frozen lakes.”
Simon Moores, CEO of Benchmark Mineral Intelligence, favors mining and told The Wall Street Journal that “Canada could be the world’s number one supplier of critical minerals if they get it right now.”
The revelation of vast mineral reserves follows recent U.S. and Canadian concerns regarding reliance on China for materials supporting green industry initiatives.
The International Energy Agency projects the global demand for cobalt, nickel and platinum to spike as more businesses pursue green energy initiatives. Currently, China is the primary provider of these resources.
The Wall Street Journal reported that the U.S. military is lobbying to encourage private companies to extract the minerals.
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