Building on Canada’s homefield advantage

As originally published in the Canadian Mining Magazine

As we moved through 2025, the sentiment across Canada’s mining landscape noticeably shifted.

We began the year navigating a fog of political and trade‑related uncertainty that required a national response on many fronts, and emerging from that is a much clearer sense of mission. For those of us observing the intersection of energy policy and resource security, it is evident that there is a strategic necessity being built in real time.

This sentiment is being propelled by governmental alignment as federal and provincial officials pivot toward decreasing jurisdictional friction in hopes of creating a “nation‑building” playbook. From the “One Project, One Process” agreement to the expansion of the Critical Minerals Strategy across the country, there is a movement to strip away the regulatory hoops that have historically slowed us down. Our governments are finally moving in tandem to transform Canada from untapped potential into the secure, high‑speed engine of the energy transition.

Fiscal certainty

We are operating in an environment where markets have tightened and Canada’s share of global investment is under pressure. For companies trying to enter the market, the struggle to access capital remains a significant hurdle. Turning an early‑stage project into a world‑class discovery requires patient, reliable capital.

That’s why the recent governmental alignment is the most significant and positive shift in the last year.

The decision to provide a multi‑year renewal for the Mineral Exploration Tax Credit (METC) has been important in stabilizing the industry.

Furthermore, the expansion of the Critical Mineral Exploration Tax Credit (CMETC) to include 12 additional minerals—ranging from high‑purity manganese to germanium—acknowledges that our national security is tied to our mineral diversity. With the federal government’s $2‑billion Critical Minerals Sovereign Fund, Canada is positioning itself as a strategic partner capable of de‑risking the most capital‑intensive stages of development.

Modernizing the framework

We are witnessing a long‑overdue modernization of the regulatory landscape through the ongoing review of the National Instrument 43‑101 Standards of Disclosure for Mineral Projects, known as the NI 43‑101 framework.

This proposed overhaul, the first in a quarter century, signals a maturing industry that is finally aligning its disclosure standards with the realities of modern environmental, social, and governance (ESG) principles and Indigenous engagement. Although still in the proposal phase, these updates promise to move compliance beyond technical data to reflect the true integration of social license and technological progress.

Last year, federal and provincial governments finally recognized the decades‑long, overlapping, and complex process of securing permits. One of the most promising developments of the past year is the commitment to fast‑track infrastructure through the Major Projects Office (MPO). The stated goal of cutting development timelines from a decade down to five years is exactly the kind of “nation‑building” urgency we need.

The goal is to provide a “predictable runway.” Whether in Ontario’s Ring of Fire or the lithium belts of Quebec, implementing effective processes early in land‑use decisions allows us to balance results‑driven development with conservation.

When we lead with science‑backed results, timelines become predictable, ensuring Canada remains a premier destination for global risk capital.

Protecting our assets

The surge in precious‑metal prices is fueling industry transactions, with major producers expanding their reserves and geographic footprint by acquiring junior mining companies. We expect further mergers and acquisition activity, with miners likely to swap properties as they build reserves and reshape portfolios to take advantage of market opportunities, minimize risks, or mitigate exposure to political instability.

The true value of our “rule of law” is best seen when contrasted with the rise of resource nationalism elsewhere.

In Mali, a prolonged standoff over a new mining code saw a massive Canadian‑owned complex briefly placed under state administration before a settlement was reached. This instability caused industrial gold output in the region to plunge. These types of geopolitical shocks are driving investors away from high‑risk regions and back toward the relative safety and transparency of the Canadian market, creating a Canadian premium.

In another example of resource nationalism, the United States has signalled an unmistakable intent to secure critical minerals through diplomatic and strategic actions—including buying direct stakes in key mining companies, forming a trading bloc with allies and partners, using tariffs to maintain minimum prices, and launching Project Vault, a US$12‑billion initiative aimed at securing critical minerals. What Canada’s role will be remains to be seen.

As countries seek to tighten their grip on critical minerals, it poses challenges for both mining companies and Canada. We are witnessing a back‑and‑forth between our need for massive capital investment and our desire for resource sovereignty.

The 2019 $10‑billion acquisition of Goldcorp by Colorado‑based Newmont remains a stark example of the loss of domestic ownership of some of Canada’s most critical assets. This deal followed a list of Canadian assets picked up by foreign firms—including Inco, Alcan, and Falconbridge—which has steadily eroded domestic control.

The federal government has responded with a protective, patriotic stance by modernizing the Investment Canada Act to put national security at the forefront of every transaction.

The message is clear: Canada is open for business, but we are no longer interested in being merely a ferry for the world’s superpowers. The government is requiring hard commitments to keep head offices on Canadian soil, but the question remains: Will companies hold fast to their commitments?

Equity and the future workforce

In 2026, a project’s social license is just as critical as its geology.

Where geology determines a deposit’s viability, social license acts as the definitive permit for trust and confidence. Lack of social license can devalue a project as legal delays and reputational risks are factored into the market. By prioritizing deep‑rooted social trust, Canadian operators are ensuring mining projects are not only rich geologically but also operationally secure for the long term.

A resilient industry requires a workforce that reflects the communities in which it operates. The focus has shifted toward meaningful equity. The industry is moving beyond traditional consultation into a new era of commercial partnership. We are increasingly seeing First Nations become equity stakeholders in critical infrastructure and resource projects of the future. Programs such as the Indigenous Participation Fund are ensuring that the benefits of the commodity boom translate into generational prosperity.

We must continue to support younger generations entering the business—from post‑secondary students to early‑career professionals—while pushing for long‑term policy security.

Canada’s edge has always been our deep engineering talent, rigorous disclosure standards, and mature finance ecosystem.

Our opportunity now is to protect that edge.

By focusing on results‑driven development alongside conservation, and ensuring that exploration success translates into long‑term benefits for communities, we aren’t just building mines; we are building the foundation of a resilient future.

The future is ours to lead, provided the sector and its partners move with the urgency this moment demands.