Why Canada Must Develop Vital Mineral Production

Source: Bob Moriarty  (10/10/23)

Bob Moriarty of 321Gold shares that as conflict rises globally, Canada must develop its rare earth element resources like Defense Metals’ Wicheeda project to secure critical mineral supply chains.

Defense plans to produce 20-25 million tonnes of rare earth oxides — potentially 10% of global output. With no current rare earth production in North America, projects like Wicheeda are critical for economic security. Despite discussing assistance for juniors advancing these deposits, the U.S. and Canada must move swiftly from talk to action.

Defense Metals is an advertiser, and I own shares, making me admittedly biased. However, their corporate presentation is excellent reading for any investors interested in the vital rare earths sector. Due diligence is always essential. The global rare earth supply chain is a coming battleground, and Canada must develop projects like Wicheeda to secure its economic future.

The conflict in Ukraine underscores how vital it is to control supply chains for key technological minerals. China currently dominates rare earth production at nearly 90% of global output. By failing to develop its own domestic rare earth projects, Canada leaves itself vulnerable to supply disruptions during times of conflict.

Companies like Defense Metals offer a path to Canadian rare earth production and independence. Its Wicheeda project has major resource expansion potential and advanced infrastructure. With pre-feasibility studies underway, Wicheeda could be operational within a few years to secure domestic rare earth supply.

Projects like Wicheeda are thus strategic national assets that Canada must leverage. The world is entering an era of resource nationalism surrounding minerals like rare earths. By exercising foresight and enabling domestic production, Canada can guarantee its own technological security and prosperity.

The stakes are clear — as geopolitical tensions rise, rare earths and lithium will be 21st-century economic weapons. Vision is required to invest decisively in vital mineral supply chains. The window of opportunity is closing fast. Canada must act now to develop its resource base and avoid potential supply shocks or conflicts.

Overall, the coming rare earth war makes projects like Wicheeda national security priorities. Canada’s economic future depends on establishing domestic rare earth production. The time for talk is over — concrete action is required to guarantee mineral security and technological leadership. Companies like Defense Metals offer a clear pathway forward if Canada has the courage to seize it.

Important Disclosures:

1. Defense Metals Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Defense Metals Corp.
3. Bob Moriarty: I, or members of my immediate household or family, own securities of: Defense Metals Corp. My company has a financial relationship with: Defense Metals Corp. I determined which companies would be included in this article based on my research and understanding of the sector.
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