EU-Canada Mineral Investment Facility Project

In the context of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), the overall objective of the project is to create an EU-Canada strategic partnership across the non-energy extractive industry (NEEI) in order to foster investment and growth in both Canada and the EU.

The EU has faced two recent challenges with respect to securing the supply of critical raw materials, leading to a significant import dependency:

  1. Increased global competition for certain minerals and metals, and a lack of substitutes
  2. EU domestic NEEI sector is unable to meet demand within the EU

The EU is one of the world’s largest producers and net exporters of mining equipment, however European companies are facing increased competition from countries like China.

Canada has been identified as a strategic partner for the EU given its global expertise in mining.

Critical raw materials are essential for downstream European and Canadian industries.

The project therefore sits exactly in the centre of the objectives of the CETA, a productive and constructive relationship between partners and friends.

The Project will first conduct Baseline economic analysis of the level of integration and investment between the European and Canadian sectors leading to a Feasibility Study for an EU-Canada Mineral Investment Facility and the development of an operational network between Canada and the EU that will enable strategic partnerships across all parts of our value chain.

It is a process that is seeking, rather than imposing, conclusions and outcomes. Of course we all seek to promote mining investment, high standards of operational environmental and social performance conduct and sustainability. It is only by fostering co-operation that we can then promote the positive impacts of what we do. Networks, best practices, listening, learning and making the whole value chain better are all essential parts of this groundbreaking study.

Mark Rachovides
President of Euromines