Timmins Square is not only the dominant retail shopping centre in the city of 41,000 people, but the only regional mall option for a wider catchment area of a population totaling over 118,000. Known for its rich mineral resources, the recent passage of the historic climate bill in the U.S. Congress, which includes a substantial sum of money for critical minerals, could further drive resource and economic development for mining in the region surrounding Timmins. The bill aims to develop new suppliers for critical minerals, including lithium, nickel, cobalt, graphite, and manganese, all essential components for electric vehicle batteries.  Additionally, the bill explicitly mentions Canada as a domestic source under the U.S. Defense Production Act, presenting potential co-operation opportunities on these critical minerals.  The Canadian government has recently budgeted $4 billion to develop the country’s critical minerals sector.

Source: CBC News

Author: Alexander Panetta

Published: August 16, 2022