19:35:13 EDT Sun 28 Apr 2024
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TMX Group Ltd
Symbol X
Shares Issued 276,919,815
Close 2024-03-07 C$ 34.51
Market Cap C$ 9,556,502,816
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Globe says TMX hears France keen for Canada's minerals

2024-03-08 08:10 ET - In the News

The Globe and Mail reports in its Friday edition that France is eyeing Canada as a key partner for the supply of critical minerals amid heightened concern about China's dominance producing and processing the raw materials needed for the clean energy transition. The Globe's Rita Trichur writes that it remains to be seen whether Western countries, including France, answer Canada's call for co-ordinated tariffs against China and Indonesia for distorting the global nickel market. Waging a trade war, however, will do little to further Canada's ambitions to become a major supplier of critical minerals, especially now that lower prices for some metals, including nickel, are spooking investors. France has already launched the first of four planned gigafactories that will make lithium-ion batteries for electric cars. President Emmanuel Macron aims to have two million electric vehicles made in France by 2030 and critical minerals are required to achieve that ambitious goal. Ms. Trichur says the Trudeau government should heed the advice of John McKenzie, chief executive officer of TMX Group, and expand the flow-through share program to encourage new investment and provide investors with clarity on climate-related disclosures.

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