Canada Could Gain Billions from Refining More Metals

Canada's economy could receive a significant boost from refining more metals and critical minerals within the country, according to Export Development Canada (EDC). The agency estimates that a sustained shift towards more sophisticated exports could add up to C$98 billion ($70 billion) per year to the country's economy by 2035.

This would involve building more processing capacity at home, rather than relying on foreign countries for refining and manufacturing. EDC points out that Canadian companies often leave significant profits on the table by exporting raw commodities rather than more complex, processed products.

The report highlights the potential for value creation in rare earths, graphite, lithium, copper, and uranium, which could be refined into specialized products such as nuclear fuel, reactor components, and equipment for power grids and artificial intelligence infrastructure.