Episode Details

Developing critical mineral resiliency is absolutely critical, said Gary Stanley, founder and managing director of Global Mineral Strategies.

In early June Stanley spoke to Kitco Mining at THE Mining Investment Event of the North in Quebec City. He was joined by the CEO of  @firstphosphate , John Passalacqua. Stanley is also on the advisory board of First Phosphate. 

The shine has come off critical minerals compared to the start of the decade. Lithium prices traded up 10x before crashing. Electric vehicles are in a sales slump. Passalacqua said that volatility is expected. 

"Eventually all these materials are going to be needed," said Passalacqua. "There will be dips along the road. The trend is bullish."

First Phosphate (CSE: PHOS) is a mineral development company with plans to produce phosphate for the lithium iron phosphate (LFP) battery industry. First Phosphate holds over 1,500 sq. km of royalty-free district-scale land claims in the Saguenay–Lac-St-Jean Region of Quebec, Canada. First Phosphate properties consist of anorthosite igneous phosphate rock that generally yields high purity phosphate material. The company says that the rock is devoid of high concentrations of harmful elements.

Stanley was with the U.S. Department of Commerce before founding Global Mineral Strategies.  Stanley was lead author of the 2019 US Federal Critical Minerals Strategy. He said Western countries outside China need their own critical mineral supply chains. 

"It has to happen," said Stanley. "There has to be the kind of commitment necessary to make these supply chains not only stood up, but sustainable long term. There's going to be a premium that has to be paid for that because you're never going to be able to price compete against China. It's really incumbent upon countries like Canada and the United States to stay resilient in this process."

Coverage of the THE Mining Investment Event of the North is sponsored by EMX Royalty.

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.