I just take note that last year coal was Canada's top export to the following Indo-Pacific trading partners: Japan, India, the PRC, South Korea and Taiwan. That was our top export.
I want to move on to critical minerals, because the Indo-Pacific strategy mentions that Canada will be “a reliable supplier” of critical minerals to the Indo-Pacific region.
According to Benchmark Mineral Intelligence, a research firm, in order to meet the 2035 battery electric vehicle mandates, some 384 new critical mineral mines and plants are needed. According to the U.S. Geological Survey and the Government of Canada, Canada has about 2% to 3% of the world's critical minerals. Extrapolating from that, 3% of 384 is roughly a dozen new mines in Canada in order to meet the 2035 goals.
I don't see anything happening on debt capital markets, on equity capital markets or on the TSX. I don't see anything happening with mining companies here proposing new projects that would lead me to believe we're going to be building and approving 12 new mines here in this country as part of the 384 mines that are needed.
Can you tell us how we're going to meet that Indo-Pacific goal to be a reliable supplier of critical minerals to the region?