Evidence of meeting #3 for Natural Resources in the 45th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was project.
A video is available from Parliament.
Conservative
Jonathan Rowe Conservative Terra Nova—The Peninsulas, NL
I mean for iron ore or any other critical minerals that would require mass amounts of energy, such as natural gas, to produce.
General Manager, James Bay Joint Action Mining Committee
As I mentioned earlier, the concept of the national northern transportation corridor includes more than just a rail line. It also includes a pipeline.
Building a national pipeline to export natural gas overseas requires social acceptability. That means it's important to make people understand that such a project would be very beneficial for industrial development, because some of the gas going through the pipeline could be used for the metallurgical processing of lithium or iron, for example. To produce high-quality cast iron, large quantities of natural gas are needed. It's the same with titanium and vanadium.
The opportunity to export natural gas is also an opportunity for industrial development through metallurgical processing close to the resource in northern Canada.
Liberal
Conservative
Jonathan Rowe Conservative Terra Nova—The Peninsulas, NL
Do you think that if Bill C-69 was repealed it would increase mining investment in Canada and be able to increase the production of critical minerals?
September 25th, 2025 / 12:55 p.m.
General Manager, James Bay Joint Action Mining Committee
Are you talking about Bill 69 on major projects?
Let's hope that will be the case. That said, in the context of that bill, people aren't aware of everything that a pipeline can represent. It isn't just about exporting. It's important to also explain to the public what an opportunity this represents for northern and industrial development.
Liberal
The Chair Liberal Terry Duguid
Thank you.
Mr. Hogan is wrapping it up with two and a half minutes or less.
Liberal
Corey Hogan Liberal Calgary Confederation, AB
Thank you, Mr. Chair.
Thank you to our guests for being here.
I had a few questions on competitiveness, but my colleagues Mr. Martel and Mr. Guay have already asked questions about that.
You've identified challenges with current indigenous opportunity grants. What would your recommendations be to strengthen and foster stronger indigenous partnerships while meeting Canada's obligations, both moral and legal?
CEO and Managing Director, Vital Metals
I'm a finance person, so I have thought about this extensively. I really appreciate the question. Thank you very much.
I think that there's a way of structuring a vehicle that would allow for indigenous investment. The risk would be shared by the company that had the equity investment and by the indigenous loan guarantee program. In a way, it would basically be like a preferred share.
This is going to be way too much detail, probably.
CEO and Managing Director, Vital Metals
Oh, that's perfect.
There would be interest payments, let's call them, in the preferred share stage because a lot of the indigenous communities need to have periodic payments. The company would have to hold three years of rolling payments in escrow. After that, when the company was in a position to be able to pay out that same amount of interest payment, it would convert into a different class of ordinary equity that would pay out dividends first to those communities, equivalent to the interest payment. Then you've turned it into a lower-risk, pipeline-like investment. That, to my mind, is what I have been looking to do for a while.
Liberal
The Chair Liberal Terry Duguid
Colleagues, let me, on your behalf, thank our amazing witnesses today.
Bloc
Mario Simard Bloc Jonquière, QC
Mr. Chair, I want to point out that most of the witnesses had very busy schedules. They agreed to come at the last minute. I'd like to sincerely thank them for that.
Liberal
The Chair Liberal Terry Duguid
Thank you.
That's exactly the sentiment I was going to express on our behalf.
You are our very first witnesses of the new parliamentary session. You've started us off in a good way. Some themes have emerged: the great opportunity, the barriers and the infrastructure needs. This puts us in a very good mindset for the rest of the study that I'm very excited about, and I know my colleagues are.
Let's hear it for our witnesses.
Liberal
The Chair Liberal Terry Duguid
Colleagues, we're going to go in camera. We need a few minutes to do that, so I will suspend.
[Proceedings continue in camera]