Canada loaning millions to proposed Nunavik rare earth mining project linked to Trump White House (www.cbc.ca)

submitted 4 hours ago by HellsBelle@sh.itjust.works to c/canada@lemmy.ca

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Amid Prime Minister Mark Carney’s calls that the Canada-U.S. relationship is ruptured, Ottawa has committed $175 million to a mining project in northern Quebec whose major U.S. investor is closely linked to the Trump administration.

Energy and Natural Resources Minister Tim Hodgson says the Carney government’s support for the rare earth mine is necessary to protect Canadian jobs and the economy.

"We're doing things that are exceptional because we are in exceptional times," Hodgson told the fifth estate in an interview.

"I'll go back to what the prime minister said: We are in a hinge moment. We are in a rupture. We need to respond to that."

What makes the Strange Lake deposit so enticing to governments and private investors is the presence of heavy rare earth elements, most notably dysprosium and terbium, which are key to the magnets used in everything from electric vehicles to fighter jets and missiles.

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[-] mayabuttreeks@lemmy.ca 1 points 6 minutes ago* (last edited 4 minutes ago)

the large U.S. private equity firm Cerberus Capital Management invested $50 million US

Fascinated at how many Wall Street bros will just unironically give their companies names that are so blatantly villainous to anyone with an iota of cultural competency. Weyland-Yutani next?

[-] ZombieCyborgFromOuterSpace@piefed.ca 4 points 3 hours ago

to protect Canadian jobs and the economy

Yeah fucking right.

Natural resources should be nationalized. Letting U.S. corporations dig them all up and resell it to us at a bigger price doesn't help anyone.

And the fact this is a company that is closely tied with Trump makes this even more unacceptable.

I swear, Carney is a wolf in sheep's clothing. He acts and talks all calmly and gives us these nice sounding speeches so he can gain our confidence, then he turns around and does exactly what we tried to vote against by electing him in the first place.