- EIB and Canada signed a non-binding Letter of Intent at PDAC 2026.
- The agreement aligns with the EU-Canada Strategic Partnership on Raw Materials.
- The initiative supports secure supply chains for Europe's green and digital transitions.
- The framework would allow EIB to support projects across the critical raw materials value chain.
Introduction
The European Investment Bank (EIB) and the Government of Canada have signed a non-binding Letter of Intent to enhance cooperation on critical raw materials. This agreement was formalized at the PDAC 2026 conference in Toronto.
Strategic Partnership
The Letter of Intent builds on the EU–Canada Strategic Partnership on Raw Materials, reflecting renewed momentum in cooperation on climate action, energy security, and economic resilience. It aligns with the EU-Canada Joint Statement on Critical Minerals, emphasizing the importance of secure and sustainable supply chains.
Canada's Role
Canada, a leading producer of critical minerals, is recognized for its large reserves, mining expertise, and strong environmental standards. This makes it a key partner for the EU in diversifying and securing raw materials supply chains, reducing strategic dependencies, and enhancing economic security.
Future Cooperation
The agreement allows the EIB and Canada to discuss institutional arrangements for EIB operations in Canada, supporting projects across the critical raw materials value chain. This initiative aims to ensure reliable and competitively priced technologies for manufacturers and households in both regions.
