Critical thinking for critical minerals: Why due diligence matters more than ever

The push to decarbonize, as well as geopolitical events, have turned once-overlooked niche metals markets into essentials. Lithium, nickel, cobalt, copper, and rare earth elements sit at the centre of everything from electric vehicles (EVs) to wind turbines and seem to regularly be the focus of senior diplomatic missions and government announcements. According to the International Energy Agency (IEA), demand for these minerals could double or even quadruple by 2040, depending on the pace of the energy transition. Even gold prices, for completely other economic reasons, has drastically changed the landscape for projects.

This market activity is driving investment. Many private equity companies that once ignored mining have mandates to get exposure to critical minerals projects. In 2024, global mining M&A activity hit $121 billion, with critical minerals making up a growing share.

Interested in learning more? In Canadian Mining Magazine, Michael Stine highlights the importance of due diligence for critical minerals and metals projects.