A total of 388 new mines must be constructed by 2030 if countries around the globe, including Canada, hope to meet their timelines on mandating electric vehicles (EV), according to a new report.
Released by the Fraser Institute on Nov. 23, the report says the 388 new mines are essential to provide the metals required for EV production in Canada and the United States as well as a number of countries in the European Union and Asia.
Ottawa published draft regulations last December mandating all new passenger vehicles and light trucks be electric zero-emission vehicles by 2035. The plan is to phase in the rules starting with a 20 percent requirement in 2026 and up to at least 60 percent by 2030.
“The sheer scale of mining required to meet EV mandates raises serious questions about the timelines being imposed by governments,” said Kenneth Green, senior fellow at the Fraser Institute and author of the report, in a release.

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