Overview

• Canadian and German ministers are set to sign a memorandum of understanding in Berlin, with Ottawa publishing a Joint Declaration of Intent outlining the plan.
• The declaration sets five goals that prioritize processing, refining and recycling, expand trade cooperation, mobilize public investment, align with international initiatives and promote commercial and research ties.
• Targeted materials include rare earth elements, lithium, copper, tungsten, gallium, germanium and nickel.
• Planned tools include blended financing using Germany’s Raw Materials Fund managed by KfW, Canada’s Clean Growth and Strategic Innovation Funds and export finance instruments.
• Governance calls for a bilateral task force led by the two ministries, the arrangement is nonbinding, and leaders framed the effort as diversification after recent Chinese export curbs on rare earths.