Shippers who ply the St. Lawrence Seaway view vital minerals for electrical automobile batteries as key to their future — but it surely could possibly be some time earlier than the floodgates open on Canada’s largely untapped reserves.
Until then, grain and iron ore stay the staples, comprising almost half of the 36.3 million tonnes of cargo that handed via the seaway final yr.
Terence Bowles, who heads the seaway’s administration authority, says he expects one million extra tonnes of Canadian grain will float down the St. Lawrence River from Thunder Bay and different Ontario ports in 2023.
Chamber of Marine Commerce CEO Bruce Burrows says the struggle in Ukraine will doubtless prolong the spike in demand for that crop in addition to potash, whereas iron ore site visitors will decide up as automobile makers “get back on their feet.”
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Speaking on the opening ceremony for the seaway’s navigation yr Wednesday, Bowles stated Canada stays “in the early throes” of cobalt and lithium growth for electrical automobile batteries — minerals he sees taking part in an important function in establishing the seaway as a “green corridor.”
Less than every week earlier than the federal authorities unveils its newest finances and on the eve of U.S. President Joe Biden’s go to to Canada, the Chamber of Marine Commerce is looking on Ottawa to comply with America’s lead on main funding for transport infrastructure.
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