INDUSTRY BULLETIN: Ontario Government Encourages Mining Innovation and new Cleantech Supply Chains
The Ontario Government has committed to making the province a leader in clean technology by pursuing numerous initiatives focused on shifting towards a low carbon economy via the Climate Change Strategy.
One key component of this strategy is the Ontario Government’s commitment to reducing greenhouse gas emissions to 80% below 1990 levels (by 2050) by encouraging a shift to low- and zero-emission vehicles. The Government has also committed to making Ontario one of the easiest and most affordable jurisdictions in North America for homeowners and businesses to install or retrofit clean-energy systems. Both of these energy efficiency initiatives are being enabled largely by rapid advances in energy storage technology, mainly the lithium ion battery.
The Ontario Government also recognizes that the critical materials needed for lithium ion battery technology - notably lithium, cobalt and graphite - can all be found in Northern Ontario, providing an opportunity to create the full lithium ion battery supply chain in Ontario. By bringing various participants and entrepreneurs in this emerging supply chain together to exchange ideas, the Province can facilitate relationships leading to an acceleration of new business start-ups in the sector.
A recent successful example of such an initiative was the Mining Innovation Summit 2016, hosted by Ontario’s Ministry of Northern Development and Mines in Sudbury and attended by Avalon‘s VP, Sustainability, Mark Wiseman. The summit brought together thought leaders from the mineral industry, government, academia, indigenous communities and research organizations to share ideas on innovation in the sector and build on Ontario’s reputation as one of the world’s most progressive mining jurisdictions. Sudbury is now home to the Centre of Excellence for Mining Innovation among other leading mining research programs on the campus of Laurentian University.
In his address to the attendees, Minister Michael Gravelle spoke of Ontario supporting research and development that will increase the mining sector's innovation and competitiveness in the global market. This included focusing on new materials, such as lithium, that can help enable and leverage other business opportunities in clean energy technology for Ontario.
Considering the lithium-ion battery accounts for 83% of newly announced energy storage system capacity and that this battery market is projected to reach $77.42bn USD by 2024, it is timely for Ontario to capitalize on this emerging business opportunity and aggressively pursue the significant economic and environmental benefits of being an early mover in building these new supply chains.
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About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. (TSX: AVL & OTCQX: AVLNF), formerly Avalon Rare Metals Inc., is a Canadian mineral development company specializing in niche market metals and minerals which are in growing demand in new technology. The Company has three advanced stage projects, all 100%-owned, providing investors with exposure to lithium, tin and indium, as well as rare earth elements, tantalum, niobium, and zirconium. Avalon is currently focusing on its Separation Rapids Lithium Project, Kenora, ON and its East Kemptville Tin-Indium Project, Yarmouth, NS. Social responsibility and environmental stewardship are corporate cornerstones.