- A critical mineral is one that a government has identified as economically essential and at risk of supply disruption.
- Canada, the United States, and the European Union each maintain their own critical mineral lists.
- Lists are updated periodically and reflect both technological demand shifts and geopolitical supply concentration.
What is a critical mineral?
A critical mineral is a mineral that a government has formally identified as essential to economic or national security and at meaningful risk of supply disruption. The label is policy, not science: which minerals are critical depends on how each government balances demand, supply concentration, and substitutability.
Canada’s list
Natural Resources Canada publishes Canada’s Critical Minerals Strategy and the associated list. It includes lithium, cobalt, graphite, nickel, copper, rare earth elements, uranium, zinc, and others. The list shapes federal funding programs and trade policy.
The United States list
The US Geological Survey publishes a list of critical minerals, and the US Department of Energy publishes a separate list of critical materials. Both are updated periodically. Common entries include lithium, cobalt, graphite, rare earth elements, nickel, copper (on the DOE list), and several less-familiar minerals such as gallium and germanium.
The European Union list
The European Commission publishes a Strategic Raw Materials list and a Critical Raw Materials list. The methodology emphasizes supply concentration (especially imports from a single jurisdiction) and economic importance to EU industry. Lists are updated approximately every three years.
Why the lists matter to investors
Critical mineral status influences which projects qualify for government grants, loan guarantees, and trade incentives. It can also affect permitting timelines, royalty regimes, and offtake interest. Knowing which lists a company’s commodity is on helps frame the political tailwinds (or lack of them) around the project.
Definitions and lists are drawn from Natural Resources Canada, the US Geological Survey, the US Department of Energy, and the European Commission. Lists update periodically.
Frequently asked questions
Definitions and lists are drawn from Natural Resources Canada, the US Geological Survey, the US Department of Energy, and the European Commission. Lists update periodically.
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