Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

KWG Resources Inc C.CACR

Alternate Symbol(s):  KWGBF | C.CACR.A

KWG Resources Inc. is a Canada-based exploration stage company. It is focused on acquisition of interests in, and the exploration, evaluation and development of deposits of minerals including chromite, base metals and strategic minerals. It is the owner of 100% of the Black Horse chromite project. It also holds other area interests, including a 100% interest in the Hornby claims, a 15% vested interest in the McFaulds copper/zinc project and a vested 30% interest in the Big Daddy chromite project. It has also acquired intellectual property interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. It also owns 100% of Canada Chrome Corporation, a business of KWG Resources Inc., (the Subsidiary), which staked mining claims between Aroland, Ontario (near Nakina) and the Ring of Fire. The Subsidiary has identified deposits of aggregate along the route and made an application for approximately 32 aggregate extraction permits.


CSE:CACR - Post by User

Post by TequilaRose44on May 15, 2024 1:30pm
222 Views
Post# 36041528

A good reason to get this show on the road

A good reason to get this show on the roadCanada wants to boost munitions lines with critical minerals expansion
Canada is seeking to increase its munitions stockpiles amid shortages highlighted by the war in Ukraine. But to bolster production, it first needs to expand its supply chain, particularly for the critical minerals ubiquitous in defense equipment and consumer electronics alike.
To do this, Ottawa hopes to tap further into its vast critical minerals reserves, lessening its reliance on China which dominates much of the global supply chain.
“We have an increasing dependence on Chinese critical minerals,” Canadian Defense Minister Bill Blair told Defense News Monday at a Defense Writers Group event in Washington. “Certainly in my country, we have actually a lot of those assets in the ground. But we have to extract them and we have to process them,”
“Canada can be helpful to our allies by actually creating a viable source of some of those critical minerals,” he said. “And if we work very closely with our allies we can secure broadly what we all will need in the future and we won’t be potentially disadvantaged by an adversary.”
Blair raised Canada’s efforts to become a critical minerals wellspring for NATO during a meeting with U.S. Defense Secretary Lloyd Austin on Monday.
“It’s particularly acute, in my opinion, in the defense industry,” Blair told Defense News. “We rely on aluminum and titanium for the planes we’re building and put in the air. Tungsten is an essential mineral for the production of munitions because of its hardness. Cobalt, rare earth minerals, all of the very technical systems that we are developing have a disproportionate reliance on minerals which are not entirely at this present time secure and under our control.”
The Minerals Security Partnership, a recently established consortium that includes Canada, the U.S. and other NATO-aligned countries met in Toronto in March.
Canada released a critical minerals strategy in December. It identifies 31 minerals Canada deems critical, including several crucial to the munitions supply chain like antimony, aluminum, copper and magnesium.
It comes as Canada seeks to bolster its munitions stocks, which Blair called “woefully inadequate.”
For instance, he noted Canada only has two facilities making 155mm artillery rounds, which are seeking to expand production and supply chains.
The shortages have also limited Canada’s ability support Ukraine against Russia’s invasion. Ottawa has committed roughly $14 billion in aid to Ukraine so far, according to Blair.
“Our responsibilities to continue to support Ukraine really requires that we build up domestic capacity,” said Blair.
The effort to expand munitions lines and supply chains comes as Canada seeks to increase its defense budget, in large part through additional equipment purchases.
The defense spending increase will increase Canada’s military funding from 1.3% of GDP to 1.76% of GDP. However, that still falls short of the 2% of GDP benchmark for defense spending that NATO allies have set.
Blair said that major defense purchases that have not yet been fully funded, including a replacement for Canada’s aging submarine fleet and an integrated air and missile defense systems, would bring Canada closer to the 2% of GDP benchmark.
He noted that Canada has discussed modernizing its underwater surveillance capabilities with allies, including the U.S. and Germany.
“There are a number of options available to us,” said Blair. “But we’ve got some work to do in both determining what are requirements are, what choices are available on the market, and we’re beginning those processes right away.
“And once we’ve done that work, I’ll be in a much stronger position to go back to our government and say ‘We have a very clear path to this new capability acquisition’ and then seek the funding for it.”
Ottawa and Washington are also working together to modernize NORAD, with Blair noting that at least one over-the-horizon radar will be based in Canada.
“We’ve made commitments on getting that delivered,” said Blair. “An integrated, fully communicative systems requires consensus requires consensus and agreement on what we’re going to build and where we’ll build it.”

<< Previous
Bullboard Posts
Next >>