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Canada’s mine permitting timeline risks critical minerals investment
A PwC Canada analysis cited by Mining.com says Canada takes about 20 years to permit and build mines versus 14 years in Australia, with policy and permitting complexity cited as a key source of investor uncertainty.
Canada’s long mine development timeline could put billions of dollars of potential critical minerals investment at risk as competing countries move projects into production faster, according to a PwC report highlighted by Mining.com.
The study, citing S&P Global Market Intelligence data, says Canada typically takes about 20 years to permit and build a mine compared with 14 years in Australia. It argues geology is no longer sufficient by itself, with outcomes increasingly shaped by policy, permitting timelines, access to capital, and processing infrastructure.
PwC Canada also points to challenges beyond permitting, including infrastructure constraints and the time required to secure what it describes as social licence. PwC Canada national mining leader Monica Banting said the complexity of federal and provincial assessments, permitting requirements, and community engagement creates uncertainty around project schedules and costs, making it harder for investors to commit capital.
The report also links investment risk to financing conditions in Canada’s relatively high cost operating environment and to the time needed to secure social licence alongside regulatory approvals. It notes Canada is pursuing reforms through initiatives such as its Critical Minerals Strategy and investment funds, and it cites more than $11.6 billion in estimated capital investment across five nationally designated mining projects via the Major Projects Office.