Critical minerals sustain the technologies that define the modern world. The list of critical minerals is long, creating a myriad of opportunities for savvy investors.
In the United States (US), there are a total of 60 minerals that the United States Geological Survey (USGS) listed in its 2025 List of Critical Minerals.
“This is the most comprehensive, science-based assessment yet of the minerals our nation relies on,” said Ned Mamula, USGS director. “Critical minerals underpin industries worth trillions of dollars, and import dependence puts key sectors at risk. This work helps secure the materials needed for U.S. economic growth and technological leadership.”
Canada’s own Critical Minerals List identifies 34 minerals and metals. Both the US and Canada’s lists have been growing in recent years, with new minerals added, reflecting the increasing knowledge and research surrounding critical minerals.
At present, supply chains for these materials are heavily concentrated, with China occupying a dominant position, particularly in processing. According to the International Energy Agency’s (IEA) Global Critical Minerals Outlook 2025, China controls approximately 70% of the market for at least 19 critical minerals and close to 90% of global processing for cobalt, graphite, and rare earths such as lanthanides and yttrium.
“While the current critical minerals supply chain is concentrated in Asia Pacific, there are opportunities for growth and expansion across regions,” said Bill Peterson, head of Clean Tech and Metals & Mining Research at J.P. Morgan. “Diversification and expansion of supply chains will be crucial for fueling growth in industries that rely on critical minerals.”
Critical minerals required for Artificial Intelligence (AI) and Quantum are overwhelmingly sourced from a few countries, mainly China. With AI fast becoming the defining technology of our time, these critical minerals are even more important to a nation’s economic growth. A new UN Trade and Development (UNCTAD) report projects the global AI market will soar from $189 billion in 2023 to $4.8 trillion by 2033 – a 25-fold increase in just a decade.
For critical minerals, the value chain includes five segments as seen in the graphic below: geoscience and exploration, mineral extraction, intermediate processing, advanced manufacturing, and recycling.
At over USD 325 billion in 2024, the aggregate market value of key energy transition minerals aligns broadly with that of iron ore.
By developing the domestic value chain for critical minerals, North America stands to benefit from not just a national security standpoint, but also economically.
Detailed information on Power Metals critical minerals projects that include Cesium, Lithium and Tantalum located in Ontario, Canada, can be viewed on our Company’s Projects Page.