Mining of critical minerals is increasing, experts say. What does that mean for the Yukon and the climate?

Inside electric car batteries is nickel. The mineral, which is found in the Yukon, may not have the same value as gold on the markets. But in some ways, that does not matter — a worldwide rush for minerals like nickel is in swing, and there's no sign of that stopping as countries work to quickly pivot away from fossil fuels and decarbonize, according to experts. 

There could be a rub. Extracting what are known as critical minerals — key components found not only in batteries but windmill turbines and solar panels — could increase greenhouse gas emissions. 

"It's kind of a Catch-22," said Chelsea Hamilton, a mining engineer and financial advisor who was part of a panel on net zero mining hosted by the Yukon Chamber of Mines this week. "On the one hand, we want to protect our planet, the ecosystems for future generations and we want to create sustainability in our economy. On the other hand, we need more resources and we have to increase our mining activity substantially."

While too soon to tell whether there's more mining of critical minerals in the Yukon, there are signs that global shifts could affect that. 

"For the last few years, we've been seeing a massive shift in the investor base, so new capital is entering the market that is attracted to technological advancements," Hamilton added. "These investors want to support global decarbonization … and they understand that we need to produce critical minerals. 

"And these investors are now facilitating this massive change in the industry."

Carolyn Relf, the director of the Yukon Geological Survey, told CBC News the territory is seeing more exploration for critical minerals.

"It's largely commodity-price driven, but I think the prices are going to start responding to societal needs and society is driving the interest in green energy and so that shift is coming [to the Yukon]," Relf said. 

A report by the Yukon Geological Survey says that while the territory's contribution of critical minerals to the supply chain is modest, there are "significant" deposits, namely copper, nickel, tungsten and zinc. 

Of the 31 critical minerals listed by the federal government, only six have yet to be documented in the Yukon. They include aluminum, helium and potash. 

The Yukon government wants to reduce emissions by 45 per cent by 2030. Part of that work includes eventually setting intensity-based targets for mines.

The report from the geological society says the Yukon government's climate change plan, known as "Our Clean Future," lays the groundwork for a critical minerals strategy. 

The proposed Casino mine, west of Carmacks, would extract mostly gold but also copper, another critical metal. 

It's an off-grid project, which rules out tapping into hydroelectricity, a renewable energy source.