Canadian aluminum producers, primarily from Quebec, are redirecting their exports to Europe. This shift is a direct result of the 25% tariff on aluminum imports reinstated by the US in March, and then doubled to 50% in June. The tariffs have made shipments to the US market significantly more expensive, prompting companies to seek more profitable alternatives.
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A new partnership between Torngat Metals and German magnet maker VAC aims to reduce reliance on Chinese rare earth supplies, bolstering the production of essential technologies for clean energy and defence. The non-binding deal focuses on securing long-term access to critical minerals from Torngat's Strange Lake project in northern Quebec.
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