The M&E Dispatch // 060

When caught between two giants fighting it's great to have options

Author

Lee Tengum
April 08, 2025

Hello Everyone,

Let’s not sugarcoat it: the U.S. just hit Canadian softwood lumber with a sledgehammer, jacking tariffs up from 14.54% to 34.45%. That’s not a trade tweak — that’s a wrecking ball aimed straight at the forestry backbone of British Columbia, and everyone knows it. Premier David Eby called it what it is: “an attack on forest workers and British Columbians.” He’s not wrong.

For those watching the broader trade chessboard, this isn’t just a Canadian problem. It’s a flashing neon sign that the U.S. is tightening its grip on every trade relationship it thinks it can strong-arm. Trump’s back on the tariff warpath with China, threatening 104% duties on nearly everything they ship in — phones, lithium batteries, computers, you name it. China’s response? “Fight to the end.” So now we’ve got both global superpowers staring each other down, and we’re the country standing quietly between them, rich in the stuff both sides need.

Here’s where mining and energy come in.

Canada sits on a treasure chest of critical minerals — cobalt, nickel, lithium, uranium — the same stuff the U.S. desperately needs to build EVs, power reactors, and run defence tech. And right now, the U.S. is burning its bridges with the two biggest sources of those materials: China and, increasingly, us.

That puts Canada in a rare spot: squeezed, yes — but also leveraged.

If we stop playing the middle child and start acting like the resource-rich, infrastructure-savvy partner we are, we can do more than just weather this. We can shape it. We’ve already got LNG projects in B.C. with Pacific-facing ports. We’ve got rail, road, and energy corridors pointing straight to Asian markets. And if the U.S. keeps hiking tariffs and pushing producers out, you can bet China’s going to start looking north with serious intent.

This isn’t about choosing sides. It’s about seeing the game for what it is. The U.S. is chasing “friendshoring” while punching its friends in the gut. China’s locking down long-term supply security any way it can. If Canada positions itself as the cost-effective, politically stable, and logistically viable access point to North America, we don’t just survive the next few years — we define them.

The latest lumber tariffs are a warning shot, but they’re also a window. If our leaders are paying attention, they’ll stop playing defence and start building partnerships — east and west — that protect our industries and make our resources indispensable.

Because one thing’s for sure, this trade war isn’t cooling off anytime soon. And when you’ve got a player running around taking cheap shots at your top line, you don’t whine to the ref — you take a number, wait for them to cross the blue line with their head down…

2 months in… sheesh.

// The Dirt

DLP Resources Reports Maiden 1 Billion Tonne Inferred Mineral Resource at Aurora
The Cranbrook-based company announces a major milestone from its Peruvian project with an inferred resource of 1 billion tonnes.
Read more →

Northisle Appoints Alexander Davidson to Board of Directors
The former Barrick Gold EVP and Canadian Mining Hall of Fame inductee brings serious pedigree to Northisle’s leadership.
Read more →

China Launches New Precision Strike Against Pentagon Rare Earth Supply Chains
NioCorp highlights tightening export restrictions from China and their direct impact on U.S. defense procurement.
Read more →

Sigma Lithium Achieves 1Q25 Production Target with 68,300t of Green Lithium
Production remains on track, and Sigma continues to push its low-emission “quintuple zero” lithium narrative.
Read more →

Senior Mining Executive Frederic Mercier-Langevin to Join Patriot Battery Metals
The new COO/CDO appointment brings deep operational experience to the company’s expanding lithium portfolio.
Read more →

DynaResource Reports Year-End 2024 Results Demonstrating a Return to Profitability
Dyna turns a corner at its San Jose de Gracia mine, posting a profitable Q4 after a tough stretch.
Read more →

FPX Nickel Announces Extension to Generative Exploration Alliance with JOGMEC
The international collaboration between FPX and Japan’s JOGMEC continues to hunt for nickel targets in Canada.
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Lomiko Metals Announces 2025 Warrant Re-Repricing and Incentive Program
Lomiko aims to increase investor participation by re-pricing outstanding warrants and offering incentive terms.
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Helius Minerals Receives Strong Investor Support on Non-Brokered Private Placement
Helius successfully raises capital without a broker, reflecting strong direct support from its investor base.
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Capacitor Metals Corp. Awarded €178,000 from Horizon Europe
Funding from the EU will support research and development initiatives across the company’s battery materials projects.
Read more →

The Prospector’s Return

Forever Places offers ash scattering in Canada’s historic goldfields, from the Klondike to the Cariboo. Real ground. Real stories. One last trip to the paydirt they never forgot.

We scatter ashes in the goldfields they walked, dug, and dreamed through. Real ground. Real history. The same rivers, ridges, and trails they spent a lifetime talking about.

Whether it was the Cariboo, the Klondike, or a forgotten creek near Kirkland Lake—this is a way to bring them back to the place they belonged.

It’s a simple, powerful way for families to honour a life built on grit, hope, and the belief that something good was always just beneath the surface.

I’m off to spend some time cleaning my yard and planting some trees, fruit trees that is. Have a great week all,

- Lee