Government Aid Key to Building Domestic Supply Chain for Critical Metals, Says Xander Resources CEO

“At the end of the day, with the geopolitical issues going on in the world, we’ve got to have our own supply to make sure that we can meet our own needs,” said Xander Resources President and CEO Deepak Varshney.

The Canadian federal and provincial governments are acting swiftly to help create a critical metals supply chain in North America, explained Xander Resources (TSXV:XND,OTCQB:XNDRF,FWB:1XI) President and CEO Deepak Varshney.

He cited several incentives and initiatives that will help exploration projects, including the Ontario Focused Flow-Through Share Tax Credit for investing in junior explorers.

“I think the incentives are there to be working in the sector. And I think (the) government can keep working on it and keep supporting us, because at the end of the day, with the geopolitical issues going on in the world, we’ve got to have our own supply to make sure that we can meet our own needs, and that's where we're all going towards,” Varhsney said.

The company executive also emphasized the need for the government to help junior explorers overcome the challenges of permitting.

“They're really helping out with the funding side of things … but I think permitting is something where we're hoping they will help," he said. "Because at the end of the day, we have a lot of these projects that are getting close to development, but they're not there yet. They have different holdups. And so I think as you see governments step in and help these projects move towards real production, that'll be something of a big catalyst overall for the industry.”

Watch the full interview with Xander Resources President and CEO Deepak Varshney above.

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