Canada: Energy and Natural Resources

The Government of Canada has amended the Physical Activities Regulations, removing certain intraprovincial energy projects and facilities regulated by the Canada Energy Regulator from the federal Impact Assessment Act's Project List. This regulatory change eliminates automatic federal oversight for fossil fuel-fired power plants and specific oil sands facilities, while transferring assessment responsibilities for interprovincial pipelines and transmission lines to the Canada Energy Regulator, potentially re

On September 3, the Government of Canada published amendments removing seven types of energy projects from the Physical Activities Regulations (the Project List) under the Impact Assessment Act (IAA). As a result, these types of projects will no longer be subject to the IAA but will continue to be regulated by the Canada Energy Regulator Act (CER Act) or applicable provincial environmental assessment regimes.

Canada's mining sector is experiencing a wave of consolidation driven by strong commodity prices, competition for quality assets, and supply-chain security concerns. Despite increasing regulatory scrutiny and geopolitical risk, the market remains active with fewer but larger transactions, particularly in precious metals and critical minerals. Government policy and strategic considerations are increasingly shaping investment decisions as new resources become harder to find in lower-risk jurisdictions.