The mining space in Canada has long been a source of prosperity and wealth creation. But it hasn’t been without peaks and valleys. Now, Canada wants to reignite resources and critical minerals for good.
What’s happening:
- The Canadian government has launched a $1.5 billion CAD Critical Minerals Infrastructure Fund to accelerate mining operations and the supply of critical minerals within Canada
- The new funding will be focused on helping unlock critical minerals located in Canada that are essential to the energy transition and clean technologies
Why it matters:
- Critical minerals are necessary component for everything from electric vehicles to clean energy sources to new infrastructure
- The Canadian government injecting new capital into companies mining for critical minerals will provide a hugely impactful source of non dilutive funding to expand operations and build new mines
- This new fund likely brings Canada significantly closer to being a world leader in supplying responsibly and ethically sourced critical minerals to help accelerate the global energy transition
By the numbers:
- The Critical Minerals Infrastructure Fund will provide up to $300M CAD in capital for pre construction projects and project development streaming deals, as well as for infrastructure deployment
Going deeper:
- Some of the funding being provided by the Critical Minerals Infrastructure Fund will go towards helping decarbonizing mining operations throughout Canada in an effort to lower emissions
