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Boosting Canadian Critical Mineral Development: Additional Funding Announced

Boosting Canadian Critical Mineral Development: Additional Funding Announced
Canadian Critical Mineral Development

Canada's Minister Jonathan Wilkinson, announced over CAD 344 million in additional funding for Canadian Critical Minerals Development on March 7 at the PDAC convention. This investment aims to accelerate activity in the critical minerals sector, supporting clean technology, job creation, and economic growth while aligning with Canada's net-zero future.

Minister Wilkinson highlighted the significance of critical minerals beyond clean technology, emphasizing their role in creating good, middle-class jobs and fostering a globally competitive economy. The CAD 344 million investment will advance the development of a dynamic and competitive critical minerals sector, leading to job opportunities, increased investment in Canadian innovation, and reduced emissions nationwide.

The Canadian government's commitment to critical minerals development is part of the larger Canadian Critical Minerals Strategy, backed by up to CAD 3.8 billion in federal funding. The additional CAD 344 million in funding will support programs such as the Critical Minerals Technology and Innovation Program (CAD 144.4 million), Critical Minerals Geoscience and Data Initiative (CAD 79.2 million), and the Global Partnership Program. Detailed program information, including a call for proposals, will be announced in the coming months.

To capitalize on the economic opportunity presented by critical minerals, Minister Wilkinson also announced the approval of six projects under the Critical Minerals Research, Development, and Demonstration (CMRDD) program. These projects, with a total investment of over CAD 14 million, will validate processing technologies through pilot demonstrations. The outcomes aim to improve the cost-effectiveness of critical mineral production, introduce novel processes, and enhance environmental performance, including energy efficiency and reduced carbon emissions.

The CAD 14 million investment represents the initial wave of the Government of Canada's commitment to research, development, and demonstration, totalling close to CAD 200 million. The government will continue collaborating with partners to position Canada as the preferred global supplier of clean energy in a net-zero world, ensuring a prosperous and sustainable future for all Canadians from coast to coast.

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