Canada's Critical Minerals Investment and Strategy Expansion
Canada's federal government is investing over 3.6 billion CAD to accelerate critical minerals mining and processing. New funds, including the 1.5 billion CAD First and Last Mile Fund, aim to enhance infrastructure and energy solutions, supporting the transition to a low-carbon economy.
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The Canadian federal government has announced investments exceeding 3.6 billion CAD to enhance mining projects and related infrastructure for critical minerals. This initiative builds on the 2022 Critical Minerals Strategy, aiming to boost domestic extraction, processing, and recycling while integrating into North American supply chains.
The new First and Last Mile Fund will provide 1.5 billion CAD specifically for critical minerals projects. Additionally, the Critical Minerals Sovereign Fund is set to offer 2 billion CAD over five years for strategic investments, marking a novel approach in Canada's mineral strategy.
At the PDAC conference, which drew 32,000 attendees, Canada showcased its strategy to strengthen the mining sector and establish a comprehensive value chain for critical minerals. Partnerships with the EU and investments from the European Investment Bank highlight ongoing international collaboration.
Emphasis on diversifying supply chains is evident, with initiatives like the Critical Minerals Production Alliance aiming to unlock over 12 billion CAD in projects. This focus on sustainable and low-carbon solutions positions Canada as a key player in the global critical minerals landscape.
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