Canada Invests in Critical Minerals Sector at the Organisation for Economic Co-operation and Development Conference on Mining in Sudbury
News release
October 9, 2024 Sudbury, Ontario Natural Resources Canada
Critical minerals are not just the building blocks of clean technology like solar panels and electric vehicle batteries — they are a key ingredient for creating middle-class jobs and growing a strong, globally competitive Canadian economy. As demand for critical minerals around the world continues to surge with the increased adoption of clean technologies, Canadian workers and businesses have a generational opportunity to be global leaders and suppliers of critical minerals.
Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced over $5.1 million in funding for 16 projects in the critical minerals sector, as part of the Canadian Critical Minerals Strategy (CCMS), to position Canada as the reliable supplier of choice the world is looking for. This funding is provided through two key programs to increase the supply of responsibly sourced critical minerals and support the development of domestic and global value chains for the green and digital economy. This investment includes:
- Critical Minerals Geoscience Data Initiative (CMGD): over $4.1 million is provided to support 10 projects to enhance access to important data and generate new insights on the geological potential of critical mineral sources.
- Global Partnerships Initiative (GPI): close to $1 million is provided to support six projects that will reinforce Canada’s growing number of bilateral commitments and engagements in the critical minerals space.
Across Canada, clean energy solutions are providing enormous economic opportunity. The critical minerals sector is already highly valuable to the Canadian economy. In 2022, the minerals and metals sector directly employed 420,000 people and contributed $109 billion to Canada’s total gross domestic product (GDP). Since 2020, automotive and battery manufacturers have announced investments of over $40 billion in electric vehicle production and the battery supply chain. With government support and demand for critical minerals expected to double by 2024, these sectors will only grow. Today’s investments will help deliver jobs and economic opportunities for communities and businesses across the country.
Quotes
“Critical minerals are a generational economic opportunity for Canada. From exploration and extraction to advanced manufacturing to processing and recycling, we are making investments across the value chain. This second call for proposals will support Canadian innovators to drive economic growth and job creation in communities right across Canada.”
The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources
Quick facts
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Budget 2022 provided $3.8 billion over eight years to implement the Canadian Critical Minerals Strategy. The funding covers a range of industrial activities, from geoscience and exploration to mineral processing, manufacturing and recycling applications.
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The Canadian Critical Minerals Strategy is part of Canada’s strengthened climate plan, 2030 Emissions Reduction Plan: Clean Air, Strong Economy, which advances Canada’s goals of reducing greenhouse gas emissions by 40 to 45 percent below 2005 levels by 2030 and reaching net-zero emissions by 2050.
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Funding for these projects comes from the $79.2 million in Budget 2021 allocated to the CMGD initiative to enhance the quality and availability of data and digital technologies to accelerate the responsible development of Canadian critical minerals resources and the $70 million allocated for the GPI in Budget 2022 to advance Canada’s global leadership on critical minerals under Canada’s Critical Minerals Strategy.
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The CMGD initiative includes $10 million in contribution funding for the provinces and territories to enhance access to important data and generate new insights on the geological potential of critical mineral sources. By harnessing the power of geoscience and data, we will pave the way for the responsible growth of industries that rely on these minerals, from technology and energy to defence and infrastructure.
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Through multilateral engagements, Canada is pursuing collective action on critical minerals to support the global transition to green energy and more-resilient supply chains. Canada currently produces 60 minerals and metals at 200 mines and 6,500 sand, gravel and stone quarries across the country.
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Canada is home to almost half of the world’s publicly listed mining and mineral exploration companies, with a presence in more than 100 countries and a combined market capitalization of $520 billion.
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Associated links
- Canadian Critical Minerals Strategy
- Canada’s strengthened climate plan, 2030 Emissions Reduction Plan: Clean Air, Strong Economy •
- Minister Wilkinson Releases Canada’s $3.8-billion Critical Minerals Strategy to Seize Generational Opportunity for Clean, Inclusive Growth
- Programs and funding for critical minerals projects
- Strategic Innovation Fund
- Critical Minerals Geoscience and Data Initiative
- Critical Minerals Research, Development and Demonstration Program
- A healthy environment and a healthy economy
Contacts
Natural Resources Canada
Media Relations
343-292-6100
media@nrcan-rncan.gc.ca
Cindy Caturao
Press Secretary
Office of the Minister of Energy and Natural Resources
613-795-5638
cindy.caturao@nrcan-rncan.gc.ca
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