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Canada's New $1.5 Billion Critical Mining Fund Set To Reignite Resources

November 21, 2023
x min read

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

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