Ontario providing up to $500K for projects that develop critical minerals supply chain

Ontario set to boost critical mineral innovation with $4M in funding for homegrown tech for new mines, while upgrading highways & leveraging resources.

The province has announced up to $4 million in funding for projects that help develop Ontario’s critical mineral supply chain.

Individual companies that meet certain criteria can apply for up to $500,000 from the $4 million, which is being provided through the Critical Minerals Innovation Fund.

“As global demand for critical minerals continues to rise, the Ontario government is investing to accelerate the development and delivery of homegrown technologies that will unlock new mineral deposits, strengthen mining and processing capabilities and build a fully integrated, made-in-Ontario critical minerals supply chain,” the government said in a news release June 30.

The fund will support projects in the following areas:

• Build a home-grown battery supply chain: to support global electric vehicle markets, energy storage, and other advanced technologies.
• Deep exploration and mining: helping companies access mineral resources deeper below the Earth’s surface than previously explored.
• Recovery of minerals: by using advanced technologies to retrieve minerals from tailings produced at mine sites.
• Mining innovation: accelerating projects that create innovations in the critical minerals sector.

“Critical minerals are driving new jobs, investment and economic growth as the world turns to Ontario as its reliable partner,” Stephen Lecce, Minister of Energy and Mines, said in the release.

‘Most ethical resources on Earth’

“Our province has world-class mineral deposits, workforce and a new permit system that has transformed Ontario into Canada’s top jurisdiction for mining investment … At a time when countries around the world are competing for secure and reliable sources of critical minerals, Ontario is moving with speed to unlock the most ethical resources on Earth.”

Ontario now ranks first in Canada and second globally for mining investment attractiveness, the province said.

“Combined with accelerating construction of the roads to the Ring of Fire five years ahead of schedule, Ontario is unlocking generational economic opportunity, attracting investment, creating jobs and building a secure, made-in-Canada supply chain for the critical minerals the world needs,” the release said.

The province has spent more than $25 million since 2022 on 47 projects that aim to transform “Ontario’s mining and minerals sector at all levels, from extraction to processing and advanced manufacturing.”

Applications for funding will be accepted from June 30 to Aug. 25 and can be submitted through Transfer Payment Ontario.

Ontario’s mining sector contributes around $14.4 billion to Ontario’s GDP annually and supports around 150,000 direct and indirect jobs.

There are currently 37 active mining operations in Ontario, with the majority located in northern Ontario. Of these operations, eight are base metal (nickel, copper, zinc) mines.

“Ontario’s critical minerals supply chain plays an integral role in fueling the resilience and competitiveness of our battery manufacturing, defence and technology sectors,” Economic Development Minister Vic Fedeli said in the release.

“Through the Critical Minerals Innovation Fund, our government is helping local companies research, develop and commercialize their breakthrough technologies, further ensuring that Ontario workers stand to benefit from emerging opportunities and investment at all stages of the supply chain.”