Investments in the Mining Sector

The Canadian provinces of Ontario and Saskatchewan are channeling substantial funds into their mining sectors to strengthen critical mineral infrastructure and cultivate the next generation of miners.

In its 2024 budget, Ontario announced plans to inject 15 million Canadian dollars into the Critical Minerals Innovation Fund (CMIF) to promote research and development in the critical minerals sector. The investment will be spread over three years and will help boost research, development and commercialization of innovative technologies

The CMIF, launched at the end of 2022, offers funding of up to 50 percent of eligible project costs, with a ceiling of 500,000 Canadian dollars per project. The fund targets sectors vital to national defense, emerging technologies and a future with low environmental impact

Pioneering Projects and Infrastructure Investments in Ontario

Several companies, including Carbonix, Canada Nickel Company, and the Canadian division of Vale and Wyloo Metals, have already received substantial funding under the CMIF for their pioneering projects aimed at boosting the extraction and processing of critical minerals.

The budget highlights that Ontario has already allocated 1 billion Canadian dollars to strengthen inherited critical infrastructure, focusing on all-season roads, broadband connectivity and community support systems in the Ring of Fire region.

The province is also committed to supporting various infrastructure projects, such as the Marten Falls Community Access Road Project and the Webequie Supply Road Project, in collaboration with indigenous partners.

Saskatchewan: Investments in the Next Generation of Miners

Saskatchewan, a major producer of potassium and uranium, is also focusing on its mining sector through an investment of 100,000 Canadian dollars to promote careers in the mining and exploration industries.

The initiative, presented on March 27 in collaboration with the Saskatchewan Mining Association (SMA), aims to provide students with a deeper understanding of the diverse career opportunities available in the province’s mining sector.

In 2023, SMA’s educational outreach program provided a wide range of lesson plans and teaching modules to more than 7,800 students, 880 community members, and 460 teachers in 90 Saskatchewan communities.

“Saskatchewan is one of the world’s most attractive mining jurisdictions,” said Minister of Immigration and Professional Training Jeremy Harrison. “As our presence in the global mining industry continues to grow, it’s important that we build the workforce necessary to support this growth. These funds will provide educational opportunities for students to learn careers in the mining sector and allow them to benefit from the jobs that our rapidly growing economy
is creating.”

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