Canada Critical Minerals Investment Initiative

planned

Canada announced a C$1.4 billion ($1 billion) investment package to secure critical mineral supplies and reduce dependence on China. The initiative supports mining and processing projects across Canada, benefiting companies like Rio Tinto Group, Nouveau Monde Graphite Inc., Ucore Rare Metals Inc., Northern Graphite Corp., Focus Graphite Inc., and Torngat Metals Ltd. It includes funding for projects such as Rio Tinto's scandium facility in Quebec and Ucore Rare Metals' rare earth processing plant in Ontario. The initiative also designates critical minerals as essential to Canada's defense and national security, enabling stockpiling and multilateral caching with NATO allies.