Ontario boosts Critical Minerals Innovation Fund

The government of Ontario, Canada, said it is investing an additional $15 million over three years to expand the Critical Minerals Innovation Fund (CMIF), which supports local projects across the critical minerals supply chain.

The funding will strengthen Ontario’s mining industry by assisting with research, development, and commercialization of innovative technologies, processes and solutions. Since launching in November 2022, the CMIF has invested in 12 projects.

“This investment is another milestone for our government’s Critical Minerals Strategy and is about building a made-in-Ontario supply chain to meet the increasing global demand for critical minerals needed to manufacture technologies like batteries and electric vehicles,” said George Pirie, Minister of Mines. 

“We know investments like this drive innovation, help solve mining and supply chain challenges, enhance our province’s competitive advantage and leverages Ontario’s highly educated and experienced workforce.”

The CMIF is open to private-sector businesses or private-sector businesses collaborating with a public-sector academic or research institution/non-profit organization or association working in the critical mineral sector with a project in Ontario. It provides a maximum of 50% of eligible project costs, up to $500,000 per project.

Applications for the fund are being accepted from May 22 to July 17.

Source: Government of Ontario

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