Canada to invest $10M in critical minerals mining

Canada’s Minister of Energy and Natural Resources has announced two investments of C$5 million each to the Mining Innovation Rehabilitation and Applied Research Corp (MIRARCO) and Electra Battery Materials to support the country’s critical minerals sector.

“Today’s total investment of $10 million to Electra and MIRARCO will help to advance the development of dynamic and competitive critical minerals value chains in Canada and Northern Ontario,” said Jonathan Wilkinson, Minister of Energy and Natural Resources.  

“This funding will increase mineral and energy security, create good jobs and support economic opportunities – supporting our work to build a cleaner Canada and a prosperous, sustainable economy that works for everyone.” 

The MIRARCO project aims to advance technological readiness of the recovery of battery metals from mine tailings at Vale and Glencore mines in the greater Sudbury area, while reducing the long-term social and environmental costs associated with mine waste. Meanwhile, Electra is constructing North America’s only battery grade cobalt finery as part of a multiphase effort to build the continent’s supply chain for battery materials. 

Funding for the projects comes from the Critical Minerals Research Development and Demonstration program.

Separately, Wilkinson said that high-purity iron, phosphorus and silicon metal have been recently added to Canada’s critical minerals list, bringing the total to 34. By expanding the list, the country aims to bolster its position in the global market. 

Sources: Government of Canada  

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