Ontario calls on Ottawa to match $1-billion for Ring of Fire critical minerals in federal budget – by Laura Stone and Jeff Gray (Globe and Mail – March 25, 2023)


Ontario’s Finance Minister is calling on Ottawa to match $1-billion in investment in the Ring of Fire critical minerals sector in next week’s federal budget, urging Canada to send a message to visiting U.S. President Joe Biden that the province is a welcome place to invest in the mining industry.

Finance Minister Peter Bethlenfalvy, who released his $204.7-billion budget Thursday, said Ontario is looking to further collaborate with the federal government to develop the country’s critical minerals sector and promote it abroad.

He asked federal Finance Minister Chrystia Freeland to match the province’s nearly $1-billion commitment to the Ring of Fire district in the province’s far north. That money, his government says, is being used to build all-season roads, broadband connectivity and provide “community support.”

“We put in a billion dollars of capital. We want not only the federal government to match that – but not just the dollars. Work with us on actually getting the permitting, the approvals and sending a message to President Biden and the rest of the world that Canada and Ontario in particular is a great place to invest capital,” Mr. Bethlenfalvy said at a postbudget announcement in Toronto on Friday.

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