https://www.cbc.ca/news/canada/sudbury/
Provincial and federal governments are investing money to attract electric vehicle battery plants
Junior mining exploration companies in northern Ontario are feeling a little left out of government funding aimed at growing electric vehicle battery production. The federal and provincial governments recently announced they are investing billions of dollars in subsidies to attract and build electric vehicle battery plants in Ontario.
Ottawa is giving the Volkswagen St. Thomas, Ont. plant up to $13 billion in subsidies over the next decade alone. That’s about three times more money than what is being spent on the federal critical mineral strategy, which commits to spending $3.8 billion over the next eight years.
“I think they need to look at it from both angles,” said Harry Barr, CEO of New Age Metals. “Our end of it is obviously more risky than maybe building a battery plant, but they’re going to have to help us a little bit more if they want an end product.”
New Age Metals owns palladium properties in Temiscaming, Ont. and has one of the largest undeveloped primary palladium projects in North America. Ontario has invested $35 million in its junior exploration program since 2021 to support companies like New Age Mining.
For the rest of this article: https://www.cbc.ca/news/canada/sudbury/subsidies-supply-chain-electric-vehicle-exploration-1.6851312