Critical minerals processing, manufacture, recycling to be focus of $1.5 billion in federal innovation funding – by Mehanaz Yakub (Electric Autonomy – July 19, 2023)

Last fall, the government said it would use $1.5 billion from the Strategic Innovation Fund to accelerate investment in critical minerals projects. Last week, it unveiled its criteria for eligibility.

The federal government has revealed what types of projects are eligible for the $1.5 billion from the Strategic Innovation Fund (SIF) earmarked in the 2022 federal budget to accelerate investments in critical minerals projects.

To qualify, projects must focus on critical minerals processing, manufacturing, and recycling. The government says it will also consider mining projects that exhibit “exceptional innovation benefits and strong vertical integration” to grow domestic value chains.

“Critical minerals are a generational economic opportunity for Canada,” said Jonathan Wilkinson, minister of natural resources, in a press release last week announcing the criteria. “Through SIF, Canada is making smart, targeted investments in the most promising projects, helping to ensure we are the global supplier of choice for critical minerals and the technologies they enable.”

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