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They are Glencore’s Onaping Depth project, Vale’s Copper Cliff Deep project and KGHM’s Victoria Mine project
The federal government has launched a $1.5-billion fund for critical minerals infrastructure, while simultaneously highlighting close to 500 projects nationwide that are generating jobs and growing a greener economy. The funding announcement this week coincided with the release of an annual report on major projects underway across the country in the fields of energy, forestry and mining.
Three of the big mining projects are in Sudbury: Glencore’s Onaping Depth project, with an estimated capital cost of $1 billion to $2.5 billion; the Copper Cliff Deep project being pursued by Vale, pegged at $750 million to $1B; and a revived Victoria Mine project being undertaken in the Whitefish area by Polish company KGHM, at a projected cost of $1B to $2.5B.
All of the local projects are described as under construction. There are also two major projects on the go in the general vicinity of Sudbury: the Cote Lake mine operated by IAMGOLD, near Gogama; and a Shakespeare project being developed north of Webbwood by Magna Mining.
Altogether, there are 129 mining projects either under construction or planned over the next 10 years in Canada, with a combined value of $93.6B. “This is an increase of five projects and $5.3B in total capital value (a boost of 6 per cent) since 2022,” pointed out Carolyn Svonkin, press secretary with the Office of the Minister of Energy and Natural Resources Canada.
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