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The provincial government is adding more money to the Critical Minerals Innovation Fund.
It assists with projects that improve the critical minerals sector.
Mines Minister George Pirie says it will help with the strategy of connecting the mineral wealth in the north with the manufacturing might of the south.
“This investment is about building a pipeline of important research, development and commercialization of mining technologies, from extraction and processing to recovery and closure,” says Pirie.
The $15 million boost increases the province’s commitment to the fund to $20 million.
Eligible project costs can receive grants of up to $500 thousand.
Critical minerals are seen as being important to the building of electric vehicles and associated parts in Ontario.
“With the weakness of global supply chains being exposed in recent years, it’s our obligation in northern Ontario to step up and meet the needs of a changing world. I have said it many times, we have everything the world needs right here in northern Ontario, and this is our time to take advantage of our generational opportunity.”
The fund was first launched on November 22, providing funding to 12 industry-led projects since.
The mining sector supports the initiatives.
Trevor Walker, President and Chief Executive Officer of Frontier Lithium, says the investment underscores the importance of research, development and technology commercialization in the sector.
