The provincial govenment is announcing billions of dollars for Indigenous communities in the development of critical minerals in the north.
That includes tripling the amount of money in loan guarantees and scholarships for Indigenous students.
Finance Minister Peter Bethlenfalvy says the funding is to help unlock the mineral potential in the region.
“We’re investing $3 billion into our new Indigenous Opportunities Financing Program, which will support Indigenous participation in more sectors, like electricity, critical minerals, and resource development, working to create partnerships with First Nations.” Bethlenfalvy said at a press conference Wednesday morning.
Bethlenfalvy says they want to unlock the potential of the region.
“We want to make sure Indigenous communities are full partners in this growth. We will achieve this by unlocking the true economic potential of the Ring of Fire and beyond and creating a critical mineral supply chain that lays the foundation for future generations to succeed.”
The province is providing funding for three separate initiatives, including $3 billion through the Indigenous Opportunities Financing Program, $70 million for the Indigenous Partnership Fund and 10 million dollars for First Nation scholarships for students pursuing careers in resource development.
Indigenous Affairs minister Greg Rickford adds that one of the goals is create all-weather roads that can connect First Nations and also help develop the Ring of Fire.
