The Canadian government has announced it will invest €10m to support two Canadian critical minerals projects in Northern Ontario.
As announced by Jonathan Wilkinson, Minister of Energy and Natural Resources, the Mining Innovation Rehabilitation and Applied Research Corp (MIRARCO) and Electra Battery Materials Corporation will receive $5m each to boost the critical minerals sector in Canada.
Wilkinson believes the projects will be instrumental in making Canada a globally leading hub in battery materials.
He said: “Today’s total investment of $10 million to Electra and MIRARCO will help to advance the development of dynamic and competitive critical minerals value chains in Canada and Northern Ontario.
“This funding will increase mineral and energy security, create good jobs, and support economic opportunities — supporting our work to build a cleaner Canada and a prosperous, sustainable economy that works for everyone.”
Canada’s critical minerals potential
The Canadian critical minerals industry currently employs over 625,000 Canadians and contributes around $100bn annually to Canada’s GDP.
With around 130 mining projects in development or planned over the next decade in Canada, with a combined value of $93.5bn, the country aims to seize this sizeable opportunity.
Northern Ontario, in particular, is uniquely positioned to spearhead the charge of battery materials, boasting the world’s largest mining industrial complex and second-largest nickel deposit.
With leading infrastructure and abundant battery materials, these recent investments will help bolster Canadian expertise to capitalise on the transition to electric vehicles.
MIRARCO: Boosting recovery of nickel, cobalt and copper
MIRARCO, a research arm of Laurentian University, aims to enhance the recovery of battery metals like nickel, cobalt, and copper from Vale and Glencore mine tailings in Greater Sudbury.
This project seeks to reduce the long-term social and environmental costs of mine waste while directly contributing to the battery supply chain, potentially unlocking substantial amounts of nickel and cobalt in Sudbury, Ontario.
Electra: Advancing battery materials recycling
Electra will use the funding to advance its recycling project for battery materials. Located five hours north of Toronto, Electra is building North America’s only battery-grade cobalt refinery.
After a successful batch-based demonstration in 2023, the project now aims to demonstrate continuous processing, showcasing the scalability and profitability of Electra’s proprietary technology for broader implementation.
This initiative will help conserve resources, reduce waste, and minimise the environmental impact of battery production, contributing to a resilient Canadian EV battery supply chain.
Canada updates critical minerals list
In addition to the recent funding injection into Canadian critical minerals, the government has also announced an update to the nation’s Critical Minerals List.
Initially containing 31 critical minerals, the list has now added high-purity iron, phosphorous, and silicon metal.
These materials are essential for various products, crucial for the energy transition, and vital for future economic prosperity despite often being in short supply.
Wilkinson added: “By updating Canada’s Critical Minerals List, we are taking a proactive step to ensure that Canada’s efforts to seize the generational economic opportunity presented by our critical minerals wealth are well informed by the most accurate market trends, geopolitical factors, and science.
“Investments in critical minerals projects create good jobs for workers, more avenues for Canadian innovation, and lower emissions across the country — all of which form an important part of our plan to build a cleaner Canada and a prosperous, sustainable economy.”
