Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources, has announced the launch of the Call for Proposals (CFP) of the Critical Minerals Infrastructure Fund (CMIF).
The new Critical Minerals Infrastructure Fund will address key infrastructure gaps to enable sustainable critical minerals production and to connect resources to markets.
With up to $1.5bn available over seven years, the fund will support clean energy and electrification initiatives and transportation and infrastructure projects that will enable the sustainable development of Canada’s critical minerals.
The importance of critical minerals in the clean energy transition
Critical minerals are key enablers of clean technologies, like batteries, and clean energy sources, such as wind turbines and solar panels, which are essential to achieving a net-zero-emissions future and fighting climate change.
Canada is already a leading supplier of sustainably sourced minerals and materials and is committed to making strategic investments to reinforce its position and drive job creation and economic growth in every region of the country.
Jonathan Wilkinson explained: “Critical minerals are a generational economic opportunity for Canada.
“As major enablers of clean technologies and clean energy sources, demand for critical minerals is projected to rise exponentially as the global economy shifts toward low-carbon solutions.”
How will the Critical Minerals Infrastructure Fund work?
The CMIF is a key component of the Canadian Critical Minerals Strategy and will complement other clean energy and transportation support that is already benefiting the critical minerals sector.
This CFP will be the first of several under the Critical Minerals Infrastructure Fund, with up to $300m in contribution funding available under the Pre-construction and Project Development Stream and the Infrastructure Deployment Stream.
Through these streams, applicants can seek access to up to $50m per project for nongovernmental applicants and up to $100m per project for provincial and territorial governments investing in public projects.
“The Critical Minerals Infrastructure Fund will help unlock the critical minerals sector that is so important to developing clean technology,” said Sean Fraser, Canada’s Minister of Housing, Infrastructure and Communities.
He added: “The Canada Infrastructure Bank will play an important complementary role by supporting large-scale projects as we progress toward a net-zero future. Through these investments, we are creating skilled jobs and supporting northern communities for years to come.”
Information on funding opportunities and the applicant guide are now available online. Applications for this first CFP must be submitted online by 29 February 2024, at 11:59 p.m. PST.
