Critical Minerals Innovation Fund gets boost from the province
Ontario's Minister of Mines George Pirie informed the mining and education sector that the Ford government is putting five million dollars towards the Critical Minerals Innovation Fund to increase research and development of new technologies.
"I know there’s a number of industries right now that will throw their hand up and say hey look we want to use this money to fund in partnership with the college, in partnership with Indigenous groups, in partnerships with already existing facilities to in fact make this happen," said Pirie.
This fund is expected to help build the supply chain for clean technologies, including electric vehicles.
“In lithium in particular, roughly eighty per cent of refined materials and chemicals come out of east Asia, in particular China so there’s really an opportunity with both governments and private industry to collaborate and work together to address that geopolitical concern," said Trevor Walker the CEO of Frontier Lithium.
Canada Nickel, which has its Crawford Project near Timmins, said this commitment has the potential to attract further investment.
“When investors see government is willing to put up risk capital to have mining activities advance,” said Mark Selby, CEO of Canada Nickel.
“It’s a very clear signal to the car companies, to the battery companies that we’re talking about that Ontario is very serious about seeing more mining happen in Ontario."
Officials with Northern College officials told CTV News the announcement was 'win-win' for both industry and students.
“Students involved with these projects, they end up with about a year and a half’s worth of experience just from a three month project because it’s hands on, it’s practical, it’s applying real world understanding of what they’re learning and that speaks volumes," said Doctor Audrey Penner, president of Northern College.
Mining companies interested in receiving money from the Critical Minerals Innovation Fund need to act quickly as applications will be accepted until Dec. 18.
CTVNews.ca Top Stories
Lack of detention space could force CBSA to release detainees, internal memo warns
The Canada Border Security Agency is scrambling to find space to hold high-risk detainees that are set to be transferred from provincial jails in June.
BREAKING American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
BREAKING Allman Brothers Band co-founder and legendary guitarist Dickey Betts dies at 80
Guitar legend Dickey Betts, who co-founded the Allman Brothers Band and wrote their biggest hit, 'Ramblin' Man,' has died. He was 80.
Trend Line Anger, pessimism towards federal government reach six-year high: Nanos survey
Most Canadians in March reported feeling angry or pessimistic towards the federal government than at any point in the last six years, according to a survey by Nanos Research.
Police make arrests in grandparent scam that defrauded victims out of $739K
Ontario Provincial Police say they have 'disrupted' an organized crime group that allegedly used an emergency grandparent scam to defraud seniors across Canada out of hundreds of thousands of dollars.
Motion to allow keffiyehs at Ontario legislature fails
A motion to reverse a ban on the keffiyeh within Queen’s Park failed to receive unanimous consent Thursday just moments after Ontario Premier Doug Ford reiterated his view that prohibiting the garment in the House is divisive.
What does it mean to be 'house poor' and how can you avoid it?
The journey to home ownership can be exciting, but personal finance columnist Christopher Liew warns about the trappings of becoming 'house poor' -- where an overwhelming portion of your income is devoured by housing costs. Liew offers some practical strategies to maintain better financial health while owning a home.
Calgary man charged with manslaughter in death of toddler
Calgary police say Winston Campbell, 45, has been charged in the death of a two-year-old girl in 2022.
B.C. child killer's lawyer walks out of review hearing
The lawyer representing child-killer Allan Schoenborn walked out of his client's annual review hearing Wednesday – abruptly ending proceedings marked by tense exchanges and several outbursts.