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Thursday, 06/09/2022 11:15:17 AM

Thursday, June 09, 2022 11:15:17 AM

Post# of 391
Article: "The Canadian government has revealed it will provide C$3.8B of financial support for critical minerals in its 2022 budget."

(Hat Tip; Link from Putz Mueler on the NIOBF board)


Canada moves quickly and hard
"The Canadian government has revealed it will provide C$3.8B of financial support for critical minerals in its 2022 budget.

The funds are being allocated to accelerate domestic production and processing of critical minerals, particularly lithium, cobalt and nickel to be used in the manufacture of LIBs, portable electronics, and stationary storage cells to make electricity use more efficient.

The 2022 budget critical mineral support highlights include:

C$1.5B to invest in new critical minerals projects, with priorities for mineral processing, materials manufacturing, and recycling for key mineral and metal products in the battery and rare-earths supply chains
C$80M for public geoscience and exploration programmes to help find the next generation of critical minerals deposits
Doubling of the Mineral Exploration Tax Credit (“METC”) for targeted critical minerals, including nickel, copper, cobalt, rare earths, and uranium
C$1.5B for infrastructure investments to unlock new mineral projects in key regions
C$144M for research and development to support responsible extraction and processing of critical minerals
C$10M renewal for the Centre of Excellence on Critical Minerals for three additional years
C$40M to support northern regulatory processes to review and permit critical minerals projects
C$70M for global partnerships to promote Canadian mining leadership
C$15B to support the Canada Growth Fund to restructure supply chains in areas important to Canada’s future prosperity, including the natural resources sector
The budget announcement has been widely welcomed by industry and Canadian critical minerals developers." snip...

Search is receiving funds from Newfoundland and Labrador, I do not know if CA funding will be provided to them and what strings would be attached. (This would probably explain SHCMF decision siting of processing facilities in Newfoundland.)