Ottawa funding to ‘develop’ critical minerals

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Funding of up to $60 million for two critical minerals infrastructure projects in British Columbia’s Golden Triangle and Yukon was announced Friday by Natural Resources Canada in a news release.

The funds would come from the Critical Minerals Infrastructure Fund (CMIF), subject to final due diligence review by Natural Resources Canada.

This investment aims to ensure that Canada “can seize the unique opportunity offered by the transition to a low-carbon economy and benefit from its rich mineral resources.”

First, the Galore Creek Mining Corporation plans to build a 43-kilometre access road to facilitate the development of its copper mine in Tahltan territory in northwestern British Columbia. The mine’s deposit contains more than 12 billion pounds of copper, the statement said.

Second, the Yukon government also wants to make pre-feasibility activities in support of a 765 km high-voltage transmission line network that would connect the Yukon electricity grid to the North American grid in British Columbia.

British Columbia’s Golden Triangle presents considerable mineral potential and contains approximately 75% of Canada’s known copper reservesthe statement said.

Projects like these accelerate mine construction and allow us to seize the unique opportunity before us. We need these investments to support the development of critical minerals in the region, to improve community accessibility and safety, and to create good mining jobs in British Columbia and Yukon.