Canada reveals $3.8b critical mineral strategy

14 December 2022 11:30

The Canadian Government have revealed its Critical Minerals Strategy, bringing in 3.8 billion Canadian dollars of federal funding to accelerate the development of strategic projects in mining, processing, manufacturing and waste reduction of critical minerals.

For miners, it means $79.2 million dollars for public geoscience to better identify and assess mineral deposits — and a 30 per cent critical mineral exploration tax credit for targeted critical minerals.

“Canada’s Critical Minerals Strategy will enable this country to seize the generational economic opportunity presented by critical minerals, creating sustainable, well-paying jobs while growing our economy,” Canada Minister of Natural Resources Jonathan Wilkinson said.

It is another sign of strength for the industry as global powers ramp up the search to find resources vital to global electrification from within their own borders as emissions targets draw ever nearer.

The list is 31 minerals long, including lithium, uranium, nickel, cobalt, graphite and zinc, and here are some of the explorers already with boots on the ground exploring their critical mineral territory in the Great White North.

First Class Metals (LSE: FCM)

Exploring for nickel in Ontario, the West Pickle Lake JV continues to return exceptional high grades from a massive sulphide discovery which remains open in the direction of fully owned First Class Metals territory — who have just entered into an exclusive sixty-day agreement for a highly prospective, strategically located lithium project within the famed mining province

MegaWatt Lithium and Battery Metals (CSE: MEGA)

Megawatt have long maintained an eagle eye on core EV metal projects and are preparing for twinning diamond drill campaigns in Quebec’s renowned hard rock lithium district, while holding two Canadian cobalt projects and more expansive critical mineral assets in Australia.

Power Metal Resources (LON: POW)

One of the few uranium investment opportunities on the London markets, Power Metal have set up shop in the legendary Athabasca Basin home to some of the world’s most eminent deposits and are returning high grade hits as global superpowers begin lighting up nuclear programs.

Valor Resources (ASX: VAL)

Also in the Athabasca, Valor have made major extensions to its near surface uranium, maxing out the scintillometer numerous times to set up a hefty length of strike ready for drilling at Surprise Creek, just one of several emerging Valor uranium projects in the region.


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