March 3, 2025 Toronto, Ontario Natural Resources Canada
As global demand for critical minerals is expected to double by 2040, Canada is uniquely positioned to be a global leader and supply this growing market: we have an abundance of critical minerals and the workers, businesses and communities with the know-how to scale up the mining, processing and manufacturing of products and the recycling of these minerals. Since the launch of Canada's first-ever Critical Minerals Strategy in 2023, the Government of Canada has made historic investments and removed barriers to get good mines and processing facilities built faster, responsibly.
Today, at the 2025 Prospectors and Developers Association of Canada Convention, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced additional measures to further develop Canada's critical minerals advantage.
First, this includes a two-year extension of the 15-percent Mineral Exploration Tax Credit (METC) for investors in flow-through shares until March 31, 2027. The METC provides important support to junior exploration, mining and mineral processing companies. This extension is expected to provide $110 million to support exploration investment across Canada, including in discovering new mineral deposits, developing mining sites and driving regional economic growth, particularly in Indigenous northern and remote communities.
The Minister also announced the official launch of a second Call for Proposals under the Critical Minerals Infrastructure Fund (CMIF), with up to $500 million in funding available for energy and transportation infrastructure projects necessary to accelerate mining and enable the development and expansion of critical minerals in Canada. This new call for proposals follows the first one launched last year, which has now funded more than 31 projects with up to $265 million in support, spurring job creation and economic growth.
By developing and expanding critical minerals production, including by fostering the growth of an end-to-end value chain, Canada can create good jobs for Canadian workers and businesses, bolster its energy security, reduce our reliance on authoritarian governments and contribute to a resilient and secure economic future.
Lastly, to support infrastructure development, innovation and data collection, while partnering with Indigenous communities on engagement, participation and capacity, Minister Wilkinson also announced a total investment up to $50 million in critical mineral projects.
These announcements will further support Canada as a global leader, a reliable supplier and ally of choice of critical minerals to the world, which are increasingly in demand to power the economy of the future - including semiconductors and processing chips, batteries and clean energy technologies, and much more.
