September 20, 2024 Vancouver, British Columbia Natural Resources Canada
Investments in critical minerals infrastructure are essential to enable Canada to seize the generational opportunity of the transition to a low-carbon economy and capitalize on our rich mineral resources. Canada is well positioned to be a global leader and first-class producer of a wide variety of critical minerals that are essential to power the clean economy and, in turn, create good jobs and support economic opportunities across critical mineral value chains - from upstream exploration and extraction to downstream processing, manufacturing and recycling.
Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, with the Honourable Josie Osborne, British Columbia's Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Ranj Pillai, Premier of the Yukon, announced up to $60 million in funding, pending final due diligence from Natural Resources Canada, for two critical minerals infrastructure developments in B.C.'s Golden Triangle and the Yukon. This funding would be provided through the Critical Minerals Infrastructure Fund (CMIF).
Galore Creek Mining Corporation (Galore Creek) is planning to construct a 43-kilometre access road to support the development of its copper mine located in Tahltan Territory in northwest B.C. The Galore Creek deposits contain over 12 billion pounds of copper and, once in production, will significantly increase Canada's annual copper supply. The construction of the Galore Creek Access Road would link the mine project to existing road infrastructure, provide ground access to proposed mill and processing facilities, and provide the electricity transmission corridor allowing the Galore Creek mine to operate using BC Hydro's low-emission electricity grid. Road improvements are integral to advancing critical minerals development in B.C.'s northwest, in partnership with First Nations. Pending final due diligence, Natural Resources Canada has conditionally approved an investment of up to $20 million under the CMIF for this project.
The Government of Yukon is seeking to undertake pre-feasibility activities to advance a 765-kilometre, high-voltage transmission line network that would connect the Yukon electrical grid to the North American grid in B.C. This regional project has proposed energy infrastructure located in two priority regions for critical minerals development - Yukon's Cassiar and Tanana regions and B.C.'s Golden Triangle. The transmission line could support projects producing critical minerals such as cobalt, copper, molybdenum, nickel, platinum group metals, tungsten and zinc in the Yukon and northern B.C. Pending final due diligence, Natural Resources Canada has conditionally approved an investment of up to $40 million under the CMIF for this project.
The Critical Minerals Infrastructure Fund is a key program under the Canadian Critical Minerals Strategy to address infrastructure gaps and enable sustainable critical minerals production and connect resources to markets through various clean energy, electrification and transportation infrastructure projects. Future funding decisions for projects under the CMIF to further critical minerals infrastructure development are also expected in the coming months.
These projects - which benefit from close collaboration under the B.C. and Yukon Regional Energy and Resource Tables - are, in addition to the recently announced Northwest BC Highway Corridor Improvements Project, key to facilitating critical minerals development in the Golden Triangle and Yukon. B.C.'s Golden Triangle has considerable mineral potential and holds approximately 75 percent of Canada's known copper reserves. Copper is crucial in various industrial processes and a fundamental component in electrical wiring, electronics and renewable energy systems, including solar panels and wind turbines.
Critical minerals are essential components in products used for clean energy technologies such as electric vehicles, electrical transmission lines and batteries. B.C. and the Yukon's mining sectors provide many of the building blocks of clean technologies needed to fight climate change and build a clean economy. Across the country, clean energy solutions are providing enormous economic opportunity for Canada.
