Canadian Innovation, Science and Industry Minister François-Philippe Champagne has announced the criteria for projects eligible for funds available through the Strategic Innovation Fund (SIF) that aims to accelerate investments in critical mineral projects.
The proposed fund, announced in the 2022 Budget, will make available C$1.5-billion in funding.Champagne states that the qualifying projects must focus on critical minerals processing, manufacturing and recycling; however, mining projects that show exceptional innovation benefits and strong vertical integration to grow domestic value chains will be considered.
These future projects must meet specific criteria and target one or more of the 31 minerals Canada has identified as "critical", with priority given to the six most significant minerals: lithium, graphite, nickel, cobalt, copper and rare earth elements.
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