News about Canadian federal strategies is beginning to become more specific:
There are multiple bullet points which VML stands to benefit from:
In order to develop its listed objectives, the government has earmarked:https://12ft.io/proxy?q=https%3A%2F%2Fwww.lexology.com%2Flibrary%2Fdetail.aspx%3Fg%3De55d7914-1a01-4eb1-bd3c-c8a566722f4f
- approximately $79 million for public geoscience and exploration to better identify and assess mineral deposits;
- a 30 per cent Critical Mineral Exploration Tax Credit for targeted critical minerals. This new tax credit would be available to investors under certain flow-through share agreements. It is applicable to specific critical minerals, including nickel, lithium, cobalt, graphite, copper, rare earth elements, uranium and others;
- approximately $48 million for targeted upstream critical mineral R&D through Canada’s research labs;
- approximately $144 million for deployment of technologies and materials to support critical mineral development for upstream and midstream segments of the value chain;
- approximately $21 million to support the CMCE to develop federal policies on critical minerals and to assist project developers in navigating regulatory processes and federal support measures;
- $40 million to support other northern regulatory processes in reviewing and permitting critical mineral projects; and
- $1.5 billion for the Strategic Innovation Fund (SIF) to support critical minerals projects, with prioritization given to advanced manufacturing (such as electric vehicle manufacturing), processing and recycling applications.
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