Trudeau announces proposed investment of up to $222M to help critical minerals production
by CM Staff
This investment will also aim to cut emissions at RTFT's plant in Sorel-Tracy, Quebec, almost in half by 2030, including by electrifying furnaces and replacing coal.
SOREL-TRACY — The Prime Minister, Justin Trudeau, was joined on Oct. 11 by Minister of Innovation, Science and Industry, François-Philippe Champagne, to announce a new proposed federal investment of up to $222 million through the Strategic Innovation Fund to help Rio Tinto Fer et Titane (RTFT) to increase its production of critical minerals, including lithium, titanium, and scandium. These critical minerals will go into products like electric vehicles and batteries, which are increasingly in demand within Canada and globally. This investment will try and help feed clean technology supply chains at home and abroad, setting up Canadian workers and the Canadian economy for success.
This investment will also aim to cut emissions at RTFT’s plant in Sorel-Tracy, Quebec, almost in half by 2030, including by electrifying furnaces and replacing coal. In total, this investment will help create up to 150 good Canadian jobs and maintain a strong workforce at RTFT, including highly skilled positions.
“Good middle-class jobs, clean air, and made-in-Canada tech: this is our vision for a strong economy and a strong future. Today’s announcement is about delivering on that vision and positioning Canada as a leader in critical minerals – a key part of things like electric vehicles. Together, we will continue to innovate, create good jobs, and keep our air clean,” said Justin Trudeau, Prime Minister of Canada.
“Supporting the growth of Canada’s critical minerals supply chain will ensure that our country remains a global leader in this strategic sector. Our government is committed to the sustainable development of critical minerals resources, creating good jobs, and building strong global supply chains while strengthening trade relationships with Canada’s closest allies,” said François-Philippe Champagne, Minister of Innovation, Science and Industry.
“Canada’s Critical Minerals Strategy will position Canada as the global supplier of choice for the critical minerals and materials needed for the green, digital global economy. We will work with provinces, territories, Indigenous Peoples, industry workers and stakeholders to create a strategy that will create good jobs for Canadians, grow our economy and make Canada a vital player on the world stage,” said Jonathan Wilkinson, Minister of Natural Resources.