The Canadian government has announced several investments to assist the mining sector in achieving net-zero carbon emissions.
The government has launched a Canada Growth Fund, a public investment vehicle that will be capitalised at C$15 billion over the next five years, Transport Minister Omar Alghabra said.
The fund will operate at arms-length from the Canadian government, he added.
The federal budget, announced earlier this month, includes several measures to support the country's first-ever Critical Minerals Strategy.
Measures include C$80 million in funding for public geoscience and exploration programmes, dedicating C$1.5 billion for new infrastructure investments for critical regions which include the chromite-rich Ring of Fire, and funding C$144 million in critical minerals research and development for responsible extraction and processing.
The budget also allocates C$1.5 billion to invest in new critical minerals projects, focusing on mineral processing, materials manufacturing and recycling for key minerals in the battery and rare earth supply chain.
Investing in critical minerals is necessary for the Canadian economy, Alghabra said.
"We will see growth in our economy, see thousands of good jobs created, and make Canada a vital part of the growing global critical minerals industry while improving the environment," he said.
