Thursday, May 22, 2025
Critical minerals are the foundation upon which modern technology is built. They are used in a wide range of essential products ranging from mobile phones and solar panels to electric vehicle batteries, medical devices and defence applications. Canada’s critical minerals list identifies 34 minerals and metals.
As part of the government’s plan to protect Ontario by building a more competitive, resilient and self-reliant economy, the province is supporting the creation of a made-in-Ontario critical minerals supply chain that includes new resources and opportunities for Indigenous equity partnerships. These measures include nearly $3.1 billion in loans, grants and scholarships that would support Indigenous participation, partnership and ownership in Ontario’s critical mineral supply chain.
“Ontario’s vast supply of critical minerals are at the heart of our plan to protect Ontario,” said Peter Bethlenfalvy, Ontario’s Minister of Finance. “By investing to unlock and process these minerals here in Ontario in partnership with Indigenous communities, we can make Ontario the top global hub of critical mineral development and protect our economy, workers and communities for decades to come.”
To unlock Ontario’s critical minerals, create new jobs and opportunities and ensure Indigenous communities reap the benefits of critical mineral development, the province is proposing the following measures as part of its 2025 budget, A Plan to Protect Ontario:
- Tripling the total amount of loan guarantees through the Indigenous Opportunities Financing Program (formerly the Aboriginal Loan Guarantee Program) to $3 billion and expanding eligibility beyond the electricity sector to include eligible projects in mining and critical minerals, resource development, energy, pipelines and other sectors, to help support investments by Indigenous communities in Ontario’s growth.
- Investing $70 million over four years through the Indigenous Participation Fund (formerly known as the Aboriginal Participation Fund) to improve capacity for Indigenous communities and organizations in areas of high mineral activity to participate in regulatory processes related to mineral exploration and mine development. The investment will provide greater capacity support to Indigenous communities to enable meaningful consultation on mineral exploration and mine development projects and better equip Indigenous communities to leverage economic opportunities through increased participation in Ontario’s growing minerals sector.
- Providing $10 million over three years to create new scholarship opportunities for First Nations postsecondary students interested in pursuing careers in resource development, equipping them with access to the tools and training to succeed as leaders and innovators.
“Our government is seizing the opportunity to strengthen economic and community partnerships with Indigenous communities across Ontario,” said Greg Rickford, Minister of Indigenous Affairs and First Nations Economic Reconciliation and the Minister Responsible for Ring of Fire Economic and Community Partnerships. “By investing in Indigenous equity, capacity and training, we’re preparing the next generation for careers both on and in the ground — ensuring Indigenous communities are key partners in the future of Ontario’s fully integrated critical minerals supply chain.”
These historic investments can help unlock new opportunities for Ontario workers and businesses, particularly in Indigenous communities and northern hubs such as Thunder Bay, Sault Ste. Marie, Sudbury, North Bay, and Timmins.
Ontario’s abundant supply of critical minerals includes the vast reserves found in the Ring of Fire, an area almost 5,000 square kilometres in size located approximately 500 kilometres northeast of Thunder Bay.
“Ontario’s nearly $3.1 billion investment in Indigenous economic opportunity is a strong signal that the province recognizes the critical role First Nations play in the future of Canada’s economy,” said Mark Podlasly, CEO, First Nations Major Projects Coalition (FNMPC). “The expansion of the Indigenous Opportunities Financing Program aligns directly with FNMPC’s mandate to ensure Indigenous nations have the tools to lead and partner in major projects on their lands. These measures support our members’ efforts to build equity ownership and long-term prosperity for their communities. We commend the Government of Ontario for this step forward in advancing meaningful economic reconciliation.”
Electra Battery Materials Corporation commends the Ontario government for the landmark $500 million Critical Minerals Processing Fund, unveiled in the 2025 provincial budget announced last week. The investment commitment represents a significant step toward building a domestic, vertically integrated supply chain for clean energy technologies.
The fund is expected to create economic opportunities in key Northern Ontario communities and support the growth of clean energy and electric vehicle manufacturing — outcomes that align closely with Electra’s mission to build a sustainable North American battery materials supply chain.
“As the global race to secure critical mineral supply chains intensifies, the need for a North America-first approach has never been clearer. Recent U.S. policy discussions on partnerships for mineral rights, including in the Democratic Republic of Congo, underscore the strategic importance of securing domestic resources,” said Electra CEO Trent Mell. “Electra remains at the forefront of this effort, with the only cobalt sulfate refinery on the continent, positioned to play a vital role in both new energy innovation and national security.”
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Featured image credit: Government of Ontario/Stephen Lecce/X
