Canada to Unlock Critical Minerals Development in Northwest Territories With New Funding
Ottawa, ON – November 13, 2024 – The Government of Canada announced today a significant investment to unlock the development of critical minerals in the Northwest Territories.
Strategic Partnership for Critical Minerals
The investment is part of the Strategic Partnership for Critical Minerals (SPCM), a joint initiative between the Government of Canada and the Northwest Territories government. The SPCM aims to foster a competitive and sustainable critical minerals industry in the Northwest Territories.
$200 Million Investment
The Government of Canada is providing $200 million over five years through the critical minerals exploration program. This funding will support exploration activities, including geological surveys, geochemical sampling, and drilling.
Critical Minerals for the 21st Century
Critical minerals are essential for the production of clean technologies, such as electric vehicles, solar panels, and wind turbines. The Northwest Territories has significant potential for the development of critical minerals, including lithium, cobalt, and rare earth elements.
Job Creation and Economic Growth
The development of a critical minerals industry in the Northwest Territories is expected to create jobs and stimulate economic growth. The government estimates that the industry could create up to 2,000 jobs over the next decade.
Environmental Protection
The government is committed to ensuring that the development of critical minerals is done in an environmentally responsible manner. The funding will support environmental assessments and monitoring programs to minimize the impact on the land and wildlife.
Collaboration and Innovation
The SPCM will bring together industry, Indigenous communities, and research institutions to collaborate on critical minerals development. The government is encouraging innovation and the development of new technologies to extract and process these minerals sustainably.
Quote from the Minister
“The development of critical minerals in the Northwest Territories is a strategic priority for our government,” said the Honourable Jonathan Wilkinson, Minister of Natural Resources. “This investment will unlock the potential of this industry, create jobs, and contribute to our transition to a clean energy future.”
Conclusion
The Government of Canada’s investment in critical minerals development in the Northwest Territories is a significant step towards securing a sustainable supply of these essential minerals for the 21st century. The Strategic Partnership for Critical Minerals will foster a competitive industry, create jobs, and stimulate economic growth while protecting the environment.
Canada to Unlock Critical Minerals Development in Northwest Territories With New Funding
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