Government of Canada invests in Foran Mining Corporation’s critical minerals production in Saskatchewan
January 28, 2025
The Government of Canada is investing $26.5 million in Foran Mining Corporation to support the company’s critical minerals production in Saskatchewan. The investment will help Foran Mining Corporation develop its Bigstone graphite mine, which is expected to create 150 new jobs.
Critical minerals are essential to the production of many high-tech products, including electric vehicles, batteries, and renewable energy technologies. The Government of Canada is committed to supporting the development of a sustainable and secure supply of critical minerals in Canada.
“This investment will help Foran Mining Corporation develop a new source of critical minerals in Canada,” said the Honourable Seamus O’Regan, Minister of Natural Resources. “This project will create jobs, boost the economy, and help us meet the growing demand for critical minerals.”
“We are grateful for the support of the Government of Canada,” said Patrick Soares, President and CEO of Foran Mining Corporation. “This investment will help us develop the Bigstone graphite mine and create new jobs in Saskatchewan.”
The Bigstone graphite mine is located in northern Saskatchewan, approximately 100 kilometers northeast of La Ronge. The mine is expected to produce up to 40,000 tonnes of graphite concentrate per year.
Graphite is a key component in the production of batteries, which are used in electric vehicles and renewable energy technologies. The demand for graphite is expected to grow significantly in the coming years as the world transitions to a cleaner energy future.
The Government of Canada’s investment in Foran Mining Corporation is part of its Critical Minerals Strategy. The strategy aims to secure Canada’s position as a global leader in the production and supply of critical minerals.
The Government of Canada is committed to supporting the development of a sustainable and secure supply of critical minerals in Canada. This investment in Foran Mining Corporation is a key step towards achieving that goal.
Government of Canada investing in Foran Mining Corporation’s critical minerals production in Saskatchewan
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