\u0027This is a game\u002Dchanger\u0027
The spending, announced during Canada’s federal budget unveiling on Thursday, promises grants for mineral surveying, processing and recycling, as well as tax credits for digging new mines and subsidies for infrastructure, though it would not reduce regulatory oversight.
Miners also have complained that Ottawa’s recent investments in battery components and facilities — including a battery gigafactory in Windsor that is a joint venture between Stellantis and South Korea’s LG Energy Solution — overlooked those facilities’ need to procure minerals to build the EV products.Article content
“The general climate in Canada is becoming more and more supportive, which is very good for the industry,” said David D’Onofrio of Toronto-based bank PowerOne Capital Markets, which is invested in several Canadian lithium and nickel projects.Article content Canada’s critical mineral deposits at current prices are valued at approximately $340 billion, a senior official said on Thursday.
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