Contributing to trade resilience and economic security at a pivotal moment
OTTAWA, ON, May 19, 2026 /CNW/ - Export Development Canada (EDC) is deepening its support for Canada's mining and critical minerals sector, spanning the full value chain from producers to suppliers, recognizing its importance to Canada's economic resilience, security and efforts to diversify trade.
Today, EDC is proud to highlight that, in 2025 alone, it supported more than 300 customers and facilitated approximately $8.7 billion in business across Canada's critical minerals sector, up from $7.9 billion in 2024.
"Canada is well positioned to meet global demand and be a reliable supplier of critical minerals--supporting electrification, decarbonization, and economic security at home and abroad," said Alison Nankivell, President and CEO, EDC. "To seize this moment for Canada, EDC is evolving--taking on more risk and supporting projects in new ways, including earlier‑stage, pre‑construction financing--to accelerate the development of projects that are transformative for Canada. We're also focused on exporting our mining expertise around the world, creating trade opportunities for Canadian mining suppliers in strategic international projects."
As global trade dynamics shift and demand for trusted suppliers grows, the Canadian mining sector will play a key role in supporting trade diversification and enhancing supply chain resilience for Canada and its trading partners. Demand for critical minerals is accelerating rapidly given their role in the energy transition, defence and security, digital technologies and infrastructure.
Aligned with the Government of Canada's Critical Minerals Strategy, EDC is deploying risk capital in partnership with other federal government agencies and the private sector to support strategic Canadian mining projects that will help support clean growth, strengthen trade and enhance economic, national and energy security.
"Delivering our world-class critical minerals to the global stage is essential to diversifying our trading relationships and doubling our non-US exports," said the Honourable Maninder Sidhu, Minister of International Trade. "Investments in our mines and alliances with Canadian critical minerals reflect global confidence in Canadian resources and workers. These projects are proof that we are moving at speeds never seen before to secure our place as a critical minerals superpower and create good-paying jobs for Canadians."
"Canada's critical minerals are the building blocks of a strong, resilient economy and a secure energy future for all. That's why our government is making targeted, strategic investments to help Canada's mining sector compete, grow, and deliver major projects responsibly," said the Honourable Tim Hodgson, Minister of Energy and Natural Resources. "By working alongside partners like Export Development Canada to unlock financing and attract global investment, we are strengthening Canadian supply chains, creating good jobs, and positioning Canada as the reliable supplier of the critical minerals the world needs."
With more than 80 years of experience supporting Canada's mining industry, EDC's support spans the full critical minerals ecosystem--from early‑stage project development and mine expansions to processing facilities, suppliers of goods and services, and exporters delivering Canadian technologies and solutions to the world.
The examples below showcase the range of companies that EDC has supported across the mining sector.
Nouveau Monde Graphite: In March 2026, EDC and the Canada Infrastructure Bank (CIB) executed an agreement with Nouveau Monde Graphite on a senior secured project debt facility of approximately C$459 million to support the next phase of the Matawinie Mine in Quebec. Once financial close is achieved, the financing will enable the development, construction and commissioning of the graphite mine. This project, which was referred to the federal Major Projects Office in November 2025, aims to accelerate the development of an integrated value chain in Canada, and help G7 countries and allies secure critical minerals supplies.
Torngat Metals: In 2025, EDC provided a C$110 million bridge financing loan to Torngat Metals, to support the next phase of its Strange Lake rare earth project in Quebec and Newfoundland and Labrador. The financing is supporting pre-construction activities, including engineering and environmental studies, and marked the first time EDC extended financing to an early-stage mining project. Anticipated to be one of the largest heavy rare earth deposits outside of China, the Strange Lake Project will help strengthen Canada's mining supply chain. The CIB's $55 million infrastructure loan combined with EDC's bridge loan facility further advances the next stage of the project.
Vulcan Energy Resources: At the end of 2025, EDC provided USD 232 million in structured project financing to support Australia-based Vulcan Energy Resources Ltd. This senior secured loan formed part of Vulcan's €2.2 billion financing package for phase one of the Lionheart Project--a geothermal lithium project in Germany's Upper Rhine Valley that will produce battery-grade lithium for European electric vehicle and energy storage markets. EDC's participation supports the delivery of Canadian technology and engineering services to the project.
MineSense: A longstanding EDC customer, Vancouver-based MineSense has received various types of EDC financial support over the past decade, including equity, financing and bonding support. The EDC support has helped the company scale its data analytics and sensor technology globally to help mining operators separate higher‑value material from waste at the point of loading, improving recovery while reducing energy use, emissions and overall waste. By improving the efficiency and sustainability of mineral extraction, MineSense is strengthening the supply of copper and other critical minerals essential to electrification and clean energy technologies.
About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.
SOURCE Export Development Canada
Media Contact: Media, Export Development Canada, 1-888-222-4065, [email protected]
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