Government of Canada invests to unlock Canada's critical minerals advantage

TORONTO, March 3, 2026 /CNW/ - The Government of Canada is making smart investments so we can put our mineral wealth to work and ensure all Canadians benefit from the resources beneath our feet. In total, more than 60 minerals and metals are produced by over 200 mines currently operating across the country. Now, by leveraging our world–class geology, skilled workforce and strong partnerships with industry and Indigenous groups, we are building an end-to-end value chain. This will create good jobs, support resource-based communities, underpin our Defence Industrial and Automotive Strategies and provide the foundation for lasting economic and national security.

Today, at the 2026 Prospectors & Developers Association of Canada (PDAC) Convention, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, announced over $3.6 billion in new programs and investments to unlock Canada's critical minerals advantage and deliver Canadian minerals from mine to market.

The Minister announced up to $165.2 million for 22 Canadian projects that will accelerate planning, development and processing capacity across the country to unlock over $434 million in Canadian project capital in critical minerals projects across eight provinces.

Building on the success of the Critical Minerals Infrastructure Fund (CMIF), the Minister also announced the launch of the new First and Last Mile Fund (FLMF). Supported by $1.5 billion in federal funding, the FLMF will get infrastructure built to support new mines and economic growth in mining regions. From mine site development projects like roads and transmission, to infrastructure that enables midstream processing, to unlocking new transportation routes to market, the Fund will prioritize projects that move Canada's resources to customers at home and abroad efficiently and responsibly. Recognizing that most critical minerals deposits and enabling infrastructure projects in Canada are located on Indigenous territories, the FLMF will make specific funding available to enable Indigenous leadership, engagement and participation throughout the mining value chain.

The Minister also highlighted the upcoming $2-billion Critical Minerals Sovereign Fund (CMSF), a first-of-its-kind fund, that will make strategic federal investments -- including equity investments, loan guarantees and supply agreements -- in critical mineral value chains to get projects to Final Investment Decision faster and help us increase and diversify the minerals we produce at home. Minister Hodgson announced that the CMSF will officially launch this spring.

Canada's robust environmental review process and high Indigenous consultation standards are essential to unlocking our natural resources responsibly, but the government recognizes the system can also be complex for proponents to navigate. To help industry partners navigate the system within the timelines they need for investment certainty, Minister Hodgson also launched a new Mine Permit Navigator. This interactive, online tool provides mining companies with a roadmap to federal permits and approvals, helping proponents achieve better investment certainty as Canada moves to a "One Project, One Review" system and two-year approval timelines.

Canada is using every tool at its disposal to move quickly and deliberately to build a mining sector that strengthens our economy; provides jobs today and for generations to come; supports our allies; safeguards our security; and delivers for the planet. Canada is turning resource strength into national strength and assuming our position as a global leader in the minerals that will define the 21^st century.

Quote

"Canada has the minerals the world wants, and we are acting with speed, scale and purpose to get them from deposit to market. We are not just extracting rocks -- we are purposefully building and onshoring full, domestic value chains that create good jobs, strengthen our economic and national security, and support rural, remote and northern communities. Today's investments are about catalyzing more mining from coast to coast to coast, so we can meet demand with Canadian materials: sourced and mined sustainably, in partnership with Indigenous Peoples and to the benefit of hardworking Canadian families."

The Honourable Tim Hodgson
Minister of Energy and Natural Resources

Quick Facts

• On February 19, 2026, Natural Resources Canada launched a continuous Expression of Interest under the Critical Minerals Research Development Demonstration Program and Global Partnerships Initiative to identify high-potential, shovel-ready critical minerals projects.
• NRCan has also announced the launch of the Digital Credentials Request for Information (RFI). This RFI is seeking input from industry, subject matter experts, academia, non-profits, Indigenous organizations and other interested stakeholders and will explore the topic of digital credentials in mining, specifically the feasibility of and interest in a "Mined in Canada" digital credential as proof of origin tied to the mine site and to the province or territory of origin.
• On February 17, 2026, the Government of Canada announced the release of Canada's Defence Industrial Strategy, a long-term plan to support national prosperity and economic security by strengthening Canada's defence industrial base: the network of businesses, supply chains, and innovation networks that design, build, maintain and support military equipment and systems. Among many other actions, the Strategy puts in place measures and investments to accelerate critical minerals projects and support the development of Canadian supply chains that are reliable, secure and aligned with national defence and allied needs. It also enables the Government of Canada to to stockpile critical and dual-use minerals, including through the Defence Production Act, to ensure reliable access to essential materials during times of increased demand or global disruption.
• The Canadian Critical Minerals Strategy aims to advance the development of critical minerals and related value chains to drive the transition to a low-carbon economy and support advanced technology and manufacturing. Between the launch of the Strategy in 2022 and 2024, domestic production of critical minerals in Canada has increased by more than 10 percent for nine critical minerals: aluminum, graphite, lithium, magnesium (magnesite), molybdenum, niobium, platinum group metals, scandium and uranium.
• Canada is widely recognized as a global leader in responsible and sustainable mining, thanks to its strong environmental safeguards, transparent and predictable regulatory systems, meaningful Indigenous partnerships, low–carbon electricity grids and world–class workforce. These advantages are why leading global ESG–conscious investors look to Canada as a trusted leader for secure, responsibly produced minerals and metals.
• The mining sector offers well-paid, high-quality jobs for Canadians across the country, including many in northern and remote locations. In 2024, the minerals and metals sector directly employed 438,000 individuals and indirectly employed an additional 286,000, for a total of 724,000 individuals. At $146,213, the average annual total compensation per job in the mining industry is almost twice the all-industry average of $78,098.

Related Products

• Backgrounder: Government of Canada invests to unlock Canada's critical minerals advantage
• Speech: The Honourable Minister of Energy and Natural Resources "Unlocking Canada's critical minerals advantage" Prospectors & Developers Association of Canada (PDAC) Convention 2026

Associated Links

• Canadian Critical Minerals Strategy
• First and Last Mile Fund (FLMF)
• Critical Minerals Research, Development and Demonstration Program (CMRDD)
• Critical Minerals Geoscience and Data Initiative (CMGD)
• Indigenous Natural Resource Partnerships Program (INRP)
• Energy Innovation Program (EIP)
• Mine Permit Navigator
• Request for Information on a "Mined in Canada" digital credential
• Expression of Interest under CMRDD and GPI

Follow Natural Resources Canada on LinkedIn.

SOURCE Natural Resources Canada

Contacts: Natural Resources Canada, Media Relations, 343-292-6096, [email protected]; Charlotte Power, Office of the Minister of Energy and Natural Resources, [email protected]