Six Canadian mining and resource companies scaling up technologies to extract or process battery minerals and rare earth elements for the electric vehicle market will share $14.1 million in new critical minerals funding from the Canadian government.
Natural Resources Minister Jonathan Wilkinson announced investments from the ministry’s pilot project and demonstration fund at the Prospectors & Developers Association of Canada (PDAC) convention in Toronto March 7.
Wilkinson said the early-stage support will help prepare the Canadian projects for larger scale rollouts.
“Canada can be a leader in this transition, or we can let it happen to us,” he told reporters on the convention floor.
Two of the six projects target lithium brine deposits in Western Canada.
Calgary-based E3 Lithium Ltd., will get $3.5 million of the funds to test its lithium extraction technology for a future commercial plant, while Prairie Lithium Corp., based in neighbouring Saskatchewan will get $1.1 million for similar work.
Companies based in Quebec and British Columbia focused on rare earth elements used in magnets each receive backing as well.
Ottawa has portioned off $5 million to assist Vancouver-based Search Minerals Inc., test a new hydrometallurgical process designed to isolate rare earth oxides. Quebec-based Geomega Resources, meantime, will receive $3 million for research that could help it establish Canada’s first magnet scrap recycling facility.
Additionally, Sherritt International and FPX Nickel Corp., will receive $800,000 and $725,000, respectively, for research projects targeting nickel and cobalt production.
The latest disbursement of federal innovation funding follows a similar announcement from the Ontario government at the PDAC convention March 6.
Queen’s Park said it would provide $500,000 to each Frontier Lithium Inc.; Vale Canada Ltd.; Ring of Fire Metals Pty Ltd.; EV Nickel Inc.; and Carbonix Inc. for projects aimed at advancing technologies to improve the processing of EV battery materials.
