Sudbury MP Viviane Lapointe is encouraging the business community in Sudbury to sign up for funding related to the Strategic Innovation Fund which has $1.5 billion available to promote the growth of clean technologies such as battery and electric vehicle manufacturing.
The federal 2022 Budget proposed $1.5 billion in targeted funds available through the Strategic Innovation Fund (SIF), which aims to accelerate investments in critical minerals projects. The criteria for projects eligible for the fund have been released, said a news release from Lapointe's office.
Mining and mining support industries could play a strong role. Qualifying projects must focus on critical mineral processing, manufacturing, and recycling. Mining projects that show exceptional innovation benefits and strong vertical integration to grow domestic value chains will be considered, said the release.
These future projects must meet specific criteria and target one or more of the 31 minerals Canada has identified as “critical,” with priority given to the six most significant minerals, which include lithium, graphite, nickel, cobalt, copper and rare earth elements, said the release.
Lapointe said it is expected that Sudbury will be one of the centres of excellence and expertise in the development of Canada's battery electric automotive industry and the development of critical minerals.
“There is no denying the crucial role Sudbury will play in the execution of Canada’s Critical Minerals Strategy, and the development of advanced technology value chains," said Lapointe.
"The world needs Canada, and Sudbury’s resources more than ever. The Strategic Innovation Fund is a step to ensure Canada is the global supplier of choice for critical minerals. I encourage Sudbury companies with applicable projects to apply,” she added.
— Sudbury.com
