Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Investing

Ontario and Saskatchewan Ramp Up Mining Sector Investments

by April 5, 2024
April 5, 2024
Ontario and Saskatchewan Ramp Up Mining Sector Investments

The Canadian provinces of Ontario and Saskatchewan are funnelling substantial funds into their mining sectors to bolster critical minerals infrastructure and cultivate the next generation of miners.

The investments are poised to revitalize key areas of the provinces’ economies and enhance their global competitiveness.

In its 2024 budget, Ontario announced plans to inject C$15 million into the Critical Minerals Innovation Fund (CMIF) to foster research and development in the critical minerals sector. The investment will be spread across three years, and will help boost research, development and commercialization of forward-thinking technologies.

Launched in late 2022, the CMIF offers funding of up to 50 percent of eligible project costs, capped at C$500,000 per project. The fund targets sectors that are vital for national defense, emerging technologies and a low-carbon future.

Several companies, including Carbonix, Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF), the Canadian division of Vale (NYSE:VALE) and Wyloo Metals, have already received substantial funding under the CMIF for their pioneering projects aimed at enhancing the extraction and processing of critical minerals.

The budget highlights that Ontario has already earmarked C$1 billion to fortify critical legacy infrastructure, focusing on all-season roads, broadband connectivity and community support systems in the Ring of Fire region.

The province is also committed to supporting various infrastructure projects, such as the Marten Falls Community Access Road Project and the Webequie Supply Road Project, in collaboration with Indigenous partners.

Saskatchewan investing in next generation of miners

Saskatchewan, a notable producer of potash and uranium, is also honing in on its mining sector through a C$100,000 investment to promote careers in the mining and exploration industry.

The initiative, unveiled on March 27 in partnership with the Saskatchewan Mining Association (SMA), aims to equip students with a deeper understanding of the diverse career opportunities available in the province’s mining industry.

In 2023, SMA’s education outreach program provided a wide array of lesson plans and teaching modules to over 7,800 students, 880 community members and 460 teachers across 90 Saskatchewan communities.

‘Saskatchewan is one of the most attractive jurisdictions in the world for mining,’ said Immigration and Career Training Minister Jeremy Harrison. ‘As our footprint in the global mining industry continues to grow, it’s important we build the workforce needed to support this growth. This funding will provide educational opportunities for students to learn about careers in the mining sector and allow them to benefit from the jobs our rapidly growing economy is creating.’

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
0
FacebookTwitterGoogle +Pinterest
previous post
What Was the Highest Price for Uranium? (Updated 2024)
next post
House braces for battle over renewing controversial FISA surveillance tool

Related Posts

Crypto Market Recap: Circle, Klarna and Chime May...

April 5, 2025

NextSource Materials Bolsters Top Management Team for Next...

May 28, 2024

Unlocking a New High-Grade Antimony-Tungsten Structure Adds Potential...

February 25, 2025

Forum Receives Geochemical Results from Ned Uranium Target,...

October 12, 2023

HiPurA® HPA Pilot Plant Early-Stage Commissioning Commenced

June 28, 2024

Grid Battery Metals Announces the Fourth Phase of...

January 11, 2024

Steppe Gold Announces Third Quarter 2023 Financial Results

November 16, 2023

CONNEQT App Launches in USA as Pulse Deliveries...

January 23, 2025

Experts: Battery and Precious Metals Emerging as New...

February 24, 2025

Maiden Copper Exploration Program Intersects Encouraging Mineralisation

May 15, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Fed Watch: Key Bullish Patterns in the S&P 500, Utilities, and Crypto

    • Three Charts to Watch for an “All Clear” Signal

    • Use This Multi-Timeframe MACD Signal for Precision Trades

    • The Unpredictable Stock Market: How to Make Sense of It

    • Crypto Market Recap: New Hampshire Launches First State Crypto Reserve, Trump Stirs Controversy

    • SAGA Metals Extends Claims at the Radar Ti-V-Fe Project –Securing the Entire Titanomagnetite-Bearing Intrusion

    Categories

    • Business (1,181)
    • Investing (2,402)
    • Politics (3,699)
    • Stocks (1,551)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved