The Ontario government has announced the official launch of the $500 million critical minerals processing fund (CMPF), which will strategically support projects aiming to accelerate critical minerals processing capacity and fortify domestic supply chains in the province.
"As global demand for critical minerals continues to rise, the Critical Minerals Processing Fund will help Ontario deliver as a trusted supplier,” said Bill Rosenberg, member of provincial Parliament for Algoma–Manitoulin, in a news release.
“As global demand for critical minerals rises across leading industries, our government is meeting the moment by increasing Ontario’s domestic processing capacity,” added Vic Fedeli, Ontario’s minister of economic development, job creation, and trade.
“We are finally ending the ripping and shipping of Canada's vast resources by stepping up with a plan to build mines faster and expand domestic processing,” said Stephen Lecce, Ontario’s minister of energy and mines.
The provincial government noted that it first announced the CMPF – to be delivered by Invest Ontario, the province’s investment attraction agency – in its 2025 budget.
“A strong and reliable critical minerals supply chain is essential to building a more resilient economy.” “The Critical Minerals Processing Fund will enable us to support high-impact projects that deliver meaningful strategic and economic benefits for Ontario,” said Khawar Nasim, Invest Ontario’s chief executive officer.
According to the news release, with a critical minerals advantage, the Ontario government can help grow the province’s defence, technology, electric vehicle (EV) and battery manufacturing, aerospace and advanced manufacturing, and other strategic sectors by providing secure and reliable access to responsibly sourced materials.
Fund’s goals
“This investment reinforces what we have long known in Greater Sudbury: Ontario’s economic future runs through the North,” said Paul Lefebvre, mayor of Greater Sudbury, in Ontario’s news release. “The Critical Minerals Processing Fund will help ensure more value-added processing happens here at home, strengthening our mining ecosystem.”
The Ontario government explained that the CMPF seeks to:
- Ensure that Ontario workers process and refine in Ontario critical minerals mined in Ontario
- Help existing mineral processing facilities maximize their production
- Support the construction of new operations
- Expand production capacity
- Equip local manufacturers with the necessary resources to adapt amid US tariffs
- Create new well-paying jobs for the province’s workers
“This is about protecting Ontario workers by ensuring 'Made in Canada' is stamped on the minerals we process, creating thousands of good-paying jobs right here at home,” Lecce said. “We will continue to lead the clean energy economy by unapologetically opening new markets for the most ethically sourced resources on Earth.”
The provincial government shared that the CMPF broadly aims to:
- Advance its plan to protect Ontario
- Increase the province’s manufacturing competitiveness and resiliency
- Build a self-reliant and attractive economy for growth and investment
- Help the economy meet rising domestic and international demand for critical mineral resources
- Complement its efforts to unlock the economic potential of the provincial mineral resources sector in the Ring of Fire and across Northern Ontario
- Position the province as a global leader
“Through the Critical Minerals Processing Fund, we are building a complete, made-in-Ontario critical minerals supply chain that will create good-paying jobs for workers, strengthen the economy and reinforce our province’s position as a global leader in this critical sector,” Fedeli said.