Critical minerals are key enablers of clean technologies, like batteries, and clean energy sources, such as wind turbines and solar panels, which are essential to achieving a net-zero-emissions future and fighting climate change. Canada is already a leading supplier of sustainably sourced minerals and materials and is committed to making strategic investments to reinforce its position and drive job creation and economic growth in every region of the country.
That is why, today, the Minister of Energy and Natural Resources, the Honourable Jonathan Wilkinson, announced the launch of the Call for Proposals (CFP) of the Critical Minerals Infrastructure Fund (CMIF). The CMIF will address key infrastructure gaps to enable sustainable critical minerals production and to connect resources to markets. With up to $1.5 billion available over seven years, the fund will support clean energy and electrification initiatives as well as transportation and infrastructure projects that will enable the sustainable development of Canada's critical minerals.
This CFP will be the first of several under CMIF, with up to $300 million in contribution funding available under two streams: the Pre-construction and Project Development Stream and the Infrastructure Deployment Stream. Through these streams, applicants can seek access to up to $50 million per project for nongovernmental applicants and up to $100 million per project for provincial and territorial governments investing in public projects.
Information on funding opportunities and the applicant guide are now available online. Applications for this first CFP must be submitted online by February 29, 2024, at 11:59 p.m. PST.
The CMIF is a key component of the Canadian Critical Minerals Strategy and will complement other clean energy and transportation support that is already benefiting the critical minerals sector. About half of mining projects identified in Canada's Major Projects Inventory Report process or extract some form of critical minerals, worth $60.9B in potential investment. By investing in the foundational and enabling infrastructure needed to develop critical minerals projects, Canada is helping to realize immense economic opportunities all along the value chain, from exploration and sustainable extraction to processing, advanced manufacturing and recycling, while simultaneously supporting the development of clean technologies essential to achieve a global net-zero-emissions economy.
