Province says north will benefit from new critical minerals processing fund

-Reported by Richard Coffin

The Ontario Government is creating a new $500 million Critical Minerals Processing Fund, and the north is expected to benefit.  

That from Vic Fedeli, Nipissing MPP and Ontario’s Minister of Economic Development, Job Creation and Trade.  

He says it also helps protect the province and its workers from the impact of tariffs and economic uncertainty.   

“Our government will continue to lay the path for stability and unlock new opportunities for Ontario workers and businesses,” he says. “Particularly in Indigenous communities and northern hubs like Thunder Bay, Sault Ste. Marie, North Bay, Sudbury and Timmins.  From mine to market, it will all be done in Ontario, by Ontario workers.  That’s how we protect good paying jobs and drive prosperity for families.” 

Stephen Lecce, Energy and Mines Minister, says sending resources abroad to be processed, only to buy them back at a premium doesn’t create a self-sustaining economy.

“We want to do it all here at home.  Jobs for Canadians,” he says. “Our government is putting half a billion dollars on the table, a landmark investment, that will allow Canada and Ontario to be the clean energy superpower that I know we aspire for.”  

Lecce also reiterated the importance of consultation with Indigenous and local communities.   

“We’re committed to doing so,” he says. “As we build out the regulations, our action plan, the tactics of how we do this, it will be borne with a serious, meaningful consultation with both the local community and certainly Indigenous communities involved.”  

The funding announced Thursday was included in the May 15 provincial budget.