Canada Funds Critical Mineral Initiatives

Canada has announced a significant investment of CA$4.9 million into the Saskatchewan Research Council (SRC) to advance the separation and commercialization of rare-earth elements (REEs), crucial for various high-tech applications including electric vehicles and wind turbines. This funding is a part of a broader strategy to reduce dependency on foreign rare earth supplies and to foster domestic capabilities in this critical sector.

The investment aims to enhance SRC's already established rare earth processing facilities, enabling the separation of Dysprosium and Terbium, which are essential for producing high-grade permanent magnets. These developments are expected to not only bolster Canada's position in the global market for rare earths but also to secure a more sustainable and autonomous supply chain for these critical resources.

This initiative is part of Canada's Critical Minerals Strategy, which seeks to ensure the country becomes a leading global supplier of critical minerals necessary for the green and digital economies. The strategy is supported by collaborations across federal departments to drive strategic investments, with the goal of supporting economic growth that benefits all sectors and regions across the country​ (Saskatchewan Research Council)​​ (Government of Saskatchewan)​​ (Government of Saskatchewan)​​ (Canada.ca)​.