MIL-OSI Translation: Canada announces over $4 million to support critical minerals value chains and create good jobs in Ontario

5
Recommended Sponsor Painted-Moon.com - Buy Original Artwork Directly from the Artist

MIL OSI Translation. Canadian French to English –

Source: Government of Canada 1

February 5, 2024 Kingston, Ontario Natural Resources Canada

Canada is well positioned to lead the way in the responsible, inclusive and sustainable production of critical minerals. These minerals are an important driver of the green and digital economy, and demand for these materials is set to grow considerably. Canada is therefore seizing this opportunity to make judicious investments in critical minerals value chains, thereby supporting the development and deployment of clean energies and technologies.

Mark Gerretsen, Member of Parliament for Kingston and the Islands, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, today announced $4.2 million in funding for Ucore Rare Metals Inc (Ucore). The funds will be used to expand and demonstrate the commercial effectiveness of Ucore’s patent-pending, Canadian-developed rare earth element (REE) separation technology platform under rigorously simulated commercial conditions.

Funded by the Critical Minerals Research, Development and Demonstration Program (CMRDDP), Ucore’s project will help Canada increase its stock of metals essential to the manufacture of electric motors. This is a crucial step in the development of an electric vehicle value chain in Canada.

Thanks to the Ucore project, Canadian concentrates will not be shipped abroad for the separation process, enabling Canada to participate directly in the promising heavy and light REE market. This financing will create employment opportunities in skilled trades and professions, including in aboriginal communities. It’s also important to note that this investment promotes the development of Canadian know-how and the deployment of new, more sustainable technology for the benefit of various Canadian companies. In addition to electric vehicles, REEs are present in wind turbines and various electronic products.

Canada is committed to reducing greenhouse gas emissions and building a cleaner, more prosperous economy. Creating Canadian processing chains and developing our expertise in critical minerals will create good jobs, build more competitive value chains, and encourage investment and economic growth in communities across Canada.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

MIL Translation OSI