American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Investing

Ontario and Saskatchewan Ramp Up Mining Sector Investments

by admin April 6, 2024
April 6, 2024
Ontario and Saskatchewan Ramp Up Mining Sector Investments

The Canadian provinces of Ontario and Saskatchewan are funnelling substantial funds into their mining sectors to bolster critical minerals infrastructure and cultivate the next generation of miners.

The investments are poised to revitalize key areas of the provinces’ economies and enhance their global competitiveness.

In its 2024 budget, Ontario announced plans to inject C$15 million into the Critical Minerals Innovation Fund (CMIF) to foster research and development in the critical minerals sector. The investment will be spread across three years, and will help boost research, development and commercialization of forward-thinking technologies.

Launched in late 2022, the CMIF offers funding of up to 50 percent of eligible project costs, capped at C$500,000 per project. The fund targets sectors that are vital for national defense, emerging technologies and a low-carbon future.

Several companies, including Carbonix, Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF), the Canadian division of Vale (NYSE:VALE) and Wyloo Metals, have already received substantial funding under the CMIF for their pioneering projects aimed at enhancing the extraction and processing of critical minerals.

The budget highlights that Ontario has already earmarked C$1 billion to fortify critical legacy infrastructure, focusing on all-season roads, broadband connectivity and community support systems in the Ring of Fire region.

The province is also committed to supporting various infrastructure projects, such as the Marten Falls Community Access Road Project and the Webequie Supply Road Project, in collaboration with Indigenous partners.

Saskatchewan investing in next generation of miners

Saskatchewan, a notable producer of potash and uranium, is also honing in on its mining sector through a C$100,000 investment to promote careers in the mining and exploration industry.

The initiative, unveiled on March 27 in partnership with the Saskatchewan Mining Association (SMA), aims to equip students with a deeper understanding of the diverse career opportunities available in the province’s mining industry.

In 2023, SMA’s education outreach program provided a wide array of lesson plans and teaching modules to over 7,800 students, 880 community members and 460 teachers across 90 Saskatchewan communities.

‘Saskatchewan is one of the most attractive jurisdictions in the world for mining,’ said Immigration and Career Training Minister Jeremy Harrison. ‘As our footprint in the global mining industry continues to grow, it’s important we build the workforce needed to support this growth. This funding will provide educational opportunities for students to learn about careers in the mining sector and allow them to benefit from the jobs our rapidly growing economy is creating.’

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterGoogle +Pinterest
previous post
How to Invest in Phosphate (Updated 2024)
next post
NEO Battery Materials

Related Posts

Twilio stock price forecast: technicals point to a...

February 13, 2025

Rolls-Royce and GE Aviation stocks reversed: is the...

November 20, 2024

Successful Maiden Dosing of TRP-8803 (IV-Infused Psilocin) Completed...

July 2, 2024

Breakthrough Alternative High Purity Alumina (HPA) Metallurgy Route...

March 3, 2024

SoFi stock price technical analysis points to a...

May 15, 2025

IAMGOLD and Sumitomo’s Côté Gold Mine Reaches Commercial...

August 8, 2024

Shopify stock risky pattern points to a crash...

August 6, 2025

Red Pine Says Former CEO Manipulated Over 500...

May 14, 2024

Rivian stock price is at crossroads, Nov. 9...

October 24, 2024

Odds of Solana price soaring to an all-time...

May 15, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved