The federal government said it will invest up to $400 million to support the expansion of Teck Resources’ smelting and refining complex in Trail, B.C.
The announcement Tuesday is the first under the Canada Critical Mineral Accelerator, a Natural Resources Canada program set up last year to speed up development of minerals it says are needed for economic sovereignty, national security and the energy transition.
The agreement could see the Canada Growth Fund, a federal arm’s-length cleantech investment vehicle, make an “equity-like investment” of up to $400 million directly into Teck’s facility in Trail, Natural Resources Canada said in a release.
“Canada has what the world wants, and we are moving decisively to get projects built faster,” Energy and Natural Resources Minister Tim Hodgson said.
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Germanium is used in fibre optic, infrared and semicondicutor technology, while antimony is crucial for flame retardants, batteries and alloys. Gallium is key for semiconductors used in telecommunications, radar and electronics.
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At Tuesday’s press conference, the federal government highlighted the geopolitical benefits of strategic mineral extraction and supply.
“We are facing a trade war we did not ask for, the most volatile geopolitics since the end of World War II, which has led to the biggest energy crisis in modern history, technological change at a pace not seen in decades, mainly due to AI, and an accelerating clean energy transition,” Hodgson said.
I can’t help but think we’re preparing for a war with the Armed forces hiring like mad and now federal investments into Cominco. I hate this timeline so much.
I mean… consider what’s gonna happen as the water shortages and crop failures in the US start. I doubt they’re gonna lay flat and suffer / die. I think they’ll come for our resources and it’s probably gonna be a matter of whether through negotiation or aggression. What puts us in one or the other timeline would be whether we present the risk of significant pain to them.
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