Ontario invests $7M to secure critical minerals, combat U.S. tariffs

Ontario's government is injecting over $7 million into its Critical Minerals Innovation Fund (CMIF), launching a new intake to boost domestic exploration, mining, and processing of critical minerals and insulate from US tariffs. Applications are open July 23-October 1. The fund aims to accelerate Ontario-made technology development in deep exploration, mineral recovery, the battery supply chain, and mining innovation.

Minister of Energy and Mines Stephen Lecce stated, "With global demand soaring and new U.S. tariffs targeting Canada, Ontario is taking action. Through CMIF, we are putting Ontario first and building a made-in-Canada supply chain with good-paying jobs here at home."

This investment builds on $20 million already invested since 2022. Ontario Minister of Finance Peter Bethlenfalvy highlighted the province's goal, stating, "Ontario is doubling down to protect our province from economic uncertainty and secure our future as global leaders in critical minerals."

Priya Tandon, president of the Ontario Mining Association, stated: "We welcome the government’s commitment to accelerate the development of made-in-Ontario technologies for the critical mineral supply chain, including upstream investments in mining at depth, recovery of minerals from legacy sites, value-added processing and recycling,”

She added: “Our sector takes pride in being a leader in safety, sustainability and innovation—adopting clean technologies at a pace well beyond the industry norm. We are excited to continue strengthening our role as innovators and responsible producers of essential minerals that support a greener and more resilient future both at home and abroad."

Ontario’s strategy prioritizes building a complete supply chain within the province, from mining to refining, all powered by Ontario workers. Transfer Payment Ontario receives all applications. CMIF covers up to 50% of eligible project costs, contributing as much as $500,000 per project. The Ontario government is also directing $500 million into a new Critical Minerals Processing Fund and providing nearly $3.1 billion through loans, guarantees, grants, and scholarships to support Indigenous participation.