Two mining exploration camps are pictured in the proposed Ring of Fire development area, approximately 500 kilometres northeast of Thunder Bay, Ontario. The Ring of Fire region in Northern Ontario is one of many projects that will look for funding from Ottawa as part of CMIF.Ottawa is finally getting ready to accept applications for a $1.5-billion infrastructure fund to support critical minerals mines, with stakeholders in Ontario’s Ring of Fire hoping they will be among the recipients.
Companies can apply for up to $50-million in funding, while provincial and territorial governments can request up to $100-million for public projects. Moreover, given the narrative the government espouses about how “we need to capture this generational opportunity in critical minerals” and better compete with the United States, which is spending hundreds of billions through the Inflation Reduction Act, the ability to follow through is key, Ms. Koutsavlis said.
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