Extraction

Wide aerial view of a large mine site with winding haul roads at sunset over rolling hills.

In an often-volatile critical minerals market, Canada is calmly clearing the path for profitable long-term projects

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As global critical minerals supply chains come under greater demand – and increased scrutiny, Canada represents a uniquely low-risk destination for long-term, sustainable extraction.

In contrast to the economic and political uncertainty in other markets, Canada offers stability. The government and robust legal frameworks provide predictability for investors and make Canada a trusted partner for business growth.

Canada is not only home to deep critical minerals reserves, but it also has strategies in place to lower investment risk, with numerous incentives and policies to help get new projects over the line.

total value of Canadian minerals extracted in 2023

Source: Government of Canada

Close-up of blue-green copper-bearing rocks piled together.

Saskatchewan

McIlvenna Bay Foran Copper Mine Project

Located in one of Canada's richest mineral belts, supplying copper and zinc for clean energy, advanced manufacturing and modern infrastructure.

Potential to produce copper and zinc ore concentrates (containing gold and silver) to a total production rate of up to 4,200 tonnes per day.

Project will strengthen Canada's position as a global supplier of critical minerals.

It will be one of the lowest-emission operations of its kind.

Close-up of rough ore rocks showing oxidized mineral colors and greenish deposits.

British Columbia

Red Chris Mine expansion

Expansion will extend the mine's lifespan by over a decade and increase Canada's annual copper production by over 15%.

It will increase ore processing at the mine to nearly 13 million tonnes per year.

Greenhouse gas emissions from the facility will be reduced by over 70%.

Project will be developed in close collaboration with the Tahltan Nation, and it presents opportunities for a new conservation area the size of Greece.

Close-up of gray rock pieces with shiny, dark mineral veins in sunlight.

Québec

Nouveau Monde Graphite’s Matawinie Mine

An open-pit graphite mine that will provide critical materials for defence applications and battery supply chains.

Scoped to attract $1.8 billion in investment.

Project will integrate with Nouveau Monde Graphite’s planned Bécancour Battery Material Plant.

Close-up of bright turquoise mineral chunks with brownish crust and granular texture.

Ontario

Canada Nickel’s Crawford Project

The project will produce high-quality, low-carbon nickel essential for batteries and green steel, located in the world’s second-largest nickel reserve.

It is expected to attract $5 billion in investment.

Projected emissions are 90% below the global average with the potential for a net-negative carbon footprint.

Saskatchewan

McIlvenna Bay Foran Copper Mine Project

Located in one of Canada's richest mineral belts, supplying copper and zinc for clean energy, advanced manufacturing and modern infrastructure.

Potential to produce copper and zinc ore concentrates (containing gold and silver) to a total production rate of up to 4,200 tonnes per day.

Project will strengthen Canada's position as a global supplier of critical minerals.

It will be one of the lowest-emission operations of its kind.

British Columbia

Red Chris Mine expansion

Expansion will extend the mine's lifespan by over a decade and increase Canada's annual copper production by over 15%.

It will increase ore processing at the mine to nearly 13 million tonnes per year.

Greenhouse gas emissions from the facility will be reduced by over 70%.

Project will be developed in close collaboration with the Tahltan Nation, and it presents opportunities for a new conservation area the size of Greece.

Québec

Nouveau Monde Graphite’s Matawinie Mine

An open-pit graphite mine that will provide critical materials for defence applications and battery supply chains.

Scoped to attract $1.8 billion in investment.

Project will integrate with Nouveau Monde Graphite’s planned Bécancour Battery Material Plant.

Ontario

Canada Nickel’s Crawford Project

The project will produce high-quality, low-carbon nickel essential for batteries and green steel, located in the world’s second-largest nickel reserve.

It is expected to attract $5 billion in investment.

Projected emissions are 90% below the global average with the potential for a net-negative carbon footprint.

Macro view of a jagged cluster of black, metallic-looking crystals.

New Brunswick

Northcliff Resources’ Sisson Mine

The mine will produce tungsten, essential for high-strength steel production, defence and industrial applications.

Project has the potential to make Canada a secure supplier for domestic and international tungsten industries.

Canada’s federal and provincial governments are actively reducing investment risk for major critical minerals projects, with new processes put in place to expediate large-scale projects.

The First and Last Mile Fund absorbs the Critical Minerals Infrastructure Fund (CMIF) and provides up to $1.5 billion by 2030 to support development upstream (mine-level) and midstream (early processing) segments of the value chain. The fund enables the construction of infrastructure, like roads and clean power, to help get near-term projects into production faster.

The Government of Canada is also providing financial instruments to ensure that capital-intensive, long-term projects can start earlier and deliver returns more quickly.

Key measures for lowering investment risk in Canada’s critical minerals include:

tax credits and incentives for exploration, development and processing

targeted investment funds

public-private partnerships and co-investment opportunities

15% Mineral Exploration Tax Credit (METC)

A non-refundable tax credit for exploration companies to raise equity funds by passing tax credits on eligible expenses onto investors.

Aerial view of a gravel quarry with haul roads and rock faces, bordered by colorful autumn forest and lakes.

$110 million to support mineral exploration investment

METC is expected to provide this sum, following an extension to March 2027.

30% Critical Mineral Exploration Tax Credit (CMETC)

A new tax credit dedicated to supporting exploration expenditures of 27 key critical minerals.

These financial mechanisms are supported by additional, focused initiatives:

Clean Growth Action Plan:

Includes initiatives to improve federal-permitting timelines.

Northern Regulatory Initiative:

A dedicated $3.75 million fund for activities that support clearer, more trusted and more functional regulatory regimes in Canada’s three northern territories.

Aerial view of a quarry processing area with stockpiles, equipment, and ponds surrounded by dense forest.

NRCan’s Critical Minerals Concierge Service:

Aims to support partners in navigating federal programs and regulatory frameworks, with over 150 partners and stakeholders assisted to date.

#1 in potash production

#2 in uranium production

Top-5 global producer of palladium, cobalt, aluminum and platinum

Significant producer of iron ore and copper

60 minerals and metals produced from almost 200 mines

Ongoing advanced mineral projects for rare earth elements, lithium and graphite

province of Saskatchewan’s worldwide rank for attractiveness in mining investment, with Newfoundland and Labrador ranking #6 and Alberta #9

Source: Fraser Institute

Canada

Australia

Brazil

Switzerland

United Kingdom

United States

Other (Germany, Poland, South Africa)

Canada

Australia

Brazil

Switzerland

United Kingdom

United States

Other (Germany, Poland, South Africa)

Canada has announced new measures to support the future of the country’s critical minerals industry.

The G7’s Canada-led Critical Minerals Production Alliance announced a first round of 26 new investments, partnerships and measures to accelerate and unlock $6.4 billion of critical minerals projects.

This is designed to mobilize both public and private capital, specifically targeting the rapid advancement of critical minerals like graphite, rare earth elements and scandium. The strategy includes actively building a resilient network by securing vital offtake agreements and co-investments with nine key Canada-allied nations.

The government also introduced initiatives to accelerate the development of Canada’s critical minerals sector, including:

A new $2-billion Critical Minerals Sovereign Fund, offering equity stakes, loan guarantees and offtake agreements, to ensure promising projects have the capital they need to get built.

An investment of $443 million under the Defence Industrial Strategy to develop innovative technologies, supporting joint investments with allies in Canadian critical minerals projects.

Expanding the coverage and eligibility of key tax incentives, like the Clean Technology Manufacturing Investment Tax Credit and the Critical Minerals Exploration Tax Credit, to help de-risk projects and move them into production faster.

Skilled workforce and strong labour standards

Canada's long-established extraction industry supports a large, skilled workforce. It is protected by strong labour standards that assure safety and integrity for companies exploring and expanding their operations.

At a time of global skills shortages, some of the top industry talent already calls Canada home.

Fast-track access to global talent

The One Canadian Economy Act removes federal barriers to interprovincial trade and labour mobility, allowing talent to rapidly relocate to sites and projects.

Canada's Global Skills Strategy enables employers to fast-track international talent with priority processing for work permits.

Specialized workers and innovative companies can have work permits processed in as little as two weeks.

Commitment to communities

Any project developments must advance the Government of Canada's commitment to reconciliation with Indigenous Peoples.

More than 500 relationship agreements are in place that establish terms for how companies and communities will work together through frameworks for cooperation and collaboration.

Agreements include meaningful consultation; early and ongoing engagement; investments in capacity support; environmental stewardship; community safety; and economic opportunities for Indigenous Peoples.

Canada's mining industry is the country's largest private-sector industrial employer of Indigenous Peoples, on a proportional basis.

Shared prosperity

Most producing mines and exploration projects are located within 200 kilometres of an Indigenous community.

More than 17,300 Indigenous Peoples are employed in the minerals and metals sector.

At least 200 Indigenous businesses supply the extractive industry in Canada with additional goods and services.

Nations Royalty — majority owned by the Nisga'a Nation — is the first majority Indigenous-owned mining company in the world.

of the upstream mining industry’s labour force are Indigenous People

Source: Government of Canada

Canada has a well-established mining supply and services (MSS) industry, implementing leading-edge technologies.

Highly educated MSS talent and research institutions across Canada’s extensive mining industry provide opportunities to pilot and scale extraction innovations.

Examples of critical mineral extraction innovations include:

Ore sorting technologies:

Advanced ore sorting increases operational efficiency whilst cutting transportation and processing costs.

Rio Tinto is pioneering direct-at-source sorting at its Havre-Saint-Pierre mine in Quebec, demonstrating Canada's role as a global testbed for mining innovation.

Artificial intelligence (AI):

AI-powered mineral discovery and operations deliver increased efficiency, reduced costs, higher productivity and improved environmental performance.

Canada is positioned as a tech hub, driven by educated talent and an entrepreneurial business environment, making it ideal for integrating software innovation with critical mineral exploration and extraction.

GeologicAI, a Canadian leader in AI-driven mineral exploration, has secured investment from industry giants BHP and Rio Tinto to advance its mineral discovery technologies.

Government partnerships:

Canada supports innovation in critical minerals extraction through partnerships across provincial and territory borders.

The Government of Canada and Northwest Territories are collaborating on a geoscience research initiative, leveraging AI and digital scanning to develop a Canadian Digital Core Library.

This centralized digital platform reduces exploration risk and enables new critical mineral development opportunities.