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Ontario provides additional $15M in funding for critical minerals projects

Ontario provides additional $15M in funding for critical minerals projects

SUDBURY, ONT. — The Ontario government is investing an additional $15 million over three years to expand the Critical Minerals Innovation Fund (CMIF).

The funding was part of the 2024 Budget: Building a Better Ontario and will strengthen Ontario’s mining industry by assisting with research, development and commercialization of innovative technologies, processes and solutions for the critical minerals supply chain, a release reads.

The CMIF investment aims to encourage more private-public collaboration and partnerships with Indigenous communities and businesses to develop new technologies, drive economic growth and create job opportunities in Ontario’s mining sector.

The $15 million commitment is part of the government’s plan to build an integrated supply chain that connects the mineral wealth in the north with the manufacturing might of the south, the release adds.

The CMIF is open to companies and partnerships between companies and Indigenous communities, academics or non-profit organizations. Applications are being accepted from May 22 to July 17.

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