Ontario’s Minister of Mines Unveils $15M Fund in Sudbury Tour

UPDATE: Ontario’s Minister of Mines, George Pirie, just announced a pivotal investment during his tour of Sudbury, revealing the continuation of the $15 million Critical Mineral Innovation Fund. This funding, reaffirmed in the 2024 budget, is set to transform the mining landscape in Northern Ontario, emphasizing the region’s potential as a global leader in critical minerals.

During his visit to Dynamic Earth on Monday, Pirie stated, “We have everything the world needs in northern Ontario, and this is our time to take advantage of a generational opportunity.” His remarks underscore the urgency to leverage local resources in areas like Sudbury, Timmins, and Thunder Bay, inviting collaboration across the mining sector.

The Critical Mineral Innovation Fund, first introduced in 2022 as part of the province’s strategy to tackle supply chain challenges, aims to bolster the mining industry’s sustainability efforts. In a highlight of the tour, Pirie spotlighted two significant local beneficiaries: Vale and the Mining Innovation Rehabilitation and Applied Research Corporation (MIRARCO). Vale has been awarded $500,000 to partner with MIRARCO, focusing on enhancing sustainability practices.

Glen Watson, senior sustainability specialist at Vale, expressed enthusiasm for the partnership, stating, “The fund has allowed us to work with an excellent research facility right in our backyard, looking at waste materials as a resource instead of a liability.” This initiative not only funds critical research but also actively engages the industry in sustainable practices.

Nadia Mykytczuk, CEO of MIRARCO, emphasized the importance of addressing the rising demand for critical minerals, saying, “The biggest challenge is putting pressure on the mining industry while they seek new tools for sourcing materials sustainably.” She highlighted the innovative approach of extracting critical minerals from waste materials that have been untouched for over a century.

As the situation develops, Pirie is set to address the Federation of Northern Ontario Municipalities Conference, where further insights into the province’s mining strategies will be shared.

This announcement is not just a financial commitment; it signals a significant shift towards sustainable mining practices in Ontario, with the potential for widespread economic benefits.

Stay tuned for more updates on this ongoing story as Northern Ontario positions itself at the forefront of the critical minerals revolution. Download the CTV News app now for breaking news alerts and more updates delivered directly to your inbox.