Critical Minerals Review – May 2026
The Government of Canada Announces Funding for Mineral Exploration Research in Nunavut
The Honourable Rebecca Chartrand, Minister of Northern and Arctic Affairs and Minister responsible for CanNor, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, and the Honourable Craig Simailak, Government of Nunavut’s Minister of Community Services, announced $2.45 million in joint funding to support the Government of Nunavut’s research in foundational geoscience and critical mineral potential in south and central Baffin Island.
This funding will support work led through Natural Resources Canada’s (NRCan) Canada-Nunavut Geoscience Office (CNGO), including geological fieldwork across south-central Baffin Island, analysis of collected geochemical data using existing artificial intelligence tools, and the publication of results.
The project is expected to generate new geoscientific data on the mineral potential of the Cumberland granite in south-central Baffin Island. These results will help guide future exploration, attract private investment, and contribute to economic development in Nunavut, in line with Canada’s Critical Minerals Strategy.
Canada invests in Battery Innovation Projects in Quebec
Claude Guay, Parliamentary Secretary to the Minister of Energy and Natural Resources — accompanied by Member of Parliament Jacques Ramsay — announced over $11 million in funding for three projects under Natural Resources Canada’s Energy Innovation Program (EIP) – Battery Industry Acceleration Call for Proposals. These investments will support innovation in battery materials and help strengthen Canada’s growing battery and critical minerals value chain, especially in Quebec, which already hosts nearly a quarter of battery firms in Canada.
The funding will support projects led by Nano One Materials Corp., EcoPro Lithium Inc. and NanoXplore.
- Nano One Materials Corp.’s Commercialization of Nano One’s One-Pot Process for Lithium Iron Phosphate Production project will receive $4.3 million to improve and scale up the production of lithium iron phosphate, a key battery material used in many lithium-ion batteries, including those used in electric vehicles and energy storage systems. This investment builds on a $5-million contribution under the EIP that was announced in 2025 to support Nano One’s work at its Candiac facility.
- EcoPro Lithium Inc.’s Scale Up of the Process to Produce Battery-Grade Lithium Metal and Ultra-thin Lithium Anode Foil for Lithium Metal Batteries project will receive $6 million to scale up a new process to produce battery-grade lithium metal and ultra-thin lithium foil used in next-generation batteries. These materials will help batteries store more energy and reduce costs, supporting the development of more affordable electric vehicles.
- NanoXplore’s Made-in-Canada Ultra-High-Power Li-ion 21700 Cylindrical Battery Cells project will receive nearly $700,000 for the prototyping of ultra-high-power-capacity lithium-ion cells. Building on a $2.75-million contribution under the EIP that was announced in 2025, this investment will strengthen domestic battery manufacturing for defence and civilian applications and reduce reliance on foreign suppliers.
Minister Champagne Welcomes Canada Growth Fund Investment to Support the Construction of Nouveau Monde Graphite’s Flagship Matawinie Mine
The Honourable François-Philippe Champagne, Minister of Finance and National Revenue, welcomed a strategic commitment by the Canada Growth Fund to invest approximately US$82 million (C$113 million) in Nouveau Monde Graphite (“NMG”), a Québec-based graphite miner and refiner. This commitment is part of a US$297 million (C$411M) financing package alongside Eni S.p.A., Investissement Québec and public equity financing.
By expanding Canada’s graphite mining and refining capacity, Canada is successfully attracting private investment, creating high paying jobs., and capturing greater economic value at home. This growth leverages Canada’s low emissions electricity advantage to support a competitive, sustainable economy for Canadians.
The investment announced today will support NMG as they build a fully integrated Canadian graphite supply chain, backed by a mine at Saint-Michel-des-Saints (the “Matawinie Mine”) and the continued development of the Bécancour-based refining facility. The Matawinie Mine is expected to become one of the largest graphite mining operation in North America, which will help position NMG as a strategic supplier for the North American graphite supply chain, an essential input for clean technologies, advanced manufacturing, and national security.
Prime Minister Carney Announces First-Ever Canada Investment Summit
The world is changing rapidly. In response, Canada’s new government is focused on what we can control. We are building a stronger economy with an ambitious plan to catalyse $1 trillion in total investment in Canada over the next five years.
Canada has what the world wants. We are a superpower in both clean and conventional energy, with vast deposits of critical minerals. We have free trade deals with countries covering 1.5 billion people and are the most-tax competitive country in the G7 for new business investment. We have one of the world’s most educated workforces, the lowest net debt-to-GDP ratio in the G7, and the fiscal capacity to act decisively. Our government is ensuring that these strengths benefit all Canadians, as we build a Canada for all.
To that end, the Prime Minister, Mark Carney, announced that the first-ever Canada Investment Summit will take place from September 14 to 15, 2026, in Toronto, Ontario. This Summit will convene the world’s largest investors, including top CEOs, entrepreneurs, and prominent global business leaders. The Summit is focused on attracting new investment into Canada to advance Canada’s nation-building projects, create new career opportunities for Canadians, and grow our economy.
The Summit will be hosted by the federal government in partnership with the Canada Pension Plan Investment Board (CPP Investments) and the Public Sector Pension Investment Board (PSP Investments), two of Canada’s largest and most sophisticated institutional investors.
Faster Approvals for Major Projects
Alberta’s government is introducing legislation to approve priority projects critical to the province’s economic future faster.
If passed, Bill 30, the Expedited 120-Day Approvals Act, will establish a 120-day approval time frame to accelerate major project development, reduce delays and improve Alberta’s position as a competitor for global investment. The legislation sets clear criteria, application requirements, approval processes and timelines for proponents, regulators and government. To qualify, projects must align with provincial priorities, be of strategic economic importance and involve a minimum capital investment of $250 million.
To be considered for a qualified designation, project proponents will also be required to complete, or have substantially completed, the environmental impact assessment process and Indigenous consultation. The legislation does not change Alberta’s duty to consult.
Final Agreement Signed for Major Project Reviews
Alberta and Canada have signed the Cooperation Agreement on Environmental and Impact Assessment, completing the process launched last month when both governments reached an agreement-in-principle and released the draft for public comment.
The agreement allows Canada to rely on Alberta’s environmental and regulatory system for projects primarily within provincial jurisdiction. For projects where both federal and provincial assessments are required, Alberta and Canada will work together to avoid duplication by coordinating permitting and jointly reviewing project conditions.
This one-project, one-review approach reduces duplication, improves clarity and provides more predictable timelines for proponents while maintaining strong review standards. Indigenous participation remains essential to major project reviews in Alberta, and this agreement reinforces the importance of meaningful engagement and collaboration throughout the process.
New Uranium Mines Will Power Economic Growth in Saskatchewan
With two new mines advancing toward construction after receiving federal approval, Saskatchewan’s growing uranium sector is creating new jobs and economic opportunities for northern Saskatchewan.
On February 19, 2026, Denison Mines Corp.’s (Denison) was approved to construct its Wheeler River Project by the Canadian Nuclear Safety Commission (CNSC). On March 5, 2026, NexGen Energy Ltd. (NexGen) received CNSC approval to build its Rook I Project. These are the first Canadian uranium mines to be approved for construction since 2004.
Both Wheeler River and Rook I are located in northern Saskatchewan’s Athabasca Basin, which holds the world’s largest high grade uranium reserves. Combined, the projects will create over 1,600 jobs during construction, employ over 700 people during operation, and represent a total estimated investment of $2.8 billion.
Mining Supply Chain Forum Showcases Saskatchewan's Global Leadership
The Government of Saskatchewan hosted the first day of the 18th annual Saskatchewan Mining Supply Chain Forum in Saskatoon. This event is held in partnership with the Saskatchewan Mining Association (SMA) and the Saskatchewan Industrial and Mining Suppliers Association (SIMSA).
The two-day event, which runs April 15 and 16, brings together mining companies and suppliers to build connections and showcase the capabilities of Saskatchewan businesses that support the province’s mining ecosystem. The forum has a wide reach, with many companies participating from across Canada and around the world.
Saskatchewan Minister to Lead Helium Mission to Ottawa
Saskatchewan Energy and Resources Minister Chris Beaudry will lead a delegation to Ottawa to advocate for federal policy changes that support Saskatchewan’s helium industry, encourage private investment, and strengthen Canada’s role as a reliable supplier of helium to global markets.
The mission highlights Saskatchewan’s leadership in responsibly developing and exporting resources that support economic growth at home and help meet global demand.
Treating helium the same as other critical minerals would also help make Saskatchewan the home of Canada’s first helium liquefaction facility. This type of facility is required for most high-value uses of helium and for exporting it to international markets. Building one in Saskatchewan would attract new investment, create jobs, expand export opportunities, and help ensure Canadians have a secure and dependable supply of helium.
Manitoba Government Invests $2.5 Million To Advance New Mining and Critical Mineral Opportunities
The Manitoba government is investing an additional $2.5 million in the Manitoba Mineral Development Fund (MMDF) to generate sustainable economic growth in the mining industry, Business, Mining, Trade and Job Creation Minister Jamie Moses announced.
The Manitoba government established the MMDF through a $20-million investment. The fund is administered by the Manitoba Chambers of Commerce (MCC). MMDF directly supports the Manitoba government’s Securing Our Critical Mineral Future strategy by providing targeted investments that accelerate early mineral exploration activities and development of minerals essential to the low-carbon economy.
Approval Issued for New Work at Touquoy Mine Site
Atlantic Mining Nova Scotia received an industrial approval today, April 10, to process stockpiled ore at the Touquoy gold mine in Moose River, Halifax County.
There are about three million tonnes of unprocessed ore containing gold that were left at the site when operations stopped in 2023. Under the approval, there will not be any new mining or extraction, and all activity must take place within the current disturbed footprint.
The processing is expected to take about 10 to 14 months, and all processed waste will be placed into the existing open pit.