The Ontario government is increasing funding for the Ontario Junior Exploration Program (OJEP) to help more companies find critical minerals such as nickel and cobalt, which are necessary to support the growing supply chain for electric vehicles and create jobs for northern and Indigenous communities.

The funding was announced as part of the 2023 Budget: Building a Strong Ontario and includes an additional $6 million over the next two years for this successful program, bringing the government’s total investment in OJEP to $35 million.

Launched in 2021, OJEP helps junior mining companies finance early exploration projects by covering eligible costs for critical and precious mineral exploration and development. So far, 48 junior mining companies have received funding and in turn, they have invested an additional $17.5 million in these projects.

The province has also invested $5 million in the Critical Minerals Innovation Fund, which supports Ontario-based companies that are leading the development of new mining technologies focused on building the critical minerals supply chain, bringing Ontario’s total critical minerals investment to $40 million.