Clean Technology Canada

Federal government announces funding to support EV manufacturing supply chain and create jobs

March 26, 2024
By Canadian Manufacturing

Presented by:

YELLOWKNIFE — Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a $714,500 investment in Fortune Minerals Limited (Fortune Minerals) to enhance the production of cobalt sulphate and bismuth ingot products from the company’s planned mine in the Northwest Territories and refinery in Alberta to increase the supply of critical battery metals that are essential to the development of a domestic electric vehicle value chain. This will be achieved through a pilot-scale hydrometallurgical program designed to optimize processing conditions while ensuring that residues from the process are stable for safe disposal.

When completed, the project will also develop new expertise create job opportunities for skilled trades and professional occupations, including Indigenous communities, and introduce a new sustainable technology to other Canadian companies. This investment will help Canada participate directly in the growing market of battery-grade cobalt and other concentrates instead of shipping concentrates overseas for value-added processing.

Funding for this project comes from the Critical Minerals Research, Development and Demonstration (CMRDD) program. The CMRDD aims to advance the commercial readiness of emerging mineral processing unit operations and technologies that will support the development of zero-emission vehicle value chains in Canada by providing raw material inputs for use in batteries and permanent magnets.

“Today’s investment of $714,500 for Fortune Minerals will help to advance the development of dynamic and competitive critical minerals value chains through an innovative new processing technology. This means good jobs for workers, more investment in Canadian innovation and lower emissions across the country — all part of our plan to build a cleaner Canada and a prosperous, sustainable economy that works for everyone,” said Jonathan Wilkinson, Minister of Energy and Natural Resources.

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