Federal government invests in Ont.’s EV mfg. supply chain
February 5, 2024
By Canadian Manufacturing
KINGSTON — On Feb. 5, Mark Gerretsen, MP for Kingston and the Islands, on behalf of Jonathan Wilkinson, Minister of Energy and Natural Resources, announced a $4.2-million investment to Ucore Rare Metals Inc. (Ucore). This investment will help scale up and demonstrate the commercial efficacy of Ucore’s pending patent and Canadian-developed rare earth element separation technology platform under rigorously simulated commercial conditions.
Funded through the Critical Minerals Research, Development and Demonstration (CMRDD) program, Ucore’s project will support Canada in increasing its metals that are essential to the development of electric vehicle motors. This is a critical step in the development of a domestic electric vehicle value chain.
Instead of shipping Canada’s concentrates overseas for foreign separation, Ucore’s project will support Canada’s direct participation in the growing market of heavy and light rare earth elements. This funding will also provide employment opportunities for skilled trades and professional occupations, including Indigenous communities.
Importantly, the investment supports the development of Canadian expertise and deploys a new, more sustainable technology to the benefit of other domestic companies. In addition to electric vehicles, rare earth elements are also required for wind turbines and a variety of electronics.
“Critical minerals like rare earth elements are an integral part of many clean technologies and energy sources. Demand for these resources will only grow. That is why we are taking action to build resilient and secure supply chains that provide the materials we need and the good jobs Canadian workers deserve right here in Canada. Investments like today’s help to support these goals and will help us to build a prosperous and sustainable low-carbon economy that works for everyone,” said Jonathan Wilkinson, Minister of Energy and Natural Resources.
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