Canada Highlights Significant Funding to Unlock More Critical Minerals Development in the Yukon

WHITEHORSE, YT , Sept. 21, 2024 /CNW/ – Investments in critical minerals infrastructure are essential to enable Canada to seize the generational opportunity of a low-carbon economy and capitalize on our rich mineral resources. Canada is well positioned to be a global leader and first-class producer of a wide variety of critical minerals that are essential to power the clean economy, and, in turn, create good jobs and support economic opportunities across critical mineral value chains — from upstream exploration and extraction to downstream processing, manufacturing and recycling.

Yesterday, Dr. Brendan Hanley, Member of Parliament for the Yukon, on behalf of the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, highlighted an important announcement of up to $40 million in funding, pending final due diligence from Natural Resources Canada, for critical minerals infrastructure developments in the Yukon. This funding would be provided through the Critical Minerals Infrastructure Fund (CMIF).

The Government of Yukon is seeking to undertake pre-feasibility activities to advance a 765-kilometre, high-voltage transmission line network that would connect the Yukon electrical grid to the North American grid in B.C. This regional project has proposed energy infrastructure located in two priority regions for critical minerals development — Yukon’s Cassiar and Tanana regions, and B.C.’s Golden Triangle. The transmission line could support projects producing critical minerals such as cobalt, copper, molybdenum, nickel, platinum group metals, tungsten and zinc in the Yukon and northern B.C.

The Critical Minerals Infrastructure Fund is a key program under the Canadian Critical Minerals Strategy to address infrastructure gaps and enable sustainable critical minerals production and connect resources to markets through various clean energy, electrification and transportation infrastructure projects. Future funding decisions for projects under the CMIF to further critical minerals infrastructure development are also expected in the coming months.

This project is the result of close collaboration under the Yukon Regional Energy and Resource Tables and is key to facilitating critical minerals development in the Yukon.

Critical minerals are essential components in products used for clean energy technologies such as electric vehicles, electrical transmission lines and batteries. The Yukon’s mining sectors provide many of the building blocks of clean technologies needed to fight climate change and build a clean economy. Across the country, clean energy solutions are providing enormous economic opportunity for Canada.

Quotes

“I am pleased to highlight that the Yukon is home to the third conditionally approved project under the Canadian Critical Minerals Strategy’s flagship program, the Critical Minerals Infrastructure Fund. Developing the necessary infrastructure to access and transport our rich critical mineral resources is a key element in our ability to seize the generational opportunity before us. Connecting the Yukon’s grid to northern BC will provide increased opportunities for the Yukon’s future.”

Dr. Brendan Hanley

Member of Parliament for the Yukon

“The Grid Connect Project is more than an energy initiative: it presents a transformative opportunity for all Yukoners. By delivering clean, affordable and reliable clean energy, this project will not only power our homes but also drive economic and social growth. I thank our partners in British Columbia and the federal government for their collaboration on this important project, which will positively impact our northern communities. This is a proud milestone for our government on the path toward a more sustainable energy future.”

The Honourable Ranj Pillai

Premier of the Yukon

“This project will connect Canada’s two most western jurisdictions, helping bring the Yukon on to the North American power grid. It marks a significant step in our shared journey to build a more connected and resilient energy landscape for Yukoners while reducing greenhouse gas emissions. I extend my deepest thanks to everyone whose hard work and determination made this vision a reality. I look forward to seeing how it will enhance clean energy in the Yukon, help protect our incredible natural landscapes and fuel new opportunities for economic growth.”

The Honourable John Streicker

Yukon’s Minister of Energy, Mines and Resources

Quick Facts

Canada has developed its own critical minerals strategy with the aim of advancing the development of these resources and related value chains to drive the transition to a low-carbon economy and support advanced technology and manufacturing.
The Canadian Critical Minerals Strategy addresses five core objectives:
- supporting economic growth, competitiveness and job creation;
- promoting climate action and strong environmental management;
- enhancing global security and partnerships with allies;
- advancing reconciliation with Indigenous peoples; and
- fostering diverse and inclusive workforces and communities.
Canada’s whole-of-government approach to critical mineral development is collaborative, forward-looking, iterative, adaptive and long-term. The initiatives presented in the Strategy will be implemented and refined in collaboration with provincial, territorial, Indigenous, industry and other Canadian and international partners.
The CMIF is a key program under the Strategy to support enabling clean energy and transportation infrastructure projects necessary to increase Canada’s supply of responsibly sourced critical minerals.
The CMIF supports strategic priorities such as decarbonizing industrial mining operations, strengthening supply chains through transportation infrastructure and advancing economic reconciliation by supporting the participation of Indigenous Peoples in infrastructure and critical minerals projects.
In addition, the federal government is helping to develop Canada’s abundant critical minerals through NRCan’s Regional Energy and Resource Tables. These regional tables are joint partnerships with individual provinces and territories — in collaboration with Indigenous partners and with the input of key stakeholders — to identify and accelerate shared economic priorities for a low-carbon future in the energy and resource sectors.