Six Canadian mining and resource companies scaling up technologies to extract or process battery minerals and rare earth elements for the electric vehicle market will share $14.1 million in new critical minerals funding from the Canadian government.
Natural Resources Minister Jonathan Wilkinson announced investments from the ministry’s pilot project and demonstration fund at the Prospectors & Developers Association of Canada convention in Toronto March 7.
“Canada can be a leader in this transition, or we can let it happen to us,” he told reporters on the convention floor. Calgary-based E3 Lithium Ltd., will get $3.5 million of the funds to test its lithium extraction technology for a future commercial plant, while Prairie Lithium Corp., based in neighbouring Saskatchewan will get $1.1 million for similar work.
Ottawa has portioned off $5 million to assist Vancouver-based Search Minerals Inc., test a new hydrometallurgical process designed to isolate rare earth oxides. Quebec-based Geomega Resources, meantime, will receive $3 million for research that could help it establish Canada’s first magnet scrap recycling facility.
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