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Canada will accelerate the advancement of a key mineral project valued at $4.56 billion.
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Release time：2025-11-07
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The statement was released following the two-day G7 Energy and Environment Ministers' Meeting held in Toronto.
According to Energy and Natural Resources Minister Tim Hodgson, Canada will accelerate the development of key mineral projects worth CAD 6.4 billion (US$4.56 billion), as part of the Critical Minerals Production Alliance. These projects will be advanced through 26 new investments and collaborative initiatives. The announcement regarding Canada’s critical minerals sector was made following the two-day G7 Energy and Environment Ministers’ Meeting held in Toronto. Hodgson emphasized that Canada, together with its G7 partners, will mobilize both public and private capital to speed up production of graphite, rare earth elements, and scandium. As part of the alliance, Canada has already signed off-take agreements for scandium and graphite with Australia’s mining giant Rio Tinto Group and Nouveau Monde Graphite, a Quebec-based company. "Canada is moving swiftly to secure the critical mineral resources needed to power our clean energy future, advanced manufacturing, and national defense," Hodgson stated. "Through the Critical Minerals Production Alliance and the G7 Critical Minerals Action Plan, we are rallying funding, forging international partnerships, and leveraging every available tool to build resilient, sustainable, and secure supply chains." "These investments are essential to safeguarding Canada’s sovereignty, enhancing our global competitiveness, and solidifying our leadership position in the world economy," he added.
This alliance aims to ensure a stable supply of critical minerals for the G7 economies. Canadian Defence Minister David J. MacKenzie stated: "These investments strengthen Canada's contribution to NATO and enhance our collective resilience. By acting now, we are safeguarding Canada and our allies against supply-chain vulnerabilities—and reducing our reliance on unreliable sources." "As global demand for critical minerals continues to accelerate, building secure, sustainable, and resilient supply chains is not only sound economic policy—it’s also essential for our shared security and prosperity." Gregor Robertson, Canada’s Minister of Housing and Infrastructure and Minister for Pacific Economic Development, added: "Critical minerals are the backbone of the technologies and clean-energy systems that will power Canada’s future growth. Our investments in these projects underscore our commitment to innovation, economic expansion, and robust global partnerships—factors that are vital to building the strongest economy within the G7."
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