Phosphate added to Canada’s 2024 Critical Minerals List
Published by Oliver Kleinschmidt,
Editorial Assistant
World Fertilizer,
Fox River Resources Corporation has announced the addition of phosphate to Canada’s 2024 Critical Minerals List. The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, unveiled the updated list, which now designates phosphate as a critical mineral for Canada.
Fox River commended Minister Wilkinson and his team at Natural Re-sources Canada for their diligent efforts and consultations in updating the list. Fox River contributed to the federal government’s consultation process, emphasising phosphate’s essential role in strengthening food security in Canada and globally, and aiding Canada’s transition to a low-carbon economy.
Phosphate is an essential fertilizer for the agri-food industry and crucial for growth in the renewable diesel and sustainable aviation fuel industries. Phosphate is also a critical mineral for producing Lithium Iron Phosphate (LFP) batteries, which are integral for electric vehicles and battery storage.
The Government of Canada has made significant investments to sup-port the development of critical mineral projects and associated value chains. These investments include the US$1.5 billion Strategic Innovation Fund, the US$1.5 billion Critical Minerals Infrastructure Fund, the Indigenous Natural Resources Partnerships Programme, and Indigenous grants related to critical minerals infrastructure.
Projects for minerals on Canada’s 2024 Critical Minerals List, including phosphate, may also qualify for additional funding, incentives and sup-port from:
- The Canada Growth Fund
- The Business Development Bank of Canada
- Export Development Canada
- The Canada Infrastructure Bank
- Sustainable Development Technology Canada
- Scientific research and experimental development tax incentives
Additionally, the federal government is working to streamline the permitting process for the development of critical mineral projects.
Stephen Case, President and company CEO, commented: “The Government of Canada has officially acknowledged the importance of phosphate for Canada and its allies, demonstrating its commitment to sup-porting the development of domestic phosphate projects.”
Read the article online at: https://www.worldfertilizer.com/phosphates/05092024/phosphate-added-to-canadas-2024-critical-minerals-list/
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