Ongoing supply chain disruptions continue to adversely affect the global economy. This geopolitical instability has only reinforced the importance that our government should place on ensuring the security of our critical minerals and natural resources.

Northern Ontario can be a worldwide supplier of critical minerals, such as nickel, cobalt and lithium, all essential minerals required to construct new electric and green technology. Speaker, can the Minister of Mines please expand on our government’s most recent announcement about the new investments in the critical mineral sector?

This is why our government must show leadership by partnering in good faith with companies that are at the forefront of critical mineral innovation. Speaker, can the minister please tell us how the mining and business community has responded to our government’s new critical innovation fund?

Thank you to the member from Kitchener–Conestoga for the question.

Mr. Speaker, last week I was in Timmins to launch the Critical Minerals Innovation Fund. This is a very exciting time for Ontario as we decarbonize our economy. What we’re doing is critical to the future of not only Ontario, but to the globe. This is a two-year, $5-million fund which will support research, development, and commercialization of innovative technologies, techniques, processes, analytical solutions for critical minerals.

These projects will help increase exploration, mining, development, production and processing capacity of critical minerals in Ontario. Our investment will leverage Ontario’s expertise to tap into new and growing markets and to ensure we capitalize on the demand for critical minerals.

Mr. Speaker, I know there are industries that will leverage this fund to partner with Indigenous communities, non-profits or colleges—academics—to ensure Ontario remains a leader in innovation in the mining sector. This will strengthen our Critical Minerals Strategy and help us achieve our goal by creating a supply chain for clean technologies right here in Ontario.