Hon. Michael L. MacDonald: Mr. Wilkinson, the people of Atlantic Canada are concerned, and need some reassurance and support from the federal government regarding the Atlantic Loop. Not long ago, you indicated that recent events were “a bump in the road.”

The Atlantic Loop is essential for Atlantic Canada. It will secure the power needed to phase out coal plants and pave the way for the provinces to meet their 2030 clean energy targets.

A few months ago, you indicated that the federal government was still actively pursuing this energy corridor, but, minister, I’m hearing that the project cannot be built on time if the construction doesn’t begin very soon. Time is of the essence. Minister, is the funding for the Atlantic Loop required to be in the spring budget for the project to go ahead? What are the repercussions if funding is not in the budget?

Hon. Jonathan Wilkinson, P.C., M.P., Minister of Natural Resources: It’s a very good question, senator. As you know, the money for the Critical Minerals Strategy was in the 2022 budget. It was $3.8 billion. It is actually very unusual for a government to effectively pre-fund a strategy that has not been fully finalized, but that’s what we did in the budget, and then we launched the final version of the strategy just last week.

It is critically important for Canada. I think it represents, as you would have seen me say in the press conference, a generational economic opportunity for this country, not just around extraction but around processing and the manufacturing of batteries and electric vehicles. It is also important, as we move forward, that we are transparent with Canadians about the progress that is being made along the chain. Of that $3.8 billion, some is for projects, some is for infrastructure and some is for geological science.

My expectation going forward is that at least annually we would be reporting out on the progress of the strategy.

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