As part of our plan to protect Ontario and grow a stronger, more competitive economy, the Ontario PC government is investing $500 million to create a new Critical Minerals Processing Fund—a generational investment to strengthen Ontario’s mineral sector and secure good-paying jobs for Ontario workers.
This new fund will provide strategic financial support to:
- Expand and modernize existing processing facilities
- Build new infrastructure to increase Ontario’s processing capacity
- Ensure that critical minerals mined in Ontario—such as nickel, cobalt, lithium and graphite—are refined and processed here, not shipped abroad
By investing in a made-in-Ontario supply chain, the fund supports long-term prosperity, reduces reliance on foreign processing, and protects Ontario from global uncertainty and trade disruptions like tariffs.
Ontario is already one of the most mineral-rich regions in the world, home to the vast reserves of the Ring of Fire in Northern Ontario. This fund will help unlock that potential and fuel growth in key sectors like electric vehicles, battery storage, and advanced manufacturing.
Overall, as part of the province’s 2025 Budget, the fund will drive economic and workforce growth in Ontario’s key mineral and manufacturing industries. The Ontario PC government is working towards making our province the most competitive jurisdiction in the G7.