Another year, another round of work, investments and costs for mining companies.
As one of the world’s mining industry leaders, Canada is home to a slew of resource companies, from juniors to developers to senior miners. To support their efforts, the country’s federal, provincial and territorial governments have various programs in place — the list below includes five programs that are open for applications, or will be soon.
Read on to learn more about which companies can apply and how much money is up for grabs.
1. Critical Minerals Research, Development and Demonstration Program
Launched by the Canadian government in 2021, the Critical Minerals Research, Development and Demonstration Programprovides funding to support the development of critical minerals value chains.
As its names suggests, it focuses on research, development and demonstration projects.
It was initiated by Natural Resources Canada “to advance commercial readiness of mineral processing technologies, supporting zero-emission vehicle value chains and critical mineral development.”
Funding is processed through two major streams: federal research and development and contribution funding.
As of September 2024, the program supported 14 approved grants (including three recycling projects).
The federal government also disclosed an investment of C$192.1 million for the program, aiming to “advance technologies and processes that enhance the production and processing of critical minerals.”
The latest round of applications is closed, but details regarding application timelines for 2025 are anticipated.
Information on timelines and funded projects are available here.
2. Energy Innovation Program
Managed by Canada’s Office of Energy Research and Development, the Energy Innovation Program was launched in April 2016 to advance clean energy technologies that assist in achieving Canada’s climate targets.
The program supports the transition to a low-carbon economy, with a focus on funding research, development and demonstration projects, as well as other related scientific activities.
Among its main initiatives is the Mining Decarbonization Demonstration Program, which focuses on demonstration activities within Canadian upstream to midstream operations.
Projects must address de-risking and accelerating the adoption of innovative technologies in Canada’s mining sector and advance the commercialization of clean technology solutions to position Canadian innovators as global leaders in mining sector decarbonization. In addition to that, the program aims to foster collaboration between clean technology mining, milling and/or smelting developers and owners and/or operators in Canada.
Applications come in two phases, with the expression of interest (EOI) phase open to all eligible applicants. The second phase, the full project proposal, is for invited applicants only.
The deadline for applications for the EOI phase is January 27. A guide for applicants is available here.
3. Ontario Junior Exploration Program
Designed for junior mining companies in Ontario, the Ontario Junior Exploration Program (OJEP) offers up to C$200,000 per project. It covers up to 50 percent of eligible expenses for early exploration activities in the province.
The program launched in 2021, focusing on assisting companies that explore and develop critical and precious minerals assets. It was previously known as the Junior Exploration Assistance Program, which was introduced in 2015.
“Ontario is home to significant critical minerals deposits, including lithium, cobalt, copper and nickel. We are well positioned to become a global supplier, producer and manufacturer of these minerals, which are important to daily life,” the Ontario government says in its 2024/2025 guide for the program.
“By supporting early exploration for critical minerals through OJEP, Ontario is helping to unlock the province’s vast mineral exploration potential and paving the way for unprecedented growth in our mining sector.”
The program hosts two streams, one for critical minerals projects and another for exploration projects. The current OJEP guidelines indicate an investment of C$13 million, including C$4 million for critical minerals.
Applications for the 2024/2025 are closed, but the 2025/2026 round is expected to open soon.
4. Mining Incentive Program
The Northwest Territories (NWT) also hosts a funding program of its own, with a total budget of C$1.5 million. All levels of exploration, from grassroots to advanced, are eligible for funding.
Called the Mining Incentive Program (MIP), it provides assistance via two programs, namely the Prospector Mining Incentive Program (PMIP) and the Corporate Mining Incentive Program (CMIP).
PMIP is open to prospectors licensed to operate in the NWT, with a maximum of C$25,000 in assistance available.
Meanwhile, CMIP can cover up to 60 percent of eligible project expenses for mineral exploration companies. Explorers may apply for up to C$240,000 in funding.
Eligible expenses for both programs must be incurred from April 1, 2025, to March 31, 2026.
The application deadline for the 2025 MIP cycle is April 30. Guides are available online for the PMIP and CMIP.
5. Mineral Resources Development Fund
In Nova Scotia, companies are able to apply for funding through the Mineral Resources Development Fund (MRDF).
The program was established in 2018 as a replacement for the Nova Scotia Mineral Incentive Program, which operated from 2012 to 2017. Administered by the geoscience and mines branch of the Nova Scotia Department of Energy and Mines, the MRDF aims to promote and increase mineral exploration and development in Nova Scotia.
It features funding streams for grassroots mineral exploration, shared funding, innovation, education and outreach, marketing, post-secondary research and major projects.
Eligible applicants include prospectors, exploration companies, researchers and projects in the mining sector that attract investment and help grow Nova Scotia’s economy.
Various funding streams, including prospecting grants of up to C$40,000, are available.
Applications for three streams — communities, marketing, and education, outreach and engagement — are open year round, from April 1, 2024, to March 2025.
Specific application periods for other streams, such as geochemical and geophysical grants, are announced annually. The recent cycle is no longer accepting applications, but a new round is expected to open in 2025.
Securities Disclosure: I, Gabrielle Luisa de la Cruz, hold no direct investment interest in any company mentioned in this article.