Canada Invests $60 Million in Critical Minerals for Northern British Columbia and Yukon
Canada is injecting fresh funds to the development of critical minerals in the northern regions of British Columbia and the Yukon, with the federal government announcing up to $60 million in funding for two infrastructure projects as part of the Critical Minerals Infrastructure Fund.
“These projects, under the Canadian Critical Minerals Strategy, will develop the necessary infrastructure to access and transport our rich critical mineral resources in northern B.C. and the Yukon. Developments like these help mines get built faster and create good mining jobs across British Columbia and the Yukon,” said Jonathan Wilkinson, Minister of Energy and Natural Resources.
One of the two projects benefiting from the funding is the construction of a 43-kilometre access road to support the development of the Galore Creek copper mine in northwest B.C. Galore Creek, a 50/50 joint venture between Newmont Corporation (NYSE: NEM) and Teck Resources Limited (NYSE: TECK), one of Canada’s largest undeveloped copper deposits. The site contains over 12 billion pounds of copper, and once operational, it is expected to significantly increase Canada’s annual copper supply, a vital component in clean energy technologies.
The access road will link the mine to existing infrastructure and allow for the transportation of materials to proposed mill and processing facilities. This road is essential for connecting the mine to B.C.’s low-emission electricity grid, allowing Galore Creek to operate using BC Hydro’s clean power. The government has conditionally approved up to $20 million for this development, pending final due diligence.
“Canada’s support for Galore Creek represents confidence in our project, our owners, the relationships we have fostered with the Tahltan Nation, and our commitment to responsibly developing a world-class copper–gold mine,” emphasized Rob Mean, General Manager of Galore Creek Mining Corporation.
The Galore Creek project is located in B.C.’s Golden Triangle, a region known for its rich mineral potential, containing approximately 75% of Canada’s known copper reserves. Copper is a critical resource in renewable energy systems, electric vehicles, and electronics, making the development of this project a key to Canada’s clean energy ambitions.
The second major initiative receiving funding is the Yukon Government’s pre-feasibility study for a 765-kilometre high-voltage transmission line that would connect the Yukon electrical grid to British Columbia’s grid. This project is integral to advancing critical minerals extraction in both the Cassiar and Tanana regions of the Yukon and northern B.C.’s Golden Triangle.
This transmission line is expected to provide clean, reliable, and affordable energy, making it a linchpin for future mining operations producing cobalt, copper, nickel, and other critical minerals in these regions. The Government of Canada has earmarked up to $40 million, subject to due diligence, to support this initiative.
Yukon Premier Ranj Pillai called the Grid Connect Project a transformative opportunity, not only for energy but also for the economy: “This project will not only power our homes but also drive economic and social growth. It is a proud milestone for our government on the path toward a more sustainable energy future.”
The federal government’s $60 million investment in the northern regions of B.C. and the Yukon is part of a larger effort to position Canada as a leader in the global energy transition. As demand for critical minerals continues to rise, the development of infrastructure to access these resources is seen as a crucial step in ensuring Canada can meet both domestic and global needs.
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