Canada’s Energy and Natural Resources Minister Tim Hodgson forecasted on Friday that up to 10 major resource projects could reach final investment decision or break ground by spring 2027, as the Liberal government intensifies efforts to bolster the economy amid a punishing U.S. trade war.
Speaking at The Empire Club of Canada in Toronto, Hodgson highlighted the progress of Prime Minister Mark Carney’s Major Projects Office, launched last year to fast-track regulatory approvals and secure hundreds of millions in funding. So far, 15 projects across mining, energy, electricity, and transport—representing a potential $126 billion in investment—have been referred to the office for prioritization.
“We need to keep moving projects from approval to construction and production,” Hodgson emphasized, underscoring the urgency of offsetting economic damage from U.S. tariffs, including a 50% levy on Canadian steel that has effectively shut manufacturers out of the American market since early last year.
Sponsored · Cambria Gold Mines
A key example of this push came on Friday with Enbridge Inc.’s decision to proceed with a $4 billion expansion of a natural gas pipeline system in British Columbia, following federal approval. Hodgson also pointed to improved federal-provincial coordination, citing Alberta’s “One Project, One Review” agreement as a step toward cutting bureaucratic delays.
READ: Enbridge’s $4 Billion Sunrise Expansion Gains Federal Approval for B.C. Pipeline Boost
Hodgson framed Canada’s resource sector as a critical lever in upcoming negotiations to renew the United States-Mexico-Canada Agreement, arguing that energy, minerals, and forest products are the country’s strongest bargaining chips. He also signaled plans for a coherent electricity and nuclear energy strategy to be rolled out within the next year, tying it to ambitions in AI, manufacturing, and mineral processing.
The minister’s outlook reflects a broader shift toward self-sufficiency, as Canada grapples with a transformed global economic landscape. With aluminum, steel, autos, and forestry sectors reeling from U.S. trade policies, the government is banking on a resource-driven recovery to anchor its economic future.
As a concrete target, Hodgson’s projection of 5 to 10 projects advancing by spring 2027 sets a clear benchmark for the Major Projects Office’s success.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
