Gov't FundingWonder if we will see investment in Frontier? Would seem like a logical candidate.
The Financial Post reports in its Wednesday, March 8, edition that Ottawa will invest $14-million in six Canadian mining projects focused on producing the minerals needed to power electric vehicles. The Post's Naimul Karim writes that the federal investment represents the "first wave" of about $200-million in funding that the government plans to make toward the research and development of critical minerals projects, the Natural Resources Department said Tuesday. FPX Nickel and Search Minerals, both from Vancouver; Calgary-based E3 Lithium; Toronto's Sherritt International; Quebec's Geomega Resources; and Saskatchewan-based Prairie Lithium were awarded the federal money. FPX Nickel chief executive officer Martin Turenne said, "If the restriction on Chinese investment in Canadian mining companies was the 'stick,' tangible direct investments like this represents the first of what I expect to be many 'carrots' for innovative, low-carbon Canadian projects like FPX's Baptiste nickel project." FPX received $724,87l. Analysts say the order was also part of a larger international effort to shift supply chains away from China, which dominates the EV industry, and toward friendlier nations.