Ontario has officially launched the $500 million Critical Minerals Processing Fund (CMPF) to accelerate the province’s critical minerals processing capacity and strengthen domestic supply chains. First announced in the 2025 Budget, the CMPF aims to ensure that critical minerals mined in Ontario are processed locally by Ontario workers, reinforcing the province’s global leadership in this strategic sector and creating good-paying jobs.
Minister Vic Fedeli highlighted that the CMPF will build a complete, made-in-Ontario critical minerals supply chain, supporting economic growth while responding to rising global demand for critical minerals. The fund complements Ontario’s broader efforts to unlock the economic potential of the Ring of Fire and Northern Ontario’s mineral resources by maximizing existing processing facilities and supporting new operations.
The initiative will be delivered through Invest Ontario, the province’s investment attraction agency, and aims to enhance manufacturing competitiveness while ensuring a resilient, self-reliant economy. Minister Stephen Lecce emphasized that the fund promotes ethically sourced minerals, domestic processing, and the creation of thousands of local jobs, helping Ontario lead in clean energy and advanced manufacturing sectors.
Ontario’s critical minerals will support strategic industries such as defence, electric vehicles, battery manufacturing, technology, aerospace, and advanced manufacturing. By expanding processing capacity, the CMPF ensures these sectors have reliable access to responsibly sourced materials, enabling local manufacturers to adapt, grow, and create employment despite external market pressures.
The CMPF is part of the government’s broader plan to protect Ontario by boosting competitiveness, reducing regulatory barriers, making strategic investments, speeding up approvals, and championing local procurement. Ontario is among the world’s top 10 jurisdictions for mineral exploration, with key resources including nickel, graphite, copper, cobalt, and lithium, particularly in the Ring of Fire region.
Since its inception, Invest Ontario has facilitated over $12.4 billion in investments, creating more than 11,300 jobs, while the government is also investing nearly $3.1 billion in loans, guarantees, grants, and scholarships to support Indigenous participation in the critical minerals supply chain. Local leaders emphasized that the CMPF strengthens Ontario’s mining ecosystem, supports high-value job creation, and positions the province as a trusted supplier of critical minerals globally.
Officials and stakeholders highlighted that the fund will deliver strategic and economic benefits, accelerate innovation, and reinforce Ontario’s reputation as a top destination for investment and growth in the critical minerals sector.
