ONTARIO-The Ontario government has officially launched a $500 million Critical Minerals Processing Fund (CMPF), which will provide financial support to projects that accelerate the province’s critical minerals processing capacity and strengthen domestic supply chains. First announced in the 2025 Budget, the CMPF will strengthen the province’s position as a global leader by ensuring critical minerals mined in Ontario are processed and refined in Ontario, by Ontario workers.
“As global demand for critical minerals rises across leading industries, our government is meeting the moment by increasing Ontario’s domestic processing capacity,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. “Through the Critical Minerals Processing Fund, we are building a complete, made-in-Ontario critical minerals supply chain that will create good-paying jobs for workers, strengthen the economy and reinforce our province’s position as a global leader in this critical sector.”
The Ring of Fire, an area almost 5,000 square kilometres located about 500 kilometres northeast of Thunder Bay.
Officials say by ensuring existing mineral processing facilities can maximize their production and supporting the construction of new operations, the government is boosting Ontario’s manufacturing competitiveness and building a more resilient and self-reliant economy equipped with the tools needed to meet growing domestic and international demand for critical mineral resources. The CMPF will be delivered through Invest Ontario, the province’s investment attraction agency.
“We are finally ending the ripping and shipping of Canada’s vast resources by stepping up with a plan to build mines faster and expand domestic processing,” said Stephen Lecce, Minister of Energy and Mines. “This is about protecting Ontario workers by ensuring ‘Made in Canada’ is stamped on the minerals we process, creating thousands of good-paying jobs right here at home. We will continue to lead the clean energy economy by unapologetically opening new markets for the most ethically sourced resources on Earth.”
Ontario’s critical minerals advantage will play a key role in growing the province’s strategic sectors, including defence, electric vehicle (EV) and battery manufacturing, technology, aerospace and advanced manufacturing according to the government. By expanding production capacity through the CMPF, Ontario will be positioned to provide these industries with secure, reliable access to responsibly sourced materials, ensuring local manufacturers have the resources they need to adapt and expand in the face of U.S. tariffs and create new, good-paying jobs for Ontario workers.
Businesses looking to determine if their project is eligible for funding under the CMPF can engage with Invest Ontario through the agency’s website.
