The federal government announces that it will invest $222 million to help a Quebec company increase the production of essential minerals for goods such as electric cars and batteries.
Prime Minister Justin Trudeau made the announcement today after touring the Rio Tinto Fer et Titane facility in Sorel-Tracy, Quebec, about 90 kilometers northeast of Montreal.
Trudeau says the funding will come from the Strategic Innovation Fund and allow the company to increase production of critical minerals such as lithium, titanium and scandium.
He says the money will help the central Quebec plant cut its emissions in half by 2030 by electrifying furnaces and phasing out coal.
The federal government says in a press release that its investment will create up to 150 jobs at the company.
He adds that the funding will support domestic and foreign clean technology supply chains and help make Canada the “global supplier of choice” for critical minerals and materials needed for the global green and digital economy.
– This report from The Canadian Press was first published on October 11, 2022.