Key Investments Will Bolster Mining in Sudbury, Thunder Bay, and the Ring of Fire

• Province Aims to Become Global Leader in Clean-Tech Mineral Supply

SUDBURY – Mining – Ontario has officially launched a $500 million Critical Minerals Processing Fund (CMPF) to expand domestic processing capacity and secure the province’s position as a global leader in critical minerals. Announced in the 2025 Budget and now open for applications, the fund will support projects that increase mineral processing output, build new facilities, and strengthen the end-to-end critical minerals supply chain — all while creating high-value jobs for Ontario workers, especially in the North.

Delivered through Invest Ontario, the fund is expected to accelerate processing for key minerals like nickel, lithium, copper, graphite, and cobalt, positioning Ontario as a critical supplier of materials essential for electric vehicles (EVs), batteries, defense, and clean technologies.

What This Means for Northern Ontario and Thunder Bay

For regions like Thunder Bay, Sudbury, and the vast Ring of Fire, the fund represents a major opportunity. With growing global demand for clean energy and battery metals, Ontario is seeking to move away from “rip and ship” practices by processing more materials locally — not exporting them unrefined.

This shift could create new value-added jobs in communities across Northern Ontario and enable greater Indigenous participation in the mining supply chain, with $3.1 billion set aside in loans, guarantees, grants, and scholarships to support Indigenous ownership and partnership.

“This investment reinforces what we have long known in Greater Sudbury: Ontario’s economic future runs through the North,” said Paul Lefebvre, Mayor of Greater Sudbury. “It will accelerate innovation, grow our local economy, and create high-value jobs that support families across our community.”

Strategic Economic Impact

Minister of Economic Development, Job Creation and Trade Vic Fedeli emphasized that the fund is about preparing Ontario for long-term leadership in critical sectors:

“We’re building a complete, made-in-Ontario critical minerals supply chain that will create good-paying jobs and reinforce our position as a global leader.”

The fund also aligns with new legislation — including the Protect Ontario by Unleashing Our Economy Act and Special Economic Zones Act — aimed at streamlining infrastructure and mining approvals across the North.

The Bigger Picture

• Ontario is one of the top 10 global jurisdictions for mineral exploration, with vast reserves in the Ring of Fire, northeast of Thunder Bay.

• Invest Ontario, the province’s investment agency, will oversee the CMPF and help businesses determine project eligibility.

• Since its launch, Invest Ontario has secured over $12.4 billion in investments, supporting 11,300+ new jobs.

• By expanding processing, Ontario is also looking to mitigate risks from U.S. tariffs and ensure secure, domestic access to critical materials.

“We are finally ending the ripping and shipping of Canada’s vast resources,” said Stephen Lecce, Minister of Energy and Mines. “This is about protecting Ontario workers and ensuring ‘Made in Canada’ is stamped on the minerals we process.”

Northwestern Ontario Impact

The CMPF has direct implications for Northwestern Ontario’s role in the future of Canada’s mining industry. With proximity to the Ring of Fire and access to skilled trades and research through Lakehead University and Confederation College, the region is well-positioned to benefit from downstream investments in mineral processing, manufacturing, and export logistics.

The Last Word:
Ontario launches $500M fund to boost critical minerals processing, with big impacts for Northern mining.