More than 60 minerals and metals are produced by over 200 mines across the country.
Leveraging geology, talent, and partnerships with industry, the Government of Canada says it is investing to put “mineral wealth to work.”
At the 2026 Prospectors and Developers Association of Canada Convention, Minister of Energy and Natural Resources Tim Hodgson announced over $3.6 billion in new programs and investments to unlock Canada’s critical minerals advantage and deliver Canadian minerals from mine to market.
“Canada has the minerals the world wants,” says Hodgson.
The Minister announced $165 million for 22 Canadian minerals projects, including four cleantech projects receiving $18M through the Energy Innovation Program.
“We are purposefully building and on-shoring full, domestic value chains that create good jobs, strengthen our economic and national security, and support rural, remote, and northern communities,” stated Hodgson.
The Energy Innovation Program funding includes $3M for Burnaby’s Nano One Materials to research, develop, and optimize methods of producing lithium iron phosphate using various forms of iron feedstock.
Hodgson says “we’re building a stronger, more productive, and increasingly prosperous Canada by supporting companies like Nano One that innovate here at home.”
Lithium iron phosphate is a key cathode active material utilized in battery systems for energy grids, electric vehicle, and data centres.
Nano One’s patented One-Pot process enables cost-competitive input of alternative iron feedstock that can be sourced in various jurisdictions around the world, eliminating the need to source precursor materials while enabling diversification of supply chains.
“This project will help scale up the production of battery materials and drive innovation in clean technologies vital to a lower-carbon future,” Hodgson noted.
Sumitomo Metal Mining, an investor in Nano since 2023, will contribute technical expertise, testing, and external validation for the development program, according to Nano chief executive officer Dan Blondal, who says he is “very grateful to NRCan and the Government of Canada for their continued support.”
“These funds support us as we bring cost competitive and scalable LFP processing technology alternatives to markets, strategic partners, and customers around the world, and they help us enhance our commercial offerings and supply chain solutions,” Blondal stated.
Nano One Materials, established in 2011, secured $7M in equity financing late last year.
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