The Honourable Tim Hodgson  Minister of Energy and Natural Resources Unlocking Canada’s critical minerals advantage Prospectors & Developers Association of Canada (PDAC) Convention 2026

March 3, 2026

Toronto, Ontario

Check against delivery

Hello everyone, bonjour.

Over the course of this week at PDAC, every announcement, deal and conversation has pointed to one, simple truth: Canada is a mining nation. And after years of project delays and uncertainty, we are back.

The announcements I am making today — along with the 30 new deals I announced under the Critical Mineral Production Alliance yesterday — will propel our industry to a new level. They will get new mines built; deliver Canadian critical minerals to domestic and international markets; create jobs and lasting benefits for hard-working Canadians; and decisively strengthen Canada’s economic sovereignty and national security.

Today, I am announcing investments of over $165 million for 22 Canadian projects focused on accelerating planning, development and processing projects here at home.

This investment means new critical minerals infrastructure, innovation, carbon reduction, geoscience and Indigenous partnerships. It also means accelerating and unlocking $434 million in Canadian project capital across eight provinces.

Let me say that again: this will unlock $434 million in Canadian project capital, truly from coast to coast. Those are the kind of figures that can transform an economy and an industry like ours.

These investments will also support Canada’s long-term plan under our new Defence Industrial Strategy, which will advance prosperity and security by strengthening Canada’s defence industrial base.

To break it down, these investments include:

• More than $25 million under the Critical Minerals Research, Development and Demonstration program to drive innovation and advance cutting-edge technologies.
• Nearly $18 million under the Energy Innovation Program to advance clean energy and mining technologies that improve resource reliability, affordability and competitiveness while reducing emissions.
• Nearly $3 million under the Indigenous Natural Resource Partnerships program to strengthen Indigenous economic participation in mining.
• And more than $2 million under the Critical Minerals Geoscience and Data Initiative to enhance access to high-quality geoscientific data and generate new insights that reduce exploration risk.

To further geoscience work, yesterday we announced up to $40 million to advance the Canadian Digital Core Library — a made-in-Canada tool that will modernize how we understand our resources and embark on new discoveries, which can turn into new projects.

I was also happy to sign a Declaration of Intent on the core library with leading industry, academic and innovation partners. By bringing together core from federal, provincial, territorial and private collections, we can fast-track exploration, improve investment certainty and get projects moving that will become the resilient value chains Canadians and our allies are counting on. 

Perhaps the most significant piece of today’s announcement has to do with one of the most persistent obstacles facing projects in Canada: infrastructure.

The road that does not yet exist; the transmission line that stops short; the processing facility that is just out of reach. These gaps can determine whether a project advances or remains stranded. And they certainly determine whether Canadian minerals get to global markets.

That’s why I am pleased to formally launch the First and Last Mile Fund, which has subsumed the Critical Minerals Infrastructure Fund, with five new projects receiving a total of nearly $115 million. Over the next several years, the First and Last Mile Fund will invest $1.5 billion in infrastructure projects that are key to developing Canadian mineral supply chains, including mine development, enabling infrastructure for processing, and transportation that will take our resources onward toward domestic and international market access.

Recognizing that many critical minerals deposits and infrastructure projects are located on Indigenous territories, the fund will also prioritize Indigenous participation and leadership across the value chain.

Our first set of investments under the fund include pre-construction activities like Indigenous engagement, environmental assessments and detailed planning, and shovel-ready projects moving ahead with energy upgrades. This investment includes projects like new hydro power in B.C. and transmission lines in Saskatchewan that will not only enable new mining but also improve the quality of life in the regions where mining happens.

I’m also excited to share we will officially launch Budget 2025’s second mining fund — the Critical Minerals Sovereign Fund — this spring. This $2‑billion fund will invest in critical minerals projects and companies through a range of instruments that are new to Natural Resources Canada, including equity investments and offtake agreements. It will improve project economics, secure enhanced certainty for investors and build stronger supply chains for priority Canadian minerals.

I also want to take a moment to discuss one of the most exciting topics for a room full of miners, investors and politicians: regulatory streamlining and environmental assessments.

Since even before I was sworn into Cabinet, I have consistently heard one message: certainty matters. Capital flows to jurisdictions that combine high standards with efficiency, clarity and predictability.

I have said since day one that we must move from delay to delivery. So — to dovetail with our signing of “One Project, One Review” agreements across the country and with the work being done at the Major Projects Office — today, I am proud to launch a tool specific to mining: the Mine Permit Navigator.

The Navigator is a practical tool designed to improve transparency and co-ordination in federal permitting to support our industry partners. It will provide proponents with clear guidance on regulatory requirements and defined pathways through approvals. It will make sure that mining companies — big and small — can spend less time on bureaucracy and more time on building.

Finally, I will note this work is not just happening at NRCan. Yesterday, the Prime Minister witnessed the signing of a $2.6-billion deal between Cameco in India that will see India purchase 22 million pounds of uranium from Cameco — a great Saskatchewan company — creating jobs and economic growth here at home.

And this morning, my colleague Minister MacKinnon [Steven MacKinnon, Minister of Transport] announced that tomorrow we will launch calls for proposals for two major infrastructure funds that will support our mining industry further: the $5-billion Trade Diversification Corridors Fund and the $1-billion Arctic Infrastructure Fund.

Put all together, today’s announcements send a clear signal: Canada’s new government is reshaping how we develop our mineral wealth. It’s not enough to just have these resources. We must unlock and leverage them, so we can deliver security, prosperity and opportunity for Canadians and the world. 

Our mining sector already supports nearly 725,000 jobs and contributes a full five percent of Canada’s GDP. Today’s investments and our government’s entire strategy — from defence, to automotives, to clean electricity and climate competitiveness and beyond — mean we will only see those numbers grow. Because Canada is not content to simply extract value — we are determined to retain it, grow it and ensure it’s felt by people and communities across the country.

Canada is putting its mineral wealth to work so that every Canadian — no matter where they live — can benefit from the resources beneath our feet. Because what’s the point of being an energy and natural resource superpower, if not to make Canadian lives better?

At PDAC, the world comes to Canada.

This year, they will see something new and unmistakably clear: we are building again. We are investing more than ever before. We are securing our future — by Canadians, for Canadians.

We will not only compete in this new era of uncertainty — we will shape it. We will strengthen our economy; support our allies; safeguard our security; and protect our planet.

That is how we turn resource strength into national strength. And that’s how we position ourselves as a global leader in the minerals that will define the 21^st century.

Thank you, merci beaucoup.