Prime Minister Mark Carney is preparing to reveal a second series of significant infrastructure initiatives, which will include projects centered on extracting critical minerals, exporting liquefied natural gas (LNG), and enhancing transmission capabilities, as per sources familiar with the matter. The upcoming announcement is expected to cover a minimum of six projects, featuring the Sisson Mine in New Brunswick, the Crawford Nickel project in Ontario, the Ksi Lisims LNG project in British Columbia, the Iqaluit hydro project, and the Nouveau Monde Graphite Phase 2 project in Quebec.
Not all projects have been disclosed yet, with at least one of the two remaining initiatives being related to transmission infrastructure. The projects are subject to potential modifications until the official announcement.
Selecting major projects has been a central element of the government’s strategy to revitalize the Canadian economy amid trade challenges and productivity issues. The first phase of projects was unveiled in September to attract private investment and streamline regulatory procedures.
The impending announcement by Carney, set to take place in Prince Rupert, B.C., is fueling anticipation that the Indigenous-backed Ksi Lisims LNG project will be among the list of projects. The venture, sanctioned by Ottawa in September, could yield up to 12 million tonnes of LNG annually, offering significant economic prospects.
The focus on critical minerals and electrification is evident in three of the upcoming projects, namely the Sisson Mine, the Nouveau Monde Graphite mine, and the Crawford Nickel project. The proposed Crawford mine in Timmins, Ont., has the potential to create around 1,000 direct and 3,000 indirect jobs, as indicated by an economic impact assessment.
Additionally, the Sisson tungsten mine near Fredericton is poised to be part of the list, with plans to extract substantial amounts of tungsten and molybdenum-containing ore daily. Premier Susan Holt of New Brunswick expressed satisfaction at the inclusion of a project from her province on the list.
A new critical minerals sovereign fund has been allocated $2 billion over five years for strategic investments in the recent federal budget. Furthermore, an Inuit-owned clean energy endeavor in Iqaluit is anticipated to be featured, following a $6 million funding commitment earlier this year for the Iqaluit Nukkiksautiit hydro project.
Carney emphasized that the Major Projects Office will maintain a dynamic list of initiatives, with new additions regularly incorporated. The objective is to ensure ongoing support for critical infrastructural developments in the country.