Critical Minerals Innovation Fund
- Open Date : May 22, 2024
- Closing date : July 17, 2024
Overview
The Critical Minerals Innovation Fund (CMIF) provides funding of up to $500,000 to support projects in Ontario that focus on research, development, and commercialization of innovative technologies in the critical minerals sector. Eligible activities include those related to enhancing the battery supply chain, innovative mining techniques, mineral recovery, and other projects that bolster Ontario's critical minerals industry.
At a glance
Funding available
- Increase performance through digital transformation
- Develop a new product or service
- Conduct research and development activities
- Maximum amount : 500,000 $
- Up to 50% of project cost
- Open Date : May 22, 2024
- Closing date : July 17, 2024
Eligible candidates
- Mining, quarrying, and oil and gas extraction
- Manufacturing
- Professional, scientific and technical services
- Administrative and support, waste management and remediation services
- Ontario
- Non-profit
- Public or Parapublic institution
- For-profit business
- All revenue ranges
- All organization sizes
- All groups
- Research
- Environment
- Economic, Social and Community Development
- Business Associations
- Professional Associations
- Business owners / entrepreneurs
- Nonprofits / charities
- Academia / students
- All structures
- Provincial
Next Steps
Activities funded
The Critical Minerals Innovation Fund provides support for projects that enhance Ontario's critical minerals sector, focusing on innovation in exploration, production, and processing. Eligible activities are centered on developing technologies and processes that drive efficiency and innovation in the field.
- Research and development projects aiming at new technologies or techniques for mineral exploration and extraction.
- Initiatives focusing on mineral processing improvements or innovations in the battery supply chain.
- Projects that explore innovative solutions for accessing mineral resources in deeper or more remote locations.
- Recovery of minerals from mining waste to enhance sustainability and value.
- Innovative proposals supporting Ontario's Critical Minerals Strategy through means such as reprocessing and recycling spent batteries.
- Collaborative projects between private companies and research institutions aimed at commercializing critical mineral technologies.
Eligibility
Who is eligible?
The Critical Minerals Innovation Fund (CMIF) is open to specific types of applicants who can contribute to Ontario’s critical minerals sector through innovative projects. Prospective applicants must fulfill certain eligibility criteria to be considered for funding.
- Private-sector businesses engaged in critical minerals exploration, mining, development, production, or processing.
- Collaborative projects involving a private-sector business and a public-sector academic or research institution, or a non-profit organization or association, with one entity acting as the lead applicant and funding recipient.
- Projects must be located in Ontario and focus on research, development, and/or commercialization of innovative technologies related to the fund's key priority areas.
Who is not eligible
This grant excludes certain companies and entities due to associations with restrictions under specific Canadian laws. These limitations aim to ensure compliance with national and international policies.
- Applicants who are listed under the Special Economic Measures Act.
- Entities associated with persons listed under the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law).
- Organizations affiliated with entities listed in the Named Research Organizations as per the federal Policy on Sensitive Technology Research and Affiliations of Concern.
Eligible expenses
The Critical Minerals Innovation Fund (CMIF) provides funding for projects that enhance Ontario's critical minerals sector through innovation. Eligible projects must focus on research, development, or commercialization efforts in one or more key priority areas.
- Research and development projects related to the battery supply chain, including mineral exploration, extraction, processing, and recycling.
- Projects utilizing innovative techniques for deep exploration and mining to access resources in deep or remote areas.
- Initiatives focused on the recovery of minerals from mining wastes to extract additional value.
- Innovative projects that support Ontario's Critical Minerals Strategy, such as reprocessing spent batteries for metal recovery.
Eligible geographic areas
This grant is available to companies specifically operating within Ontario, Canada. The initiative focuses on projects taking place in Ontario to support the region's critical minerals sector.
- Businesses located in Ontario, Canada.
Additional information
Here are some miscellaneous information about the grant:
- The funding agreement must be executed and all conditions met before funding disbursements.
- Applicants must demonstrate commitment to the project by securing all other project financing.
- Proof of required insurance is necessary before funding is provided.
- Reporting requirements include submitting interim and final project reports.