Critical Minerals Innovation Fund (CMIF) Deadline Approaching July 17
Many products and specialized technologies require critical minerals as raw materials, including nickel, copper, or cobalt. However, if a critical mineral isn’t available, there aren’t many alternative minerals that can replace them.
The Critical Minerals Innovation Fund (CMIF) will provide up to 50% of eligible project costs, up to $500,000 per project, to support the research, development, and commercialization of innovative technologies and solutions for critical minerals.
The CMIF will support Ontario’s strategy to improve and protect the critical minerals supply by supporting Ontario-based innovation via research and development projects. With a commitment of up to $1.5 billion in federal funding over seven years, CMIF is set to ignite innovation and drive sustainable development across the critical minerals sector.
“The new Critical Minerals Innovation Fund is another way our government is growing Ontario’s green economy, while building the north, supporting job creation, and fostering innovation. Ontario has everything companies need to grow and thrive, and we’re excited to see the made-in-Ontario solutions that will be developed through this fund.
Vic Fedeli, Minister of Economic Development, Job Creation and Trade
About the Critical Minerals Innovation Fund (CMIF)
Through projects funded via the Critical Minerals Innovation Fund (CMIF), Ontario aims to explore, mine, smelt, and process more critical minerals. Using the fund, the government’s goal is to drive the commercialization of technologies to extract and process critical minerals by promoting collaboration between industry, academia, and start-ups.
“Our goal is to supply our province, country, and allies with the critical minerals we need to meet our climate goals and transition to a cleaner, sustainable economy. This investment will leverage Ontario’s expertise to tap into new and growing markets and ensure we capitalize on the growing demand for responsibly and ethically sourced critical minerals.”
George Pirie, Minister of Mines
CMIF opens doors to two distinct avenues of support tailored to your needs:
- Grants for Indigenous Engagement: Foster meaningful participation and capacity building within Indigenous communities, fostering inclusive growth and collaboration.
- Contribution Funding for Infrastructure Projects: From preconstruction activities to shovel-ready projects, seize the opportunity to bring your visions to life with financial backing from CMIF.
Funding Snapshot: Critical Minerals Innovation Fund (CMIF)
Amount of Funding
The CMIF will provide a maximum of 50% of eligible project costs, up to $500,000 per project.
Applicant Eligibility
To be eligible for funding, your business must meet all the following requirements. To assess if your business and project is eligible for CMIF funding, please contact the Mentor Works team of government funding specialists.
Businesses eligible to apply for this program must:
- Be a private-sector business or a private sector business collaborating with a public sector academic or research institution, non-profit or association;
- Be doing the project in Ontario;
- Be conducting a project that involves research, development, and/or commercialization of innovative technologies, techniques, processes or solutions that related to one of more of the key priorities (outlined below);
- Not be receiving funding from any other Ontario government program; and
- Only receive funding for one project under the CMIF.
Key Priority Areas include:
- Battery supply chain;
- Deep exploration and mining; and
- Recovery of minerals.
Project Eligibility
Projects that will be supported under the CMIF include projects that:
- Support the research, development and commercialization of innovative technologies, techniques, processes and solutions for critical minerals;
- Increase critical minerals exploration, mining, development, production and processing;
- Stimulate investment in Ontario’s critical minerals supply chain; and
- Enhance collaboration between industry, academia, start-ups, and research and development firms to encourage innovation in the critical minerals sector.
Deadline to Apply
- Applications will be accepted as of May 22nd, 2024.
- Deadline for applications is July 17, 2024.
How to Apply for Research and Development Funding
By conducting research and development (R&D), Canadian companies can achieve competitive advantages over their domestic and international competitors. To support these initiatives, the Canadian government offers funding to offset R&D costs and help companies stretch their research budgets.
Learn about available grant and loan programs for R&D projects by browsing our Research & Development Funding Directory. Connect with our team of professionals to learn more about whether your business could qualify for government funding to help with innovation and economic growth.
