NEWS RELEASE Province Investing $3.1 Billion to Support Indigenous Partnership in Critical Mineral Development |
Made-in-Ontario critical mineral supply chain will protect workers and communities across the province
May 21, 2025
Ministry of Finance
TORONTO — As part of the government’s plan to protect Ontario by building a more competitive, resilient and self-reliant economy, the province is supporting the creation of a made-in-Ontario critical minerals supply chain that includes new resources and opportunities for Indigenous equity partnerships. These measures include nearly $3.1 billion in loans, grants and scholarships that would support Indigenous participation, partnership and ownership in Ontario’s critical mineral supply chain.
“Ontario’s vast supply of critical minerals are at the heart of our plan to protect Ontario,” said Peter Bethlenfalvy, Minister of Finance. “By investing to unlock and process these minerals here in Ontario in partnership with Indigenous communities, we can make Ontario the top global hub of critical mineral development and protect our economy, workers and communities for decades to come.”
To unlock Ontario’s critical minerals, create new jobs and opportunities and ensure Indigenous communities reap the benefits of critical mineral development, the province is proposing the following measures as part of its 2025 budget, A Plan to Protect Ontario:
- Tripling the total amount of loan guarantees through the Indigenous Opportunities Financing Program (formerly the Aboriginal Loan Guarantee Program) to $3 billion and expanding eligibility beyond the electricity sector to include eligible projects in mining and critical minerals, resource development, energy, pipelines and other sectors, to help support investments by Indigenous communities in Ontario’s growth.
- Investing $70 million over four years through the Indigenous Participation Fund (formerly known as the Aboriginal Participation Fund) to improve capacity for Indigenous communities and organizations in areas of high mineral activity to participate in regulatory processes related to mineral exploration and mine development. The investment will provide greater capacity support to Indigenous communities to enable meaningful consultation on mineral exploration and mine development projects and better equip Indigenous communities to leverage economic opportunities through increased participation in Ontario’s growing minerals sector.
- Providing $10 million over three years to create new scholarship opportunities for First Nations postsecondary students interested in pursuing careers in resource development, equipping them with access to the tools and training to succeed as leaders and innovators.
“Our government is seizing the opportunity to strengthen economic and community partnerships with Indigenous communities across Ontario,” said Greg Rickford, Minister of Indigenous Affairs and First Nations Economic Reconciliation and the Minister Responsible for Ring of Fire Economic and Community Partnerships. “By investing in Indigenous equity, capacity and training, we’re preparing the next generation for careers both on and in the ground — ensuring Indigenous communities are key partners in the future of Ontario’s fully integrated critical minerals supply chain.”
These historic investments can help unlock new opportunities for Ontario workers and businesses, particularly in Indigenous communities and northern hubs such as Thunder Bay, Sault Ste. Marie, Sudbury, North Bay, and Timmins.
“Ontario is fully committed to unlocking the full potential of our critical minerals and with it the full potential of our province and its people,” said Stephen Lecce, Minister of Energy and Mines. “This is more than just a mining investment; it’s a blueprint for a stronger, more prosperous north as we increase funding and partnership with Indigenous communities. We’re creating real opportunities so young people and Indigenous communities can build their futures at home with good jobs, hands-on skills, and lasting careers. The world needs what Ontario has and we’re ready to deliver.”
More information about the government’s plan to protect Ontario, grow our economy and make Ontario the most competitive jurisdiction in the G7 is included in the 2025 Budget, which was released on May 15, 2025.
Quick Facts
- Ontario is one of the most mineral rich areas in the entire world, a world-class mining destination and among the top 10 jurisdictions in the world for mineral exploration. This includes minerals such as nickel, titanium, copper, cobalt and lithium which are key inputs in the manufacturing of electric vehicles, renewable energy solutions and other advanced technologies.
- Ontario’s abundant supply of critical minerals includes the vast reserves found in the Ring of Fire, an area almost 5,000 square kilometres in size located approximately 500 kilometres northeast of Thunder Bay.
- As part of the 2024 Ontario Economic Outlook and Fiscal Review, the government committed to review Ontario’s Indigenous Opportunities Financing Program (formerly the Aboriginal Loan Guarantee Program).
- As part of its plan to protect Ontario, the province recently introduced the Protect Ontario by Unleashing Our Economy Act, 2025. If passed, this comprehensive legislation would cut the red tape and duplicative processes that have held back major infrastructure, mining and resource development projects, including in the Ring of Fire, while ensuring that the Duty to Consult is met.
- The province also recently introduced the Protect Ontario Through Free Trade Within Canada Act, 2025, which, if passed, would support free trade and labour mobility across Canada.
Quotes
"As a key step in unleashing Ontario’s abundant supply of critical minerals in the Ring of Fire, our government is building Ontario’s mining workforce for decades to come. Through this scholarship, we are helping more Indigenous students attend post-secondary education to pursue rewarding and in-demand careers in our mining sector, driving economic growth in communities across the province."
- Nolan Quinn
Minister of Colleges, Universities, Research Excellence and Security
"Ontario’s nearly $3.1 billion investment in Indigenous economic opportunity is a strong signal that the province recognizes the critical role First Nations play in the future of Canada’s economy. The expansion of the Indigenous Opportunities Financing Program aligns directly with FNMPC’s mandate to ensure Indigenous nations have the tools to lead and partner in major projects on their lands. These measures support our members’ efforts to build equity ownership and long-term prosperity for their communities. We commend the Government of Ontario for this step forward in advancing meaningful economic reconciliation."
- Mark Podlasly
CEO, First Nations Major Projects Coalition
"I commend the Ontario government for its innovative leadership in supporting economic reconciliation. These initiatives announced today provide the necessary tools for Indigenous communities, businesses and people to play a bigger role in energy, mining and other vital sectors which will provide tremendous benefit for the Ontario economy."
- Clint Davis
CEO, Cedar Leaf Capital Inc.
"This is a meaningful investment in Indigenous economic leadership and a step toward real empowerment. Tripling the Indigenous Opportunities Financing Program and expanding access gives our communities the tools to take ownership of major projects. The $70 million to strengthen mineral exploration and mining capacity will help us build the skills and infrastructure needed to lead in resource development, not just participate. And the scholarships for our youth are especially important, they show a commitment to growing leadership from within. This is about building capacity, creating lasting opportunities, and making sure our First Nation communities are the ones shaping our future."
- Peggy Domingue
Executive Director, Ontario First Nations Economic Developers Association (OFNEDA)
Additional Resources
Ontario Unleashing Economic Potential of Critical Mineral and Resource Development
Protecting Ontario’s Critical Minerals and Energy Sector
Speech from the Throne — Protect Ontario
Media Contacts
Colin Blachar
Minister Bethlenfalvy’s Office
Colin.Blachar@ontario.ca
Ministry of Finance
Communications Branch
media.mof@ontario.ca
