Canada Invests in Clean Energy and Critical Minerals at Mineral Resources Review 2024 Conference

ST. JOHN'S, NL, Nov. 6, 2024 /CNW/ - The Government of Canada is supporting Canadian utilities and system operators that are integrating clean energy solutions to meet the demands of increased electrification at the least cost to ratepayers. These measures are enabling economically and environmentally sustainable energy growth 

Today, while attending the Minerals Resources Review 2024 conference in St. John's, the Honourable Jonathan Wilkinson announced an investment of over $660,000 through the Smart Renewables and Electrification Pathways Program (SREPs) to support the Labrador West Transmission Study, which will help expand transmission infrastructure to support mining in Labrador West.

The funding announced today will:

• help Newfoundland and Labrador Hydro upgrade a 735-kilovolt transmission line between Churchill Falls and Labrador West;
• facilitate existing and potential iron ore and critical minerals projects in the region; and
• increase current access to hydroelectricity and, potentially, future access to wind energy.

Minister Wilkinson also took the opportunity to highlight $1 million in funding that has been provided through the Critical Minerals Geoscience Data (CMGD) initiative to the Geological Survey of Newfoundland and Labrador. This funding will:

• generate new public geoscience data to support the exploration and sustainable development of critical minerals (including cobalt, copper, nickel and platinum) in the region; and
• help position Newfoundland and Labrador mining projects as providers of choice for the minerals that are key to clean technologies such as solar panels and electric vehicle batteries.

These investments are a direct result of the collaborative work between the Government of Canada and the Government of Newfoundland and Labrador through the Canada-Newfoundland and Labrador Regional Energy and Resource Table, which released a joint Collaboration Framework on March 20, 2024, to advance the top economic priorities for a low-carbon future in the province's energy and resource sectors.

Quotes

"By making historic investments in clean electricity, we are positioning Canadians to take advantage of the economic opportunities presented by the clean economy, now and into the future. The Smart Renewables and Electrification Pathways Program is already providing Canadian communities across the country with affordable and clean power while reducing greenhouse gas emissions, and our work to expand the exploration of critical minerals across Canada is key to advancing green technologies. I am pleased to highlight three initiatives that will help advance this work in Newfoundland and Labrador, and I look forward to collaborating further with our provincial partners to secure a low-carbon future."

The Honourable Jonathan Wilkinson
Canada's Minister of Energy and Natural Resources 

"Critical minerals are a generational economic opportunity for Canada. Through funding under the Critical Minerals Geoscience Data (CMGD) initiative, the Geological Survey of Newfoundland and Labrador is paving the way for the responsible growth of industries that rely on these minerals, such as clean technology and energy."

Yvonne Jones
Parliamentary Secretary to the Minister of Northern Affairs and to the Minister of National Defence (Northern Defence) and Member of Parliament for Labrador

"Labrador West has significant critical mineral potential that can support the Canadian and global transition to a green economy. The region's high-purity iron ore resources are supporting developing green-steel supply chains as well as lower emissions in current steel manufacturing. Newfoundland and Labrador and Canada understand the importance of high-purity iron ore and have designated it as a critical mineral. Advancing the Labrador West transmission study is a strategic step in unlocking our critical mineral potential and in the decarbonization of the province's iron ore industry, and it aligns with the priorities identified in the provincial Critical Minerals Plan."

The Honourable Andrew Parsons, KC
Newfoundland and Labrador's Minister of Industry, Energy and Technology

"In 2023, 92 percent of the electricity generated for use in Newfoundland and Labrador was from renewable, net-zero sources, providing the foundation for green industrial processes. Ensuring NL Hydro's industrial customers in Labrador West have access to this clean electricity will further reduce carbon intensity, support Canada's climate policy and green global supply chains. The expansion of transmission in the area will eliminate current constraints while also helping to increase reliability in the region, creating significant benefits to the region, the province and Canada."

Jennifer Williams
President and CEO, Newfoundland and Labrador Hydro

Quick Facts

• Launched in 2021, the Smart Renewables and Electrification Pathways Program (SREPs) works with provinces, territories and Indigenous Peoples to support critical regional priority projects that reduce dependence on fossil fuel generation and create pathways for a stronger electricity system. The program also incorporates transmission and distribution infrastructure and continues to support grid modernization activities, energy storage and Indigenous-led clean energy projects. Projects can be identified through continuous engagement directly with the provincial or territorial representatives and existing work being done by the Regional Energy and Resource Tables.
• Since 2021, SREPs has approved funding for 72 projects, enabling the deployment of approximately 2,700 megawatts of new renewable energy capacity, which will produce enough electricity to power 700,000 homes annually and displace over 3.1 megatons of CO₂e per year.
• In 2023, the Government of Canada released Powering Canada Forward, its vision for transforming Canada's electricity sector and meeting its commitment to decarbonizing the country's electricity systems.
• Canada is home to almost half of the world's publicly listed mining and mineral exploration companies, with a presence in more than 100 countries and a combined market capitalization of $520 billion.
• The Canadian Critical Minerals Strategy is part of Canada's strengthened climate plan, 2030 Emissions Reduction Plan: Clean Air, Strong Economy, which advances Canada's goals of reducing greenhouse gas emissions by 40 to 45 percent below 2005 levels by 2030 and reaching net-zero emissions by 2050.
• The Critical Minerals Geoscience Data (CMGD) initiative includes $10 million in contribution funding for the provinces and territories to enhance access to important data and generate new insights on the geological potential of critical mineral sources.
• The Government of Canada is helping to develop Canada's abundant critical minerals through Regional Energy and Resource Tables. These regional tables are joint partnerships with individual provinces and territories ? in collaboration with Indigenous partners and with the input of key stakeholders ? to identify and accelerate shared economic priorities for a low-carbon future in the energy and resource sectors.

Related Products

• The Government of Canada Announces New Intake for Clean Electricity Program With $500 Million in Additional Funding (October 10, 2024)
• Canada Invests in Critical Minerals Sector at the Organisation for Economic Co-operation and Development Conference on Mining in Sudbury (October 9, 2024)

Associated Links

• Newfoundland Labrador Hydro
• Smart Renewables and Electrification Pathways Program
• Powering Canada Forward: Building a Clean, Affordable, and Reliable Electricity System for Every Region in Canada
• Canadian Critical Minerals Strategy
• Critical Minerals Geoscience Data Initiative
• 2030 Emissions Reduction Plan: Clean Air, Strong Economy
• Canada-Newfoundland and Labrador Regional Energy and Resource Table
• Regional Energy and Resource Tables

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SOURCE Natural Resources Canada