Two projects in Nipissing are receiving provincial funding through the Critical Minerals Innovation Fund (CMIF).
$500,000 is going to Drillco Mining and Exploration with just under $250,000 for Osprey Advanced Materials Corporation.
Vic Fedeli, MPP for Nipissing, says the funding is part of the government’s larger investment to help strengthen Ontario’s critical minerals supply chain, support innovation, and unlock new opportunities for economic growth across the province.
“This investment will ensure that critical minerals mined in Ontario are increasingly processed and refined in Ontario-by-Ontario workers, creating more value-added opportunities and building a stronger, more self-reliant economy,” says Fedeli.
Alex Storcheus, CEO of Osprey Advanced Manufacturing Corporation, says they’re grateful for the provincial support.
“This funding represents an important endorsement of the Titan VTM Project and its potential role in supporting Ontario’s critical minerals supply chain,” says Stocheus. “Titan is located in Angus Township Ontario, benefits from an established exploration history, and contains minerals that are highly relevant to advanced materials, industrial applications and strategic supply chains. We look forward to advancing our metallurgical research with the support of this program.”
The province says CMIF is a key initiative in the government’s plan to update its Critical Minerals Strategy to position the province as a reliable global supplier of responsibly sourced critical minerals and build fully integrated, made-in-Ontario supply chains.
