QSA's Week in Mining (#4, 2025)
Canada invests $41M in Foran Mining; $3.2M for Wabi Iron & Steel; $960K for Greater Sudbury economic development; Linamar gets $169.4M for green tech.
Start Date: 2025-01-25
End Date: 2025-01-31
Top Headlines
Main Stories
Canada Invests $41 Million in Foran Mining's Carbon-Neutral Project
The Government of Canada has announced a $41 million investment in Foran Mining Corporation to develop a carbon-neutral copper project in Saskatchewan. This funding will enable the implementation of clean technologies, including a battery-electric vehicle fleet and a water recycling system. The project at McIlvenna Bay mine promises to be a model for sustainable mining, maintaining nearly 400 full-time jobs and boosting economic opportunities for Indigenous communities. This initiative aligns with Canada's Critical Minerals Strategy to enhance domestic supply chains.
Sources: Announcements: www.canada.ca
FedNor Supports Wabi Iron & Steel with $3.2 Million Investment
Wabi Iron & Steel Corp. in Northern Ontario will receive $3.2 million from the Federal Economic Development Agency for Northern Ontario (FedNor) to expand its foundry. This investment will facilitate the purchase of energy-efficient equipment, enabling the production of larger products and tripling revenue by 2027. The project is expected to create 43 new jobs and bolster the region's manufacturing sector, positioning it as a leader in critical minerals and the mining supply chain.
Sources: Announcements: www.canada.ca
