Canada has formally launched the Canada Critical Minerals Accelerator (CCMA), pairing the new federal investment program with its first Strategic Investment Agreement to expand critical mineral processing capacity at Teck Resources’ Trail Operations in British Columbia.
Announced by Minister of Energy and Natural Resources Tim Hodgson, the agreement brings together the CCMA, the Canada Growth Fund (CGF) and Teck Resources to support a potential investment of up to $850 million at Trail, one of the world’s largest fully integrated polymetallic smelting and refining complexes.
The expansion is designed to strengthen Canada’s domestic processing capabilities for critical minerals that are increasingly important for defence, advanced manufacturing, clean technologies and secure global supply chains.
Teck’s Trail Operations currently produces 19 products, employs more than 1,400 people and is Canada’s only producer of germanium. The planned investment could double the facility’s production capacity for germanium and antimony while potentially adding new gallium production capacity from a portfolio of feed sources.
The CCMA, introduced in Budget 2025 as a Natural Resources Canada initiative delivered by Export Development Canada (EDC), is designed to accelerate Canadian critical mineral projects across the value chain, from extraction through processing. Rather than relying solely on grants, the program enables the federal government to invest alongside industry, with returns recycled into future projects.
The Strategic Investment Agreement establishes the commercial framework for an equity-like investment by the Canada Growth Fund of up to $400 million in the Trail expansion. It also enables negotiations on an offtake structure that could provide Canada with rights to a portion of future germanium, antimony and gallium production, reinforcing the country’s position as a reliable supplier of strategically important minerals.
The project also aligns with British Columbia’s Look West strategy, giving it access to streamlined provincial regulatory processes and potential support through the province’s Strategic Investment Fund.
“Canada has what the world wants, and we are moving decisively to get projects built faster so we can provide for ourselves and our partners. Our new Canada Critical Minerals Accelerator is about turning Canadian resource abundance into real projects by giving industry the certainty to invest and grow, even in a volatile global market. By working with companies like Teck, aligning with provinces and territories and partnering with the Canada Growth Fund and Export Development Canada, we are using every tool in our toolbox to build Canada Strong,” expressed the Honourable Tim Hodgson, Minister of Energy and Natural Resources.
Finance Minister François-Philippe Champagne said the new accelerator is intended to strengthen Canada’s long-term economic resilience while supporting domestic resource development:
“Today’s Critical Minerals Accelerator agreement marks a significant milestone in strengthening our economic resilience and securing the critical resources that will power the global transition to cleaner technologies. By pursuing strategic investment agreements in Canada’s abundant critical minerals sector, we are driving innovation, creating good-paying jobs and reinforcing Canada’s role as a trusted partner in building resilient and sustainable global supply chains. The Accelerator will help unlock long-term prosperity by ensuring Canadians benefit from the responsible development of our natural resources — supporting stronger communities, a more competitive economy and lasting opportunities for generations to come.”
The Canada Growth Fund will provide the financial structure for the investment.
“Leveraging its unique expertise and ability to implement bespoke structured financial instruments, CGF’s investment will support the advancement of the expansion of Canada’s only germanium-producing smelter, a critical mineral essential to applications related to national security. Canada Growth Fund Investment Management Inc. is pleased to once again put its experience to work in support of the Government of Canada’s establishment of a third offtake agreement that positions Canada as a reliable partner of choice for global partners seeking access to important critical minerals,” stated Yannick Beaudoin, President and Chief Executive Officer, Canada Growth Fund Investment Management Inc.
Export Development Canada will deliver the accelerator and help structure financing alongside government and industry partners.
“The Canada Critical Minerals Accelerator plays an important role in strengthening the domestic production and development of critical minerals, helping ensure Canada and its partners have reliable access to materials essential to defence, security and advanced industries. Drawing on EDC’s financing expertise, we can structure and arrange solutions that bring together partners — including other export credit agencies and private investors. We’re pleased to be working in close collaboration with Natural Resources Canada, Teck and the Canada Growth Fund to help expand processing capacity here at home,” said Alison Nankivell, President and CEO, Export Development Canada.
