Mentioned:
Canada is making a new bet on critical minerals. And they’re partnering up with Teck Resources to do it.
What’s happening:
- The Canadian government has committed up to $400M CAD of funding to Teck Resources (NYSE: TECK) to scale up production at their smelting and refining complex located in Trail, British Columbia
Why it matters:
- Teck Resources’ smelting and refining complex in Trail, British Columbia is focused on large scale production of multiple critical minerals including germanium, gallium and antimony
Going deeper:
- The Canadian government has publicly stated they intend to structure their new funding commitment with equity rights and not as a traditional grant
- Teck Resources and the Canadian government plan to collaborate on developing an offtake deal which would allow a portion of future production of critical minerals to be used by Canada to support allied partners in semiconductor manufacturing, national security and clean energy
