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Government of Canada Announces $10 Million to Support Critical Minerals Mining in Northern Ontario

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SUDBURY, ON, June 10, 2024 /CNW/ – Critical minerals present a once-in-a-generation chance for Canada to drive historic economic growth, create jobs and support the fight against climate change. Already, mining and related industries employ more than 625,000 Canadians and contribute around $100 billion a year to Canada’s GDP, providing a strong supply chain and technical expertise we can leverage. As a global battery metals hub with the world’s largest integrated mining industrial complex and world’s second-largest nickel deposit, Northern Ontario is uniquely well positioned to seize this opportunity and become a key player as the shift to electric vehicles and other technology requiring nickel and other critical minerals grows.

Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced two investments of $5 million each to the Mining Innovation Rehabilitation and Applied Research Corp (MIRARCO) and Electra Battery Materials Corporation (Electra) to support the critical minerals sector in Canada, and in Northern Ontario specifically. These projects join nearly 130 mining projects under construction or planned over the next 10 years in Canada, representing a combined value of $93.5 billion, according to Natural Resources Canada’s Major Projects Inventory.

Funding to MIRARCO aims to advance technological readiness of the recovery of battery metals like nickel, cobalt and copper from mine tailings from the Vale and Glencore mines in the Greater Sudbury area, while reducing the long-term social and environmental costs associated with mine waste. Through this project, MIRARCO will directly feed into the battery supply chain, potentially unlocking significant amounts of nickel and cobalt in Sudbury, Ontario.

Funding to Electra will be used to advance the next phase of its battery materials recycling project. Electra is constructing North America’s only battery grade cobalt refinery, five hours north of Toronto, as part of a multiphase effort to build the North American supply chain for battery materials. Electra successfully ran a demonstration recycling program on a batch basis at this facility in 2023. Today’s funding advances the project, demonstrating the process on a continuous basis and showing that Electra’s proprietary technology is scalable, profitable and can be implemented at other locations. The battery materials recycling program will help conserve resources, reduce waste and reduce the environmental impact of battery production in North America’s critical minerals sector. Electra’s recycling program uses a new environmentally conscious process that will contribute to building a resilient Canadian electric vehicle battery supply chain.

For a historic mining nation like Canada — where we have residuals and tailings in communities across the nation — technologies like these present a significant opportunity to increase circularity in our economy and turn mining residuals and waste into an economic opportunity for Canadians. Funding for these projects comes from the Critical Minerals Research, Development and Demonstration (CMRDD) program. The CMRDD aims to support the development of innovative processing technologies for the critical minerals industry, which will help advance Canadian mining projects toward production and is part of Canada’s Critical Minerals Strategy

Creating domestic processing streams and developing further expertise within Canada will create and grow jobs and help us move toward a sustainable, prosperous low-carbon future. By making smart investments like those in MIRARCO and Electra, Canada is ensuring our natural resources, and the workers and economic benefits they bring to Northern Ontario and Canada, remain among the most sought after in the world, spurring innovation and helping us meet climate goals. We will continue to invest to advance Northern Ontario’s mining industry and fuel social and economic growth, while creating jobs and opportunities for families throughout the region.

Quotes

“Today’s total investment of $10 million to Electra and MIRARCO will help to advance the development of dynamic and competitive critical minerals value chains in Canada and Northern Ontario. This funding will increase mineral and energy security, create good jobs and support economic opportunities — supporting our work to build a cleaner Canada and a prosperous, sustainable economy that works for everyone.” 

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources 

“Our government is making transformative investments that will have an impact on every future generation. We recognize the time is now to invest in critical minerals. It’s about seizing this time of change and opportunity to create a prosperous economy for all. With these investments in MIRARCO and Electra, we are ensuring Canada remains a global leader in resource extraction and paves the way as we transition to a clean economy.”

Viviane Lapointe
Member of Parliament for Sudbury

“The increasing demand for critical minerals and the products made from them provides Nickel Belt – Greater Sudbury with another opportunity to highlight its industrial diversification, high-quality work force and sustainable development capabilities. Organizations like MIRARCO and Electra are at the forefront of the green transition and their work strengthens Canada’s position as a leading global supplier of essential resources and clean technology. This is crucial for building a prosperous net-zero economy!”

Marc G. Serré
Member of Parliament for Nickel Belt, Parliamentary Secretary to the Minister of Energy and Natural Resources, and Parliamentary Secretary to the Minister of Official Languages

“On behalf of MIRARCO and our research collaborators, I am sincerely grateful to the Government of Canada for its generous funding and unwavering support. This $5-million investment will significantly enhance our collaborative efforts to advance bioleaching technologies, fostering sustainable and efficient recovery of battery metals from pyrrhotite-rich tailings. MIRARCO is committed to delivering these innovative solutions and training the future workforce to help Canada achieve a prosperous and sustainable low-carbon future.”

Nadia Mykytczuk, PhD
CEO and President, Mining Innovation Rehabilitation and Applied Research Corp.

“Today’s funding announcement is a clear signal from the Government of Canada of its ongoing commitment to creating a strong, sustainable EV supply chain. Our recycling project is part of the growth plan for our Ontario refinery complex, and we are thankful for this investment as it allows us to speed up the development of our proprietary critical minerals recycling technology. Electra’s battery recycling expertise can contribute to the production of clean, secure and ethically sourced materials for the EV supply chain in North America.

“Recycling of battery materials will become more critical as the EV industry expands within North America. We are strengthening our development timelines through our partnerships with government and industry, such as with Three Fires Group with which we are exploring developing a battery material shredding facility in Ontario. Our refinery is positioned to be the first-of-its-kind for recycling, a low-carbon hydrometallurgical black mass facility in North America and could provide recycling as a service to the many gigafactories coming to Ontario.”

Trent Mell
CEO, Electra Battery Materials Corporation

Quick Facts

According to an independent ranking from BloombergNEF, Canada has surpassed China as the world’s most promising jurisdiction for manufacturing lithium-ion batteries such as those used in electric vehicles.Funding for these projects comes from the Critical Minerals Research Development and Demonstration (CMRDD) program. The CMRDD aims to support the development of innovative processing technologies for the critical minerals industry, which will help advance Canadian mining projects toward production.To guide the advancement of our critical minerals supply chain and clean economy, the Government of Canada publishes a Critical Minerals List. Updated on June 10, 2024, the most recent list can be found here.Budget 2021 provided $47.7 million to the CMRDD program to support the development of Canadian critical minerals value chains.On September 29, 2023, the CMRDD program concluded its second call for proposals. Projects selected for this program will contribute to developing vital mineral resources and value chains that will facilitate the shift to a low-carbon economy and support advanced manufacturing and technology in an environmentally conscious manner.Last month, we announced that $11 million from industrial pollution pricing proceeds will go to Glencore Canada Corporation to replace diesel-powered machinery with battery electric-powered equipment at the Craig Mine Onaping Depth Project in Ontario. The fully implemented project will result in a reduction of over 5,500 tonnes of greenhouse gas emissions in 2030.Funding for Electra builds on earlier investments in their project by the Federal Economic Development Agency for Northern Ontario in 2024 and 2020 to accelerate domestic production of battery-grade cobalt sulfate, a required element needed to produce long-range electric vehicles.

Related Information 

Canadian Critical Minerals Strategy
Government of Canada Launches Second Call for Proposals for Critical Minerals Research Development and Demonstration Program
Government of Canada investing $5 million to support the development of the electric vehicle supply chain in Northern Ontario
Canada cuts carbon pollution with funding for Glencore Canada Corporation project
Electra Battery Materials
MIRARCO Mining Innovation

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SOURCE Natural Resources Canada

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Wise introduces first-of-its-kind multi-currency Interest feature in Canada

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Wise customers can now opt in to earn market-leading returns on CAD, USD, EUR and GBP from the convenience of one multi-currency accountCustomers opted in can continue to send, spend and convert funds while earning a return, with no penalties or minimum balance requirements

TORONTO, May 4, 2026 /CNW/ – Wise, the global technology company building the best way to move and manage the world’s money, today announced the launch of its new Interest feature for people and businesses in Canada. Wise is the first provider in Canada to enable customers to earn a return on balances held across multiple currencies within one consolidated account.

Millions of Canadians send international payments each year, with outbound remittances and cross-border commercial activity steadily increasing, according to public data from Payments Canada. However, options for holding and growing money across multiple currencies have historically required opening separate accounts with financial providers in each currency. These accounts often come with minimum balance thresholds and promotional rates that get more expensive over time. Wise Interest removes these barriers for Canadians.

Eligible customers can now opt into the new Interest feature to earn a market-leading return on balances held in CAD, USD, EUR and GBP from the convenience of their Wise multi-currency account. Once opted in, customers can continue to hold, spend, send and convert their money internationally from their balances with no penalties or minimum balance requirements.

Key features of the new feature include:

Earn market-leading returns across currencies: Opt in to Interest and earn 2.22% in CAD, 3.14% in USD,  0.8% in EUR and 2.21% in GBP from the convenience of the Wise multi-currency account*Instant access to your funds: Continue to hold, spend, send funds internationally with no minimum balance requirements or lock-up periodsSimple opt-in: Activate the feature in just a few taps within the Wise app

Vinay Nilakantan, Head of Product for North America at Wise, said: “Earning a return on your money across currencies shouldn’t require opening and managing multiple accounts or giving up access to your funds — but that’s the reality many Canadians have grown accustomed to. With Wise’s Interest feature, we’re changing that. We’re offering a more flexible way for our customers to make their money work harder across currencies, combining market-leading returns with the ability to use funds instantly, all in one convenient account.”

This launch builds on Wise’s growing momentum in Canada, where its active customer base grew by more than 30% in FY25. As Wise continues to scale in the market, it is investing in local infrastructure to better serve its growing customer base. Wise became a member of Payments Canada earlier this year, making it eligible to apply for direct participation in Canada’s national payment systems, including ACSS, Lynx and the forthcoming Real-Time Rail. Over time, this direct access to local payment infrastructure would enable Wise to move money faster and reduce costs further for Canadians and people sending to and from Canada.

*To find out more about Wise’s Interest feature in Canada, please visit http://www.wise.com/ca/interest

About Wise

Wise is a global technology company, building the best way to move and manage the world’s money. With Wise Account and Wise Business, people and businesses can hold 40 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new network for the world’s money. Launched in 2011, Wise is one of the world’s fastest growing, profitable tech companies.

In fiscal year 2025, Wise supported around 15.6 million people and businesses, processing over $185 billion USD in cross-border transactions and saving customers around $2.6 billion USD.

Media Contact: Samantha Krupa‑Carbone, skrupa-carbone@national.ca

SOURCE WISE

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Ecobat Completes Sale of Germany & Austria Operations to Clarios, Marking Exit from European Lead Market

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DALLAS, May 4, 2026 /PRNewswire/ — Ecobat, a global leader in battery recycling, today announced the successful completion of the sale of its battery recycling and specialty lead operations in Germany and Austria to Clarios, a global leader in advanced energy storage solutions. The transaction encompasses Ecobat’s facilities in Freiberg and Braubach, Germany, as well as the Arnoldstein operation in Austria.

This sale, together with previously completed divestitures in France, Italy, and the United Kingdom, marks Ecobat’s exit from the European lead market and the completion of a multi-transaction repositioning of its Resources division.

“The sale of our Germany and Austria operations is a defining milestone for Ecobat,” said Tom Slabe, President and Chief Executive Officer of Ecobat. “With our European lead footprint now fully transitioned to new ownership, Ecobat is positioned as a focused North American platform. We will continue to pursue opportunities to maximize value for shareholders as we build on that foundation.”

Mr. Slabe added, “Clarios’ expertise and strategic vision offer a strong foundation for the continued success of these operations in Germany and Austria. We’re confident they will continue to foster and enhance the valued relationships we have built with our employees, customers, and suppliers across Europe.”

Rothschild & Co acted as financial advisor and White & Case as legal advisor to Ecobat on the transaction.

About Ecobat

Ecobat is the world’s largest recycler of batteries with global operations. The company delivers innovative solutions for battery recycling, resource recovery and energy storage by responsibly managing valuable materials essential to modern life.

About Clarios

Clarios is the global leader in advanced, low-voltage battery technologies for mobility and owner of the brand VARTA in the automotive sector. Our batteries and smart solutions power nearly every type of vehicle and are found in 1 of 3 cars on the road today. With around 18,000 employees in over 100 countries, we bring deep expertise to our Aftermarket and OEM partners, and reliability, safety and comfort to everyday lives. We answer to the planet with a rigorous sustainability focus – advancing best-in-class sustainability practices and advocating for them across our industry. We work to ensure 100% of our products sold are recyclable, and we recycle 8,000 batteries an hour in our network.

For Media Inquiries:

Elizabeth Tuma

Ecobat

Press@Ecobat.com

1-888-317-4687 ext. 703

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SOURCE Ecobat

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Hyperscale Data to Launch 20-Week Business Spotlight Series to Highlight the Scale, Scope and Value of Its Operations

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Company Plans Weekly Monday Releases to Help Investors Better Understand Businesses Owned Directly and Through Ault Capital Group; Management Believes Hyperscale Data’s Assets and Operating Businesses Are Not Fully Reflected in the Company’s Market Valuation

LAS VEGAS, May 4, 2026 /PRNewswire/ — Hyperscale Data, Inc. (NYSE American: GPUS), an artificial intelligence (“AI”) data center company anchored by Bitcoin (“Hyperscale Data” or the “Company”), today announced that it plans to launch a 20-week business spotlight series, with a new press release expected to be issued each Monday morning, highlighting the Company’s businesses, subsidiaries, assets and strategic initiatives owned directly and through its wholly owned subsidiary, Ault Capital Group, Inc. (“ACG”).

Management believes that the market does not fully appreciate the scale and breadth of the platform Hyperscale Data has built, the operations it conducts through acquisitions, internal development and ongoing investment or its resulting long-term growth opportunities. Through this 20-week series, Hyperscale Data intends to provide investors, stockholders and the broader market with enhanced transparency into its business, including its AI data center strategy, Bitcoin treasury and digital asset initiatives, robotics platform, financial services, lending operations, market platforms, defense-related businesses, energy services and other strategic assets.

The Company expects that more consistent and detailed communication may assist investors in more fully evaluating Hyperscale Data as a diversified operating platform with multiple potential growth drivers.

Management has previously indicated that it believes the Company has the potential to generate between $180 million and $200 million in annual revenue across its operating businesses for its fiscal year 2026, based on current operations and internal estimates. These expectations are forward-looking, subject to a variety of risks and uncertainties, and actual results may differ materially.

The 20-week series is expected to highlight businesses and strategic initiatives across the Hyperscale Data ecosystem, including, among others:

Infrastructure, AI, Digital Asset Platform and Robotics

Hyperscale Data’s AI data center infrastructure and strategy;The Company’s Bitcoin treasury and digital asset strategy;Sentinum, Inc. and its Bitcoin mining operations;Omnipresent Robotics, LLC and robotics and data collection opportunities;Ault Blockchain and blockchain-related initiatives; andDigital asset market-making, decentralized finance and tokenization initiatives, including through strategic investments, partnerships and other arrangements.

Financial Services and Market Platforms

ACG and its financial services platform;Ault Lending, LLC and its private credit activities;Ault Markets, Inc. and financial technology initiatives;askROI, Inc. and AI-powered software solutions; andOnlyBulls and consumer financial technology offerings.

Industrial, Energy and Defense Operations

Gresham Worldwide, Inc. and its defense and mission-critical operations;TurnOnGreen, Inc. and its design and manufacturing of power products for mission-critical applications across defense, healthcare, industrial and other sectors; andCircle 8 Crane Services, LLC and energy services.

Additional operating subsidiaries, investments and strategic assets that management believes are important to understanding the overall enterprise may also be highlighted among this series of press releases.

Milton “Todd” Ault III, Executive Chairman of Hyperscale Data, stated, “We believe Hyperscale Data is not yet fully understood by the market. Over the last several years, we have assembled a broad operating platform spanning AI data centers, Bitcoin and digital assets, robotics, financial services, lending, market platforms and defense-related businesses. Through this spotlight series, we intend to provide greater transparency into our operations and strategy, and to help investors better understand how these businesses may contribute to our long-term growth objectives as they continue to scale and integrate.”

The Company reserves the right to either issue press releases of the kind described in this announcement on Monday afternoons in the event that management believes a different kind of press release must be issued on Monday mornings or not issue them for a particular Monday at all. Further, the Company reserves the right to terminate the 20-week spotlight series in its entirety at any time.

For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

About Hyperscale Data, Inc.

Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging AI ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

Hyperscale Data currently expects the divestiture of ACG (the “Divestiture”) to occur in the second quarter of 2027. Upon the occurrence of the Divestiture, the Company would be an owner and operator of data centers to support high-performance computing services, as well as a holder of the digital assets. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, equipment rental services, defense/aerospace, industrial, automotive and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through Ault Lending, LLC, a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be shareholders of ACG upon the occurrence of the Divestiture.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

 

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SOURCE Hyperscale Data Inc.

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