TRAIL, BC, July 7, 2026 /CNW/ – Canada is entering a new era of mining, defined by speed, scale and purpose. Introduced in Budget 2025, the new Canada Critical Minerals Accelerator (CCMA) will catalyze private sector investment, get projects built faster and secure the critical minerals Canada and the world need for economic sovereignty, national security and the energy transition.
Today, the Honourable Tim Hodgson, Minister of Energy and Natural Resources, launched the Canada Critical Minerals Accelerator (CCMA) and announced a Strategic Investment Agreement signed by the CCMA, the Canada Growth Fund (CGF) and Teck Resources Limited (Teck). The Agreement supports expanding production capacity at Teck’s Trail Operations in British Columbia, one of the world’s largest fully integrated polymetallic smelting and refining complexes.
The CCMA, a Natural Resources Canada initiative delivered by Export Development Canada (EDC), is a first-of-its-kind investment tool designed to accelerate Canadian critical mineral projects along the value chain from extraction to processing. The CCMA enables the Government of Canada to invest in projects alongside industry, moving them forward while generating investment returns that can be re-invested into more projects that create benefits for Canadians.
Teck’s Trail Operations in southern British Columbia currently produces nineteen products, employs over 1,400 people and has a long history of critical minerals production. The expansion is part of an up-to $850-million potential total investment by Teck to sustain and enhance critical minerals processing capacity at its Trail Operations from a portfolio of feed sources, which could double Trail’s existing production capacity for germanium and antimony and potentially add new gallium production capacity.
The agreement establishes the commercial framework for an equity-like investment by CGF of up to $400 million directly into the facility. Through the CCMA, the agreement allows the Government of Canada to enter into negotiations on the establishment of an offtake structure, including rights for a portion of future germanium, antimony and gallium produced by Trail. This will build on Canada’s position as a reliable global supplier of critical minerals.
The federal government is working with provinces and territories to align approaches and priorities and get projects moving through a Team Canada approach. As a priority project under British Columbia’s Look West strategy, Teck’s Trail project will also benefit from streamlined regulatory processes for any authorizations needed and the potential for support under the B.C. Strategic Investment Fund.
Today’s announcement underscores Canada’s commitment to expanding a reliable supply of the critical minerals that are key to our economic and national security. Canada is moving decisively to deliver the projects that will power our economy, strengthen and diversify our supply chains and position Canada as a trusted global supplier of critical minerals and an energy and natural resources superpower.
Quotes
“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.”
The Honourable Tim Hodgson
Minister of Energy and Natural Resources
“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 Honourable François-Philippe Champagne
Minister of Finance and National Revenue
“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.”
Yannick Beaudoin
President and Chief Executive Officer, Canada Growth Fund Investment Management Inc.
“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.”
Alison Nankivell
President and CEO, Export Development Canada
“The alignment of the Government of Canada and the Province of British Columbia in identifying the Teck Trail expansion as a priority project is based on our mutual commitment to expediting these nation-building projects that create long-lasting jobs and economic benefits for all Canadians. This project will support the critical minerals value chain and ensure long-term sustainability of Teck Trail — a prime example of the progress we’re making to grow the economy and create good jobs through our Look West strategy.”
The Honourable Jagrup Brar
Minister of Mining and Critical Minerals, British Columbia
“Teck’s Trail Operations is a cornerstone of North America’s critical minerals ecosystem. Collaboration with CGF and the Canada Critical Minerals Accelerator will help advance the opportunity we have to quickly and significantly increase production capacity for key strategic metals and help strengthen secure, responsible supply chains. By leveraging Trail’s existing infrastructure and expertise, this initiative has the potential to deliver new supply of strategic metals while providing strong returns for Teck shareholders.”
Jonathan Price
President and CEO, Teck Resources Limited
Quick Facts
Realization of the commercial arrangements contemplated by the Strategic Investment Agreement between the CCMA, CGF and Teck remains subject to certain conditions, including the negotiation and execution of definitive documentation, and satisfaction of applicable approvals.Critical minerals are essential inputs for everyday products like medical devices; defence technologies; and the energy transition, as a key input in technologies like electric vehicles and solar panels.Global markets for these minerals can be concentrated and volatile. The CCMA provides the certainty companies need to move forward with higher-risk projects that unlock Canada’s significant critical minerals deposits.With the CCMA, Canada is taking a novel approach to public investment by investing alongside industry, which reduces risk and unlocks capital at scale. Unlike traditional grants and contributions, the CCMA uses investment tools that generate returns that can be reinvested over time, delivering lasting economic benefits for Canadians. The CCMA will also be leveraged to build Canada’s national stockpile of critical minerals.Strong co-ordination, governance and expertise will underpin every investment under the CCMA. Natural Resources Canada will guide strategic policy direction, Export Development Canada will lead the execution of investments, and final decisions will be made by a dedicated Ministerial Investment Board. This ensures discipline, transparency and alignment with Canada’s economic and national security priorities.The Canada Critical Minerals Accelerator supports the Canadian Critical Minerals Strategy, which is designed to capture more value at home while strengthening supply chain resilience. Budget 2025 announced $2 billion over five years to establish the Critical Minerals Sovereign Fund — now the CCMA — reinforcing Canada’s position as a reliable global supplier and a top destination for responsible critical minerals investment.
Related Products
Teck, Canada Growth Fund and Canada Critical Minerals Accelerator sign Agreement to Support Strategic Metals Production at Trail Smelter
Associated Links
Canada Critical Minerals AcceleratorCanada’s Critical Minerals StrategyBudget 2025: Canada StrongCanada Growth FundExport Development CanadaTeck Resources Limited
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