Story perspectives

Canada's $2B Fund Sparks Critical Minerals Merger Frenzy

1/6/2026

Center

Canada Invests in Minerals

In 2026, the Canadian federal budget allocates $2 billion to a Critical Minerals Sovereign Fund to support critical minerals projects amid industry consolidation.
The proposed $50 billion merger between Anglo American and Teck Resources is under national-security review.
Companies such as Coeur Mining are pursuing acquisitions to enhance operational stability.
As competition for critical minerals intensifies, 2026 is pivotal for mergers and acquisitions in the sector.

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Local Opposition Intensifies

The Lomiko Metals graphite mine project in the Outaouais region faces strong local opposition after an August 2025 referendum showing 95% oppose the project.
The Pentagon has invested $8.3 million in the project, intensifying resistance.
Louis St-Hilaire, a local leader, says the initiative shifted from green aims to military involvement.
The provincial government refused to fund the project, while federal support continues and Lomiko Metals processes site samples.

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Canada Invests in Minerals

In 2026, the Canadian federal budget allocates $2 billion to a Critical Minerals Sovereign Fund to support critical minerals projects amid industry consolidation.
The proposed $50 billion merger between Anglo American and Teck Resources is under national-security review.
Companies such as Coeur Mining are pursuing acquisitions to enhance operational stability.
As competition for critical minerals intensifies, 2026 is pivotal for mergers and acquisitions in the sector.

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