Ontario’s provincial government has released a new report, letting the world know that it is open for business and investment, with nuclear energy and critical minerals at the heart of that story.
Premier Doug Ford’s latest report opens by noting Ontario’s nuclear advantage as the province positions itself as a “global energy superpower”, powered by clean, reliable, and affordable nuclear energy.
On the critical minerals front, Ford highlights the Ring of Fire as one of the most significant untapped critical minerals deposits giving Ontario a leg up. The region is a key supplier of the minerals needed across clean energy, electric vehicles (EVs), defence, advanced manufacturing, and AI.
The Canadian province is attracting investment across both nuclear energy and critical minerals, noting that over C$235 billion ($236.9 billion) in new investment has entered Ontario in less than a decade, creating over 1 million new, well-paid jobs.
Building Ontario’s critical minerals future
Ontario’s Ring of Fire, in the north of the province, is an area of about 8,000km2 and is well known as one of the most promising mineral development opportunities in the world. It contains a vast supply of critical minerals, including chromite, copper, nickel, platinum, and titanium.
The government is focused on building roads to the region and streamlining permitting through One Project, One Process, which is focused on helping strategic projects get built faster.
The One Project, One Process framework is an integrated approach to permitting and approvals. A Mine Authorisation and Permitting Delivery Team provides dedicated support on project management, coordinates Indigenous consultation, and aligns all key steps in the application, review, and decisions processes for permits, authorisations, and approvals a project needs.
Ontario launched a critical minerals strategy in 2022, which was initially a five-year roadmap for the province’s positioning as a global leader in responsibly sourced critical minerals. Following the launch of that strategy, Ontario’s critical minerals production grew by 41% year-on-year.
More recently in December 2025, Ontario’s government launched a C$500 million critical minerals processing fund, signalling the province’s intent on developing the full value chain for critical minerals. This fund notes that critical minerals mined in Ontario are to be processed and refined in Ontario too.
Ontario’s drive in the critical minerals space is not only reshaping the province’s industrial landscape, but also opening the door for juniors to step into the spotlight. With billions flowing into infrastructure, streamlined permitting, and processing, smaller explorers and developers have a clear path to advance projects.
This environment and the government’s support are creating opportunities for early-stage companies to secure funding, accelerate timelines, and align themselves with Ontario’s ambitions as a global leader in clean energy and critical minerals supply chains.
Canuc Resources (TSX-V:CDA) is exploring an iron oxide copper-gold-style discovery in Sudbury, Ontario, a region known to host four major fault zones with a legacy of ‘high-grade’ copper and gold mines dating back to 1904.
In mid-August 2026, the company launched a ‘major’ airborne gravity survey at the East Sudbury Project (ESP), as it looks to identify deeper exploration targets across areas of gold and copper mineralisation.
Canuc recently announced a new gold mineralised zone (Zone Two) next to the East-West Pit at ESP. Drilling is ongoing at Zone Two, with Canuc planning to incorporate results into a maiden mineral resource for ESP in the near-future.
Libra Energy Materials (CSE:LIBR) is advancing an expanded portfolio in Canada, having acquired two new lithium projects in the Eeyou Istchee James Bay region in Québec in mid-August 2026.
The company has a rapidly expanding portfolio of over 30 projects spanning Canada and Brazil and across rare earth elements, gallium, graphite, and lithium, with a focus on low-cost but high-impact exploration work.
Libra is positioning itself for the next phase of the lithium cycle, strengthened by the company’s first-mover advantage in Canada’s new lithium districts and an earn-in agreement with KoBold Metals validating the work the company is doing across its portfolio.
SPC Nickel (TSX-V:SPC) is advancing through its 2026 summer field season at the wholly owned Muskox Copper-Nickel-Platinum Group Metal (Cu-Ni-PGM) Project in Nunavut, Canada, and positioning for a focused and effective 2027.
The company has a four-year plan in place focused on exploration and drilling to prove up the Muskox Project, while also continuing drilling at the Lockerby East Property in the Sudbury Mining district of Ontario.
SPC Nickel’s Lockerby East targets nickel, copper, and PGMs, aligning directly with Ontario’s ambitions to supply the EV and clean energy sectors.
Transition Metals (TSX-V:XTM) is a multi-commodity explorer, advancing both critical minerals and precious metals assets across Canada that tie into both Ontario and Canada’s push for supply chain growth.
The company has a portfolio of projects around Ontario’s Thunder Bay district with known platinum group element (PGE) mineralisation. It is focused on the Saturday Night PGM-Cu-Ni Project, which shows potential for underground mining opportunities.
Transition’s latest acquisition is the Empire Lake Vanadium Project, also northwest of Thunder Bay, which hosts vanadium-rich magnetite zones up to 170m thick. The company is seeking partners to advance exploration at this latest project.
Ontario’s critical minerals strategy is creating a powerful backdrop for juniors like Canuc Resources, Libra Energy Materials, SPC Nickel, and Transition Metals to advance exploration and development.
With streamlined permitting under the One Project, One Process framework, billions in infrastructure investment, and a C$500 million processing fund supporting in-province processing, Ontario is positioning itself as a global leader in clean energy and resource security.
For early-stage explorers, this means not only access to capital and faster timelines, but also the chance to align directly with government priorities in EVs, defence, and advanced manufacturing.
Write to Amy Rotman at Mining.com.au
Main image: Libra Energy Materials
