Scandium Canada (TSX-V:SCD) has signed a non-refundable contribution agreement for up to C$6.91 million ($7.12 million) under Natural Resources Canada’s Global Partnership Initiative (GPI) for the Crater Lake Project in Québec, Canada.
The GPI contribution represents 69% of the project costs presented and will be used to scale up Scandium Canada’s patent-pending processes for the beneficiation, extraction and purification of scandium and rare earths.
This will be conducted through mineral processing testwork and by progressing the FEL-3 engineering standards, completing detailed design and specifications, and developing a comprehensive cost estimate and execution schedule.
Scandium Canada says the federal support reflects the strategic value of the Crater Lake Project, its proprietary aluminium-scandium alloys and the strength of the company’s scientific expertise and international partnerships.
In parallel, the government support unlocks value for the company’s strategic partners, without waiting for the Crater Lake mine to reach full production, through its Scandium+ division.
CEO Guy Bourassa says NRCan’s support is a crucial milestone that provides non-dilutive funding through 2028, allowing the team to focus entirely on execution.
“Together with our international partners, we will accelerate the development of Crater Lake while continuing to advance our Scandium+ alloy commercialisation efforts, demonstrating to the world that Canada is a reliable, world-class supplier of the critical materials our allies can depend on, supported by highly competent technical people,” Bourassa says.
The Global Partnerships Initiative is a Natural Resources Canada program designed to support the development of critical minerals projects in Canada. The GPI program aims to strengthen domestic supply chains and advance Canada’s position as a reliable supplier of critical minerals to global markets, particularly to allied nations seeking to reduce dependency on foreign sources.
Scandium Canada is a developer focused on bringing the world’s leading primary source of scandium into production, enabling the development and commercialisation of aluminium-scandium alloys.
Write to Aaliyah Rogan at Mining.com.au
Images: Scandium Canada
