“To achieve these concurrent Canadian and American funding opportunities is a win for Quebec, Canada, and the United States as we approach a next phase of studies,” Lomiko’s chief executive Belinda Labatte said in the statement.
“It will help advance supply chain resilience and create job opportunities in Canada,” Labatte added. Lomiko’s mine is also expected to generate high-quality graphite for defense applications and the growing electric vehicle (EV) market in North America.
The other Canadian junior to receive a shot in the arm is Fortune Minerals (TSX: FT, which had already been granted funds, in December and March this year, to advance its longstanding NICO cobalt-gold-bismuth-copper project in the Northwest Territories.
The Canadian contribution is part of a larger $2.8 billion (Cdn$3.8bn) fund for the critical minerals sector that was announced in the Canadian federal government’s 2023 budget.
The US…
