Critical Elements Lithium (CRECF) has received conditional approval for up to $20 million in federal funding from the Government of Canada’s Critical Minerals Infrastructure Fund (CMIF). The funding will support the relocation of 4.2 kilometres of power transmission line infrastructure and construction of a new electrical sub-station for the Rose Lithium-Tantalum Project in Eeyou Istchee James Bay, Québec.
The CMIF is Natural Resources Canada’s flagship program under the Canadian Critical Minerals Strategy, aimed at increasing critical minerals supply and developing national and global value chains for a green economy. The funding is subject to final due diligence, definitive documentation, and other customary conditions.
The project highlights Critical Elements’ commitment to sustainable development and strong relationships with Cree neighbors, formalized through the Pihkuutaau Agreement of July 2019. The company aims to become a major supplier of high-quality spodumene concentrate for the electric vehicle and energy storage industries.
Critical Elements Lithium (CRECF) ha ricevuto l’approvazione condizionata per un finanziamento federale fino a 20 milioni di dollari da parte del Governo del Canada attraverso il Critical Minerals Infrastructure Fund (CMIF). Il finanziamento supporterà la rilocazione di 4,2 chilometri di infrastruttura di linee di trasmissione elettrica e la costruzione di una nuova sottostazione elettrica per il Progetto Rose Lithium-Tantalum a Eeyou Istchee James Bay, Québec.
Il CMIF è il programma di punta delle Risorse Naturali del Canada nell’ambito della Strategia canadese sui minerali critici, volto ad aumentare l’offerta di minerali critici e a sviluppare catene di valore nazionali e globali per un’economia verde. Il finanziamento è soggetto a verifica finale, documentazione definitiva e altre condizioni consuete.
Il progetto evidenzia l’impegno di Critical Elements per uno sviluppo sostenibile e forti relazioni con i vicini Cree, formalizzate attraverso l’Accordo Pihkuutaau del luglio 2019. L’azienda mira a diventare un fornitore principale di concentrato di spodumene di alta qualità per le industrie dei veicoli elettrici e dello stoccaggio di energia.
Critical Elements Lithium (CRECF) ha recibido la aprobación condicional para un financiamiento federal de hasta 20 millones de dólares del Gobierno de Canadá a través del Critical Minerals Infrastructure Fund (CMIF). El financiamiento apoyará la reubicación de 4.2 kilómetros de infraestructura de líneas de transmisión eléctrica y la construcción de una nueva subestación eléctrica para el Proyecto Rose Lithium-Tantalum en Eeyou Istchee James Bay, Quebec.
El CMIF es el programa insignia de Recursos Naturales de Canadá bajo la Estrategia Canadiense de Minerales Críticos, destinado a aumentar el suministro de minerales críticos y desarrollar cadenas de valor nacionales y globales para una economía verde. El financiamiento está sujeto a la debida diligencia final, documentación definitiva y otras condiciones habituales.
El proyecto resalta el compromiso de Critical Elements con el desarrollo sostenible y las fuertes relaciones con los vecinos Cree, formalizadas a través del Acuerdo Pihkuutaau de julio de 2019. La empresa aspira a convertirse en un proveedor importante de concentrado de espodumena de alta calidad para las industrias de vehículos eléctricos y almacenamiento de energía.
크리티컬 엘리먼츠 리튬(CRECF)는 캐나다 정부의 중요 광물 인프라 기금(CMIF)으로부터 최대 2000만 달러의 연방 자금 지원에 대한 조건부 승인을 받았습니다. 이 자금은 퀘벡의 Eeyou Istchee 제임스 베이에 있는 로즈 리튬-탄탈럼 프로젝트를 위해 4.2킬로미터의 전력 전송선 인프라를 이전하고 새로운 전기 변전소를 건설하는 데 사용될 것입니다.
CMIF는 캐나다의 중요한 광물 전략 아래 자연 자원의 캐나다의 주요 프로그램으로, 중요한 광물 공급을 증가시키고 녹색 경제를 위한 국가 및 글로벌 가치 사슬을 개발하는 것을 목표로 하고 있습니다. 이 자금은 최종 실사, 최종 문서화 및 기타 일반적인 조건에 따릅니다.
이 프로젝트는 지속 가능한 개발과 Cree 이웃과의 강한 관계에 대한 Critical Elements의 약속을 강조하며, 이는 2019년 7월 Pihkuutaau 협정을 통해 공식화되었습니다. 이 회사는 전기차 및 에너지 저장 산업을 위한 고품질 스포듐렌 농축물의 주요 공급자가 되는 것을 목표로 하고 있습니다.
Critical Elements Lithium (CRECF) a reçu une approbation conditionnelle pour un financement fédéral pouvant atteindre 20 millions de dollars du gouvernement canadien par le biais du Critical Minerals Infrastructure Fund (CMIF). Ce financement soutiendra le déplacement de 4,2 kilomètres d’infrastructure de ligne de transmission électrique et la construction d’une nouvelle sous-station électrique pour le Projet Rose Lithium-Tantalum à Eeyou Istchee James Bay, au Québec.
Le CMIF est le programme phare de Ressources naturelles Canada dans le cadre de la Stratégie canadienne sur les minéraux critiques, visant à augmenter l’approvisionnement en minéraux critiques et à développer des chaînes de valeur nationales et mondiales pour une économie verte. Le financement est soumis à une diligence raisonnable finale, à une documentation définitive et à d’autres conditions habituelles.
Le projet souligne l’engagement de Critical Elements envers un développement durable et des relations solides avec les voisins cri, formalisées par l’Accord Pihkuutaau de juillet 2019. L’entreprise vise à devenir un fournisseur majeur de concentré de spodumène de haute qualité pour les industries des véhicules électriques et du stockage d’énergie.
Critical Elements Lithium (CRECF) hat eine bedingte Genehmigung für bis zu 20 Millionen Dollar an Bundesmitteln von der kanadischen Regierung über den Critical Minerals Infrastructure Fund (CMIF) erhalten. Die Finanzierung wird die Verlagerung von 4,2 Kilometern Infrastruktur für Stromübertragungsleitungen und den Bau einer neuen elektrischen Umspannstation für das Rose Lithium-Tantalum Projekt in Eeyou Istchee James Bay, Québec, unterstützen.
Der CMIF ist das Leitprogramm von Natural Resources Canada im Rahmen der kanadischen Strategie für kritische Mineralien, das darauf abzielt, die Versorgung mit kritischen Mineralien zu erhöhen und nationale und globale Wertschöpfungsketten für eine grüne Wirtschaft zu entwickeln. Die Finanzierung unterliegt einer abschließenden Due Diligence, einer verbindlichen Dokumentation und anderen üblichen Bedingungen.
Das Projekt hebt das Engagement von Critical Elements für nachhaltige Entwicklung und starke Beziehungen zu den Cree-Nachbarn hervor, die durch das Pihkuutaau-Abkommen im Juli 2019 formalisiert wurden. Das Unternehmen strebt an, ein führender Anbieter von hochqualitativem Spodumenkonzentrat für die Elektrofahrzeug- und Energiespeicherindustrie zu werden.
Positive
- Secured conditional $20 million federal funding for critical infrastructure development
- Project is supported by government’s flagship CMIF program
- Established partnership with local Cree community through Pihkuutaau Agreement
Negative
- Funding is conditional and subject to due diligence and documentation
- Infrastructure project still requires completion of 4.2km power line relocation
MONTRÉAL, QC / ACCESS Newswire / February 6, 2025 / Critical Elements Lithium Corporation (TSXV:CRE)(OTCQX:CRECF)(FSE:F12) (“Critical Elements” or the “Corporation”) is pleased to announce that it has been conditionally approved for up to
This funding comes from the Critical Minerals Infrastructure Fund (the “CMIF“), Natural Resources Canada’s flagship program under the Canadian Critical Minerals Strategy to support transportation and clean energy infrastructure projects needed to increase the supply of critical minerals in Canada, as well as the development of national and global value chains in support of a green and digital economy. Subject to final due diligence, settlement of definitive documentation, and other customary conditions, Natural Resources Canada has approved a conditionally repayable funding of up to
Jean-Sébastien Lavallée, CEO of Critical Elements, expressed his excitement about this funding during this important phase of the Rose Lithium-Tantalum Project: “On behalf of Critical Elements Lithium Corporation and its shareholders, I would like to thank Natural Resources Canada and Innovation, Science and Economic Development Canada, and Quebec’s Ministry of Natural Resources and Forests for their support of the Rose Lithium-Tantalum Project. Critical Elements Lithium has been steadily advancing and derisking the Rose Lithium-Tantalum Project and the provision of these funds is an important step in this process. We would also like to note the importance of our strong relationship with our Cree neighbours, embodied by the Pihkuutaau Agreement of July 2019 and based on mutual trust and respect, resulting in a sustainable development approach. It is clear from our ongoing discussions with end-users of the high quality spodumene concentrate to be produced from the Rose Lithium-Tantalum Project, that a great value is placed on the demanding standards of sustainability and governance honed by the rigorous permitting processes at the Provincial and Federal levels, as well as our relationship with the Cree. We remain confident that our Nation’s natural resource endowment, high standards of production, and proximity to two of the most important global markets, will support our drive to be an industry leader in the ongoing global energy transition.”
“This project, under the Canadian Critical Minerals Strategy, will help expand Quebec’s sustainable critical minerals production, notably rare earths that are used in electronics, clean energy, aerospace, automotive and defence”, said the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources Canada. “Developments like this help mines get built faster, and they are a key element in seizing the generational opportunity before us. The Government of Canada is supporting projects that strengthen Canada’s supply chains, enhance our ability to be a reliable supplier of the critical minerals the world is demanding and foster economic growth while creating good jobs.”
This support and funding from the Government of Canada reflects the importance of Indigenous engagement and collaboration in developing key infrastructure in Northern Québec. It also recognizes the role this infrastructure project will play in supporting Critical Elements’ vision to become a large-scale, sustainable and reliable supplier of lithium for the emerging electric vehicle and energy storage industries through valuable partnerships with the Corporation’s stakeholders based on care, respect, accountability, integrity & collaboration to the growing EV and energy storage markets.
About Critical Elements Lithium Corporation
Critical Elements aspires to become a large, responsible supplier of lithium to the flourishing electric vehicle and energy storage system industries. To this end, Critical Elements is advancing the wholly-owned, high-purity Rose Lithium-Tantalum project in Québec, the Corporation’s first lithium project to be advanced within a land portfolio of over 1,050 km2. On August 29, 2023, the Corporation announced results of a new Feasibility Study on Rose for the production of spodumene concentrate. The after-tax internal rate of return for the Project is estimated at
For further information, please contact:
Jean-Sébastien Lavallée, P. Géo.
Chief Executive Officer
819-354-5146
jslavallee@cecorp.ca
www.cecorp.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is described in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary statement concerning forward-looking statements
This news release contains “forward-looking information” within the meaning of Canadian Securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “scheduled”, “anticipates”, “expects” or “does not expect”, “is expected”, “scheduled”, “targeted”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information contained herein should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future events or performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including, if CMIF and Natural Resources Canada will be satisfied with their final due diligence on the Corporation’s Rose Lithium-Tantalum Project and the two infrastructure projects that will be subject to the funding (the “Infrastructure Projects“), if the Corporation will enter into a written funding agreement with Natural Resources Canada (the “Funding Agreement“) on terms acceptable to it, as well as the timing to enter into such Funding Agreement, if the Corporation will incur eligible expenditures in connection with the Infrastructure Projects and if the Corporation will receive any funds under the CMIF and timing to receive them, if any. Such forward-looking information and statements are based on numerous assumptions, including that general business and economic conditions will not change in a material adverse manner, that fundamentals of lithium / spodumene demand and EV market growth and capacity will continue to be strong, that project financing will be available on reasonable terms, and that governmental and other approvals required to conduct the Corporation’s development activities and planned exploration will be available on reasonable terms and in a timely manner. Although the assumptions made by the Corporation in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Although Critical Elements has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Factors that may cause actual results to differ materially from expected results described in forward-looking information include, but are not limited to: changes to the Infrastructure Projects or to the development plans of the Corporation’s Rose Lithium-Tantalum Project,negative operating cash flow and dependence on third party financing, uncertainty of additional financing, reliance on key management and other personnel, potential downturns in (i) general economic conditions, (ii) demand for lithium / spodumene and (iii) EV market growth, capacity and demand, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals, as well as those risk factors set out in the Corporation’s Management Discussion and Analysis for its most recent quarter ended November 30, 2024 and other disclosure documents available under the Corporation’s SEDAR+ profile at www.sedarplus.ca.
Forward-looking information contained herein is made as of the date of this news release. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Corporation undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.
SOURCE: Critical Elements Lithium Corp.
View the original press release on ACCESS Newswire
FAQ
What is the amount of federal funding approved for CRECF’s infrastructure project?
Critical Elements Lithium (CRECF) has received conditional approval for up to $20 million in federal funding from the Critical Minerals Infrastructure Fund.
What will the CMIF funding be used for in CRECF’s Rose Lithium-Tantalum Project?
The funding will be used to relocate 4.2 kilometres of power transmission line infrastructure and build a new electrical sub-station for the Rose Lithium-Tantalum Project in Eeyou Istchee James Bay, Québec.
What conditions must CRECF meet to receive the $20 million CMIF funding?
The funding is subject to final due diligence, settlement of definitive documentation, and other customary conditions.
What agreement does CRECF have with the local Cree community?
CRECF has established the Pihkuutaau Agreement from July 2019 with the local Cree community, based on mutual trust and respect for sustainable development.