Canada Invests $400 Million in Teck Critical Minerals Expansion

The Government of Canada launched the $2-billion Canada Critical Minerals Accelerator (CCMA) on July 7, 2026, marking its first transaction with a $400-million equity-like investment in Teck Resources Limited. The funding, provided via the Canada Growth Fund and managed by Export Development Canada, supports a broader $850-million expansion of the Trail smelting and refining complex in British Columbia.

The expansion aims to double the production of germanium and antimony while introducing gallium production. This project was a key condition for federal approval of Teck's merger with Anglo American Plc and is designated a priority under British Columbia's Look West strategy. The initiative intends to reduce reliance on foreign supply chains, particularly China, and establish a national stockpile of minerals essential for semiconductors, telecommunications, and national defense.

Minister of Energy and Natural Resources Tim Hodgson stated the investment turns resource abundance into real projects to ensure Canada and its partners have reliable access to strategic materials. Teck leadership noted the project underwrites the long-term viability of the Trail facility. The United Steelworkers union welcomed the move, stating it supports over 1,200 unionized jobs and strengthens Canada's industrial capacity for domestic processing.