The M&E Dispatch // 123

Hello Everyone,

Prime Minister Mark Carney has unleashed an unprecedented wave of mining and energy announcements over the past two months, positioning Canada as a critical minerals powerhouse and energy superpower. From September through mid-November 2025, his government has announced or fast-tracked 31 major initiatives representing well over $116 billion in combined investment.

I spent a bunch of time tracking down what I could find about these and working to create a running ledger of where these projects are at. This is, like the current state of our country, very much a living document and I’ll update this list as we learn more.

The Major Projects Office: A New Era of Fast-Tracking

Launched in August 2025, the Major Projects Office represents the centerpiece of Carney's nation-building strategy. The MPO aims to streamline regulatory approvals to a maximum of two years, down from the current five-year timeline. With $213.8 million in dedicated funding over five years, this office is designed to shepherd projects from regulatory maze to construction reality.​

First Tranche (September 2025): The Foundation - $60 Billion

The initial wave, announced September 10-11, set an ambitious tone with five concrete projects:​

LNG Canada Phase 2 (Kitimat, BC) will double the facility's production capacity, making it the second-largest LNG operation globally. With emissions 35% lower than best-performing facilities and 60% lower than the global average, it positions Canada to supply Asian markets with cleaner LNG.​

Darlington New Nuclear Project marks a historic first: Canada will become the first G7 country with operational small modular reactors. The $21 billion project features four GE Hitachi BWRX-300 reactors capable of powering 1.2 million homes. The first reactor is scheduled for late 2029, with 18,000 construction jobs and 3,700 annual jobs over 65 years.​

McIlvenna Bay Copper Mine in Saskatchewan, already 60% complete, will be Canada's first net-zero copper project. The $1+ billion development, built in partnership with Peter Ballantyne Cree Nation, targets commercial production by mid-2026.​

Red Chris Mine Expansion in northwestern BC will extend the mine's life by over a decade and increase Canada's annual copper production by 15% while cutting greenhouse gas emissions by 70% when operational.​

The Contrecœur Container Terminal in Quebec will expand Port of Montreal capacity by 60%, handling 1.15 million containers annually starting in 2029, creating 8,000 construction jobs and 1,100 permanent positions.​

October 2025: Strategic Investments Flow

October saw critical funding announcements materialize. The Canada Growth Fund invested $2 billion into the Darlington SMR project, with Ontario adding another $1 billion. This unprecedented public investment signals federal commitment to nuclear renaissance.​

On October 30, Minister Tim Hodgson unveiled 26 new critical minerals investments and partnerships worth $6.4 billion through the G7 Critical Minerals Production Alliance. These partnerships span nine allied countries, France, Germany, Italy, Japan, Luxembourg, Norway, the United States, Australia, and Ukraine, securing offtake agreements and co-investments in graphite, rare earths, and scandium production.​

Days later, Rio Tinto and Canada Growth Fund announced a $25 million partnership to expand scandium oxide production at Sorel-Tracy, Quebec, North America's only scandium facility, increasing capacity to nine tonnes annually. The U.S. Defense Logistics Agency is already seeking to purchase $40 million of scandium for its national stockpile.​

Federal Budget 2025 (November 3-4): The Financial Arsenal

Budget 2025 delivered what the Mining Association of Canada called "historic" support for the sector. Key measures include:​

• $2 billion Critical Minerals Sovereign Fund for strategic investments in projects and companies​

• $1.5 billion First and Last Mile Fund absorbing the Critical Minerals Infrastructure Fund to accelerate near-term projects into production​

• $1 billion Arctic Infrastructure Fund over four years for dual-use (civilian/military) transportation projects​

• $443 million for innovative processing technologies, allied joint investments, and critical minerals stockpiling for national security​

• $10 billion boost to the Canada Infrastructure Bank for nation-building projects​

• Expanded Clean Technology Manufacturing Investment Tax Credit to cover polymetallic extraction and add antimony, indium, gallium, germanium, and scandium to eligible minerals​

• Extended Carbon Capture Tax Credit with full rates through 2035​

• $25 billion increase in Export Development Canada business facilitation by 2030 for critical minerals, energy, clean tech, infrastructure, and defence​

Second Tranche (November 12-13): The $56 Billion Surge

Carney's second wave of projects, announced from Terrace, BC, adds another $56 billion in investment and 68,000 jobs:​

North Coast Transmission Line received a $140 million Canada Infrastructure Bank loan as part of a $6 billion project to twin transmission capacity from Prince George to Terrace and north to Bob Quinn. This infrastructure is essential for powering both the Ksi Lisims LNG facility and critical minerals development in the Golden Triangle.​

Ksi Lisims LNG, an Indigenous-led project by the Nisga'a Nation, will produce 12 million tonnes of LNG annually for Asian markets with emissions 94% below the global average. Despite judicial challenges from some First Nations groups, the project targets 2029 operations.​

Crawford Nickel Project near Timmins, Ontario, sits in the world's second-largest nickel reserve. The $5 billion development will produce high-quality, low-carbon nickel with emissions 90% below global average and potential for net-negative carbon footprint, creating 4,000 jobs.​

Sisson Mine in New Brunswick will tap a world-class deposit of tungsten, the strongest metal on Earth, and molybdenum for steel manufacturing, defence, and protective equipment. With provincial environmental approval since 2015, the project promises 300 full-time jobs over a 27-year mine life.​

Nouveau Monde Graphite's Matawinie Mine north of Montreal will become North America's largest open-pit graphite mine, producing 100,000 tonnes annually for 26 years. The federal government has already purchased 30,000 tonnes (one-third of production) for seven years in what many see as a rescue investment. The $1.8 billion project begins construction Q1 2026, with operations mid-2028, creating 1,000+ jobs.​

Iqaluit Nukkiksautiit Hydroelectric Project represents a sovereignty milestone: Nunavut's first 100% Inuit-owned clean energy project. The 15-30 MW facility will replace Iqaluit's diesel-generated electricity, advancing both energy security and Arctic sovereignty.​

Transformative Strategies: The Long Game

Beyond immediate projects, Carney has identified transformative strategies that could reshape Canada's economic geography:

Northwest Critical Conservation Corridor envisions unlocking vast critical minerals deposits in northwestern BC and Yukon while creating a conservation area the size of Greece. The corridor integrates power, highway, telecommunications, port, and rail infrastructure.​

Wind West Atlantic Energy proposes leveraging 60+ GW of offshore wind potential in Nova Scotia and Atlantic Canada, with the possibility of exports to the northeastern United States. This $60 billion vision could transform Canada's renewable energy landscape.​

Pathways Plus, Alberta's massive carbon capture network, plans to capture CO₂ from 13-20 oil sands facilities and transport it via a 400-kilometre pipeline to a storage hub near Cold Lake, sequestering 10-12 megatonnes annually. The $16.5-24 billion megaproject could create 18,500-43,000 jobs annually.​

Arctic Economic and Security Corridor envisions dual-use infrastructure connecting the Grays Bay deepwater port to southern road networks, supporting both Arctic sovereignty and critical mineral development with potential for 51,000 construction jobs and $35 billion in GDP.​

Port of Churchill Plus aims to transform Manitoba's northern port into a four-season trade and transportation hub with upgraded rail, all-weather road, marine ice-breaking, and energy corridor infrastructure, all prioritizing Indigenous equity ownership.​

Alto High-Speed Rail between Toronto and Quebec City would create nearly 1,000 km of electrified railway serving 18 million Canadians at speeds exceeding 300 km/h, contributing 51,000 jobs, $35 billion in GDP, and 25 million tonnes in emissions cuts.​

The Ring of Fire: Notably Absent

Despite Premier Doug Ford's lobbying, Ontario's Ring of Fire, one of the world's most valuable untapped mineral regions, remains conspicuously absent from Carney's lists. The federal and provincial governments are "stepping up discussions" to accelerate development, but regulatory and infrastructure challenges persist.​

What This Means for Mining & Energy

Carney's announcement blitz represents the most aggressive Canadian federal commitment to resource development in decades. The combined package features:

• Over $116 billion in announced investments (with more in early-stage transformative strategies)

• At least 100,000+ jobs across construction and operations

• Streamlined regulatory approval to two years maximum

• Strategic partnerships with G7 allies and Indigenous communities

• Tax incentives, sovereign funds, and infrastructure financing creating an ecosystem for development

• Clear prioritization of critical minerals for energy transition, defence, and supply chain security

The initiatives span every region, from Arctic hydro to Atlantic offshore wind, from prairie copper to Quebec graphite, from BC LNG to Ontario nuclear. For the mining and energy sectors, this represents not just opportunity but transformation, if Carney's government can deliver on the aggressive timelines promised.// The Dirt

🔥 Top 3 Headlines to Watch

🛠 Exploration & Development Highlights

💰 Financings & Market Moves

🧬 Corporate & Policy

// The Hustle

We’ve got a home game today and then off to Fort Erie tomorrow for an away game, tomorrow is also my youngest’s son’s 15th Birthday. Happy Birthday Sawyer.

If you’re standing on Friday afternoon wondering what to do for a couple hours, head down to your local rink and watch some hockey. A $10 ticket at a local Junior Level hockey game is pretty inspiring for everyone, both on and off the ice.

And if you’re lucky enough to have a good local barn, the arena fries and gravy will make it all worth while.

Have a great weekend all,
- Lee

For those looking to learn more, here's the sources for these:

First Tranche Projects (September 2025)

1. LNG Canada Phase 2 - https://www.lngcanada.ca

2. Darlington New Nuclear Project - https://www.cnsc-ccsn.gc.ca/eng/reactors/power-plants/nuclear-facilities/darlington-new-nuclear-project

3. McIlvenna Bay Copper Mine - https://www.foranmining.com/mcilvenna-bay-project

4. Red Chris Mine Expansion - https://www.imperialmetals.com/our-operations/red-chris

5. Contrecœur Container Terminal - https://www.port-montreal.com/en/contrecoeur-terminal-expansion-project

Second Tranche Projects (November 2025)

1. North Coast Transmission Line - https://www.bchydro.com/energy-in-bc/projects/north-coast-electrification

2. Ksi Lisims LNG - https://www.ksilisimslng.com

3. Crawford Nickel Project - https://www.canadanickel.com/projects

4. Sisson Mine - https://www.sissonpartnership.com

5. Nouveau Monde Graphite Matawinie Mine - https://www.nmg.com/matawinie-mine

6. Iqaluit Nukkiksautiit Hydroelectric Project - https://www.nunavutcleanenergy.ca

Major Strategies & Programs

1. Major Projects Office - https://www.canada.ca/en/services/business/major-projects-office.html

2. Alto High-Speed Rail - https://www.altotrain.ca

3. Canada Growth Fund - https://www.cgf-fcc.ca

4. Canada Infrastructure Bank - https://www.cib-bic.ca

5. Federal Budget 2025 - https://www.budget.canada.ca

6. Canada Critical Minerals Strategy - https://www.canada.ca/en/campaign/critical-minerals-in-canada.html