News Summary

The Alberta government has announced a new incentive program aimed at attracting investment in the province’s critical minerals sectors, with a target launch in 2027. This initiative is part of Alberta’s Minerals Strategy and Action Plan. The program focuses on unlocking Alberta’s mineral potential, particularly in lithium, which can be extracted from the brine of old oil and gas wells. The government is considering various incentives, such as non-refundable mineral processing tax credits and a ‘flow-through share’ tax credit to support exploration and development. This strategic move aligns with a memorandum of understanding signed with other provinces and territories, aiming to secure critical minerals supply chains. The program’s impact extends beyond Alberta, potentially influencing investment and development in places like Northwestern Ontario and Thunder Bay, where Ontario’s own Critical Minerals Strategy is already in progress.