Jul. 7 at 9:03 PM
The Canadian government announced Tuesday that it plans to invest up to C
$400 million (about US
$282 million) in Teck Resources to support the expansion of its Trail Operations facility in British Columbia, boosting production of critical minerals.
The agreement also establishes a framework for an advance purchase contract that would give Canada access to future output of germanium, antimony, and gallium—strategic metals used in defense systems, semiconductors, radar, and infrared optics. The investment is part of Teck's broader plan to invest up to C
$850 million to expand critical mineral processing capacity at Trail.
Canadian officials said the initiative is intended to provide companies with greater investment certainty while strengthening domestic supply chains for critical minerals amid volatile global markets. The move also supports Canada's and the G7's efforts to reduce dependence on China, which currently dominates the global supply of many strategic metals.
$TECK