Teck Trail receives $400M from new critical minerals fund

Teck Trail receives $400M from new critical minerals fund

Published 3:15 pm Tuesday, July 7, 2026

Honourable Tim Hodgson met with Teck workers, staff and local and provincial representatives at a ceremony at Teck Trail on Tuesday, July 7, where he launched the Canada Critical Minerals Accelerator (CCMA) program. (Jim Bailey)

The Minister of Energy and Natural Resources announced a $400-million investment in Teck Trail Operations to enhance its critical minerals processing capacity.

The Honourable Tim Hodgson met with Teck workers, staff and local and provincial representatives at a ceremony at Teck Trail on Tuesday, July 7, where he launched the Canada Critical Minerals Accelerator (CCMA), while announcing a Strategic Investment Agreement signed by Teck Resources Ltd, the CCMA, and the Canada Growth Fund.

“Canada has what the world wants, and we are moving decisively to get projects built faster so we can provide for ourselves and our partners,” said Hodgson. “Our new Canada Critical Minerals Accelerator is about turning Canadian resource abundance into real projects by giving industry the certainty to invest and grow, even in a volatile global market.”

Teck Trail employs over 1,400 people and part of its Strategic Metals Initiative, Teck plans an $850-million expansion of its critical minerals sector with the addition of gallium, and potentially doubling its production of critical minerals like germanium and antimony.

The agreement establishes a commercial framework for an equity-like investment from the Growth Fund of up to $400 million directly into the facility.

“There will be hundreds of jobs created during the construction phase with the work that will be carried out here, and then what it does is it underwrites the long term viability of the Trail smelting facility and of course allows this operation to thrive for many decades to come,” said Teck president and CEO Jonathan Price.

The CCMA is a $2-billion fund, led by Natural Resources Canada and administered by Export Development Canada, that is designed to give companies the certainty they need to make major investments in Canadian critical mineral mining and processing projects, even when global markets are volatile.

“These offtake agreements will also help us build Canada’s national stockpile of critical minerals, which enhances our strategic autonomy and our ability to help our global partners,” said Hodgson.

“And we are not just launching the Fund. We are using it – and I am proud to announce its first deal, right here in Trail.”

Much like the Teck investment, similar projects can access the CCMA fund and make strategic investments in critical minerals projects and companies, leverage modern investment tools like equity investments, debt instruments, loan guarantees, contracts for differences and off-take agreements.

“It’s amazing what can be accomplished once local government, provincial government, federal government work together with industry, it’s amazing what can happen, and we’ve seen the fruit of that here today,” said Kootenay-Monashee MLA Steve Morissette.

“The investment provides the long-term sustainability that major employers and skilled workers need.”

Trail Mayor Colleen Jones was thrilled to hear about the investment into the Silver City’s largest employer.

“I am just so excited about it,” said Jones. “We’ve been waiting patiently to find out what the announcement was and to hear that its coming here, $400 million to our community, I think is fantastic.”

The joint investment is designed to rapidly build processing capabilities in North America, and mitigate reliance on foreign supply chains.

“By working with companies like Teck, aligning with provinces and territories, and partnering with the Canada Growth Fund and Export Development Canada, we are using every tool in our toolbox to build Canada Strong,” added Hodgson.