Updated July 2026 · Verified against Natural Resources Canada (NRCan), delivered by Export Development Canada (EDC) guidelines
✨ New Program Equity Est. 2026
Loan Federal Active

Canada Critical Minerals Accelerator (CCMA) — formerly the Critical Minerals Sovereign Fund

Natural Resources Canada (NRCan), delivered by Export Development Canada (EDC)
Loan Range
$2 billion total envelope; no per-investment amount is published
No open call — the CCMA identifies proponents directly
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Difficulty
Hard
Payment
Equity
Trend
New Program
First-Timers
—
Financing share
Varies
Canada Critical Minerals Accelerator (CCMA) — formerly the Critical Minerals Sovereign Fund provides up to $2 billion total envelope; no per-investment amount is published. The Canada Critical Minerals Accelerator (CCMA) — formerly announced as the Critical Minerals Sovereign Fund (CMSF) — is a $2-billion federal investment vehicle introduced in Budget 2025 and launched on July 7, 2026. No open call — the CCMA identifies proponents directly.
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Eligibility & Details

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Program Description

The Canada Critical Minerals Accelerator (CCMA) — formerly announced as the Critical Minerals Sovereign Fund (CMSF) — is a $2-billion federal investment vehicle introduced in Budget 2025 and launched on July 7, 2026. It is a Natural Resources Canada initiative delivered by Export Development Canada (EDC), and it makes strategic federal investments — including equity investments, loan guarantees, and supply agreements — in critical mineral value chains to accelerate projects to Final Investment Decision. All of Canada's critical minerals are eligible for support. There is currently no open call for proposals: the CCMA identifies proponents whose projects best align with its objectives, EDC (in collaboration with NRCan) proposes investment packages, and final decisions are made by a Ministerial Investment Board co-chaired by the Minister of Energy and Natural Resources and the Minister of Finance. Entities who wish to discuss a project should contact NRCan's Critical Minerals Centre of Excellence at [email protected].

Eligibility Requirements

  • Canadian companies (publicly listed, private, or junior miners) with critical mineral projects — all of Canada's critical minerals are eligible for support
  • Projects that can demonstrate a credible path to Final Investment Decision with CCMA support
  • Must be in late exploration, feasibility, or advanced development stage (not pre-exploration)
  • Foreign-listed companies with substantial Canadian operations may be eligible — verify with the Critical Minerals Centre of Excellence
  • Supply chain companies processing or refining critical minerals may also be eligible
  • Projects that demonstrate strategic importance to Canadian and allied supply chains
Provinces
All Provinces
Industries
Natural Resources Clean Technology Energy Manufacturing Technology
Business Stage
Growth Established Expansion

Quick Assessment

Difficulty
Hard
Competition
High
First-Timer
Not rated

Funding Details

Amount
$2 billion total envelope; no per-investment amount is published
Type
Loan
Level
Federal
Deadline
No open call — the CCMA identifies proponents directly

Program Scorecard

Competition, effort, and approval at a glance

Competition
High
Deadline
Ongoing
Approval
Varies
Accessibility
--/5
Competition
--/5
Approval Rate
--%
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How to qualify

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Insider Tip

There is no application to prepare, and no expression-of-interest process to wait for.

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Success Profile

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Evaluation Criteria

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What's in this Playbook

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Application Playbook

Step-by-step process, required documents, and expenses

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Application Steps

1 Know that there is no open call The CCMA does not run an application intake. There is currently no open call for proposals — the CCMA identifies proponents whose projects best align with its objectives. There is no form, no portal, and no deadline to meet.

Required Documents 1

✓ None published — the CCMA runs no open call and posts no application document list. A company approaching the Critical Minerals Centre of Excellence should be ready to describe the project, its stage, and its significance to Canadian and allied supply chains.

Eligible Expenses 4

Ineligible Expenses 5

Deadline Notes

Ineligible Organizations

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Funding Stack Strategy

Compatible programs, clawback risk, and combined funding potential

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Compatible Programs

First and Last Mile Fund (FLMF) Critical Minerals Research, Development and Demonstration (CMRDD) Export Development Canada (EDC) — Critical Minerals Financing
Combined Funding Potential See your total funding potential

Clawback Risk

High Risk

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How CCMA Compares

Side-by-side with similar programs

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Program Amount Difficulty Payment Deadline
Canada Critical Minerals Accelerator ... $2 billion total envelope Hard Equity No open call — the CCMA...
First and Last Mile Fund (FLMF) up to $114.9M Hard Milestone-Based Continuous pipeline —...
Strategic Response Fund (formerly Str... Minimum $10 million contribution Hard Mixed (Advance + Reimb.) Ongoing — continuous...
CanExport SMEs Up to $50,000 Moderate Mixed (Advance + Reimb.) Between intakes — the...
Innovative Solutions Canada up to $150,000 Hard Milestone-Based Challenge-specific — new...

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Frequently Asked Questions

Quick answers to the questions founders most often ask about CCMA

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How do I apply to the CCMA?
You cannot apply. There is currently no open call for proposals — the CCMA identifies proponents whose projects best align with its objectives. If you want your project considered, email NRCan's Critical Minerals Centre of Excellence at [email protected].
Which critical minerals are eligible?
All of Canada's critical minerals are eligible for support. Priority goes to near-term projects that unlock supply essential to energy technologies, advanced manufacturing, defence and digital industries, and to projects involving dual-use minerals. The CCMA's first agreement covers future germanium, antimony and gallium production.
Can junior miners with pre-feasibility studies be considered?
Stage still matters: pre-exploration projects with no resource estimate and no credible path to Final Investment Decision are not candidates. There is no application either way — the CCMA approaches proponents rather than screening submissions.
What's the realistic investment size?
The CCMA publishes no per-investment range. The vehicle is a $2-billion envelope, and each package — equity, loan guarantee, or supply agreement — is structured for the individual project.
Do I need matching capital?
Yes. The CCMA acts as a catalytic investor and expects the company and its private co-investors to bring capital alongside the federal investment.
Who makes the investment decision?
Export Development Canada, in collaboration with Natural Resources Canada, proposes investment packages for support. Final decisions are made by a Ministerial Investment Board co-chaired by the Minister of Energy and Natural Resources and the Minister of Finance.
Can this stack with other federal critical minerals programs?
Yes — CCMA support is designed to work alongside the First and Last Mile Fund (enabling infrastructure, which subsumed the Critical Minerals Infrastructure Fund) and CMRDD (research and development).

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