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

Insider Tip

There is no application to prepare, and no expression-of-interest process to wait for. The CCMA identifies proponents itself, so the only real action is making your project known: email NRCan's Critical Minerals Centre of Excellence at [email protected], and build visibility through the related federal files (CMRDD for R&D, the First and Last Mile Fund for enabling infrastructure) and through EDC, which delivers the CCMA. All of Canada's critical minerals are eligible — the CCMA's first agreement covers germanium, antimony and gallium — but 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.

Success Profile

A Canadian junior or mid-tier mining or mineral-processing company with a critical mineral project at feasibility or advanced development stage, with a credible path to production, an experienced management team, and a project that contributes to Canadian or allied supply chain security. Near-term projects that unlock supply for energy technologies, advanced manufacturing, defence or digital industries — and projects involving dual-use minerals — are the CCMA's stated priorities. Projects in politically stable Canadian jurisdictions with existing community and Indigenous engagement are strongest candidates.

Evaluation Criteria

All of Canada's critical minerals are eligible for support. Priority is given to near-term projects that unlock supply essential to energy technologies, advanced manufacturing, defence, and digital industries; near-to-medium term projects with strong potential to increase supply; and projects that include dual-use minerals. Beyond those stated priorities, the CCMA weighs strategic importance to Canadian and allied supply chains, technical and commercial feasibility, environmental and regulatory status, management depth, and the ability to leverage federal investment into private co-investment. EDC, in collaboration with NRCan, proposes investment packages; a Ministerial Investment Board co-chaired by the Minister of Energy and Natural Resources and the Minister of Finance makes the final decision.

Application Steps

Required Documents 1

Eligible Expenses 4

• Capital development of critical mineral projects (feasibility, permitting, construction)
• Processing and refining capacity for critical minerals
• Supply chain diversification investments
• Working capital for project development activities

Ineligible Expenses 5

• Early-stage exploration (pre-resource estimate)
• Operating expenses of producing mines not linked to expansion
• Non-critical mineral projects
• Overseas projects without Canadian operations
• Debt refinancing

Deadline Notes

The CCMA launched on July 7, 2026. There is no deadline because there is no open call for proposals: the CCMA identifies proponents whose projects best align with its objectives. Entities who wish to discuss their project should contact the Critical Minerals Centre of Excellence at [email protected]. Monitor the CCMA program page on canada.ca in case the sourcing approach changes.

Ineligible Organizations

• Non-incorporated entities
• Companies without Canadian critical mineral operations
• Companies at pre-exploration stage
• Non-critical mineral projects

Compatible Programs

Clawback Risk

High Risk

As an equity investor, the government's CMSF stake cannot be 'clawed back' in the traditional grant sense. However, investment agreements will include conditions — failure to achieve milestones, ownership transfers, or change of control may trigger forced buyback provisions or conversion of the equity stake to debt. Full terms TBD at fund launch.