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EDMONTON – The Alberta government has announced it is developing a new incentive program to attract investment in the province’s critical minerals sectors.

According to a release, it is targeted for launch in 2027 and is a key part of the government’s Minerals Strategy and Action Plan.

“Alberta has a largely untapped but significant mineral resource base, particularly lithium,” explains the release. “This is one of the province’s most promising opportunities for mineral development and processing. In Alberta, lithium can be extracted from the brine of old oil and gas wells, often found in the same geological formations as natural gas. According to the Alberta Geological Survey’s recent in-place lithium estimate, the province has one of the largest lithium reserves in the world.”

Iron, vanadium, rare earth elements, petroleum coke for synthetic graphite production and uranium are also found in Alberta.

To attract investment, the government is exploring different incentives, such as:

• Non-refundable mineral processing tax credit opportunities and increased access to appropriate Crown Land.
• Contemplation of a “flow-through share” tax credit to support critical mineral exploration by allowing corporations to claim a portion of their expenses from exploration and development or resources.

The incentive program is a step forward in Alberta’s commitments under a recently signed memorandum of understanding with British Columbia, Saskatchewan, Manitoba, Yukon, Northwest Territories and Nunavut.

The Western Canadian Critical Minerals Strategy will:

• Promote Western Canada as a global hub for critical minerals innovation and sustainable development.
• Prioritize regional critical mineral hubs.
• Identify the infrastructure planning and investment needed to maximize mineral extraction, processing and export capacity.