Carney Courts Global Capital at Canada’s First Investment Summit
Prime Minister Mark Carney kicked off Canada’s first-ever Investment Summit in Toronto on Monday (September 14), pitching hundreds of executives and sovereign wealth fund representatives, from Kuwait, Qatar, Norway, Singapore, Japan and beyond, on a five-year plan to pull in C$1 trillion in capital.
“We have what the world wants: the energy, the resources, the talent, the technology and the capital,” Carney told attendees. “And our greatest strength is something that cannot be found on any balance sheet: trust.”
The two-day event, running through Tuesday (September 15), is built around roughly C$280 billion in government capital and incentives that Ottawa is betting will unlock the rest.
Clean and conventional energy, critical minerals and mining, infrastructure, manufacturing and AI are the sectors on the table, building on a run that’s already landed more than 20 new economic and defence partnerships and C$97 billion in foreign investment commitments over the past year.
Ontario alone is pitching 15 major projects spanning energy, critical minerals, AI and advanced manufacturing, with Premier Doug Ford telling the room: “Ontario has what the world needs and we’re going to make sure the world knows it.” Former Prime Minister Stephen Harper is set to deliver closing remarks.
The agenda
The prospectus for the summit outlines dozens of projects at various stages within the Canadian resource sector, including projects that are well into development like Canada Nickel’s (TSXV:CNC,OTCQX:CNIKF) US$2 billion pre-construction phase Crawford Nickel Project in Ontario; NexGen Energy’s (TSX:NXE,NYSE:NXE) C$1.6 billion Rook 1 uranium project currently under construction in Saskatchewan; and Osisko Gold’s (TSXV:OGG) US$746 million, pre-construction phase, Cariboo Gold Project in British Columbia.
The government identified the resource sector as a critical driver of the Canadian economy over the next decades, which is one reason the sector features heavily at the summit. However, it’s not just late-stage projects that are being represented.
Many of the companies attending the summit are seeking financing to move projects from exploration to development, either by completing permitting, environmental assessments or feasibility studies.
For example, BMC Minerals (ASX:BMV) is completing permitting work at its US$492 million Kudz Ze Kayah project in the Yukon. It’s currently targeting a construction decision on the silver-zinc-gold-copper property for mid-2027 and is meeting financing objectives through a combination of debt, equity raises and financial guarantees.
Likewise, Defense Metals (TSXV:DEFN,OTCQB:DFMTF) is looking to meet its financing goals for its US$1.44 billion Wicheeda rare earth project by connecting with strategic partners, forming joint ventures, and signing long-term commercial agreements. The project is currently in the feasibility stage and is focused on neodymium and…
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