October 19, 2018
Ottawa today announced $12 million for Alliance Magnesium (AMI) from its Sustainable Development Technology Canada (SDTC) fund to encourage the integration of clean technologies.
Building on the success of its pilot plant in Quebec, Alliance Magnesium will use the SDTC funding to support the second phase of demonstrating its clean magnesium production technology.
“We are very happy to receive this major financial contribution from the federal government,” said Dr. Joël Fournier, president, Alliance Magnesium. “It shows that the government recognizes the value of AMI’s work in developing green technologies and reducing GHGs in the transportation and light metal alloy industries. Not only does our reclamation of mining waste technology have the potential to generate international interest but it also complies fully with sustainable development, environmental protection and population health and safety policies.”
The company’s innovative process recycles tailings from mining activity to produce magnesium metal. As the demand for magnesium metal increases in areas such as automotive manufacturing, today’s investment will help ensure Alliance Magnesium is well positioned to become a global leader in clean technology solutions for the mining sector, which will create well-paying jobs, support the Canadian economy and help Canada meet its climate change goals.
“Asbestos production is banned in Canada,” said Marie-Claude Bibeau, Minister of International Development. “However, investments such as the one in Alliance Magnesium are key to Canada’s transition to a greener economy. The federal government’s support for the company’s production of magnesium from asbestos tailings will contribute to regional economic diversification efforts in the RCM des Sources and will benefit its residents.”
The investment announced today aligns with recommendations received from industry leaders, as outlined in the Clean Technology Economic Strategy Table’s report, to address gaps in scale-up financing that will accelerate the growth of Canadian clean technology companies.