Department of Finance Canada welcomed a Canada Growth Fund investment to support the expansion of North American Lithium in the Abitibi region of Quebec.
The commitment was for up to C$145 million. Finance Canada described North American Lithium, owned by Elevra Lithium Limited, as the largest operating lithium mine in Canada.
Lithium is a critical mineral used in batteries and clean-energy supply chains. The federal interest is not only the mine itself, but also whether Canada can keep more of the battery and electric-vehicle supply chain within the country.
The Canada Growth Fund is a $15 billion arm's-length public investment vehicle created to attract private capital into Canadian projects and businesses. It operates differently from a tax credit: the government is using investment capital rather than only foregone tax revenue or grants.
As of May 2026, Finance Canada said the fund had announced 23 transactions and committed more than $5 billion across six provinces.
The source connected the investment to domestic production, emissions reduction, regional employment, and Canada's role in the global clean-energy economy.
The investment shows how federal public capital is being used in critical-mineral supply chains, alongside tax credits and other clean-economy measures that support battery and electric-vehicle production.