Teck Trail receives $400 million federal investment for critical minerals processing expansion

The federal Canada Critical Minerals Accelerator announced a $400 million investment in Teck Trail Operations Tuesday as part of a broader push to secure North America's supply of minerals critical to global partners and domestic security.

Natural Resources Minister Tim Hodgson unveiled the fund and announced the first deal—a Strategic Investment Agreement between Teck Resources, the Accelerator, and the Canada Growth Fund—at a ceremony at the Trail smelting facility. "Canada has what the world wants, and we are moving decisively to get projects built faster," Hodgson said.

Teck's $850 million expansion under its Strategic Metals Initiative will double production of germanium and antimony while adding gallium capacity. The investment establishes a commercial framework for an equity-like contribution from the Growth Fund of up to $400 million directly into the facility. Teck president and CEO Jonathan Price said the deal "underwrites the long term viability of the Trail smelting facility and of course allows this operation to thrive for many decades to come."

The two-billion-dollar Canada Critical Minerals Accelerator, led by Natural Resources Canada and administered by Export Development Canada, is designed to give companies the certainty to invest in critical mineral mining and processing even during global market volatility. Antimony is a key mineral for flame retardants and lead-acid batteries; Canada, the U.S., and the EU all classify it as critical, given China's dominance in global supply.

Teck Trail employs over 1,400 people. Construction will create hundreds of jobs, with the expansion expected to generate long-term employment and regional stability. Similar projects can access the CCMA fund through tools including equity investments, debt, loan guarantees, contracts for differences, and off-take agreements.