How to Fund Mining and Critical Minerals Feasibility Studies in Canada

Early-stage mining and critical minerals projects face big challenges at the feasibility stage. Engineering studies, economic models, and early planning can cost hundreds of thousands of dollars before any construction starts. In Canada, governments often support this work because critical minerals are important for clean energy, electric vehicles, and supply chain security.

This guide explains how to fund mining and critical minerals feasibility studies in Canada. It focuses on public programs such as the Targeted Mineral Exploration Incentive and federal support for pre-construction and feasibility work.

Funding Options for Mining and Critical Minerals Feasibility Studies

Feasibility studies come after exploration and before full project development. Funding programs support this stage because it helps reduce risk and shows if a project can succeed.

Targeted Mineral Exploration Incentive (Saskatchewan)

The Targeted Mineral Exploration Incentive (TMEI) supports early-stage mineral exploration in Saskatchewan. It helps cover costs for technical and economic studies.

Key facts:

Where: Saskatchewan
Who runs it: Government of Saskatchewan
Status: Open
Focus: More exploration for high-priority and new minerals

The program does not list a set maximum grant amount. Funding depends on eligible costs outlined in the guidelines. This includes geological work and technical studies needed for feasibility decisions.

You should consider this program if:

Your project is in Saskatchewan
You are still defining the resource or checking if the project is possible
Your work is for future development, not full production yet

Critical Minerals Infrastructure Fund – Preconstruction (Federal)

For bigger or more advanced projects, the Critical Minerals Infrastructure Fund (CMIF) – Preconstruction stream supports early planning for infrastructure needed for critical minerals development.

Program details:

Funding amount: Up to $50 million, covering up to 50% of eligible costs
Type: Usually non-repayable; sometimes conditionally repayable for for-profit, non-Indigenous groups
Where: Canada-wide
Who runs it: Natural Resources Canada
Status: Open

Eligible activities:

Feasibility and prefeasibility studies for infrastructure
Technical and engineering assessments
Consultation and inclusion planning for infrastructure
Planning for clean energy or transportation that supports critical minerals production

Project requirements:

Must be in Canada
Must help enable critical minerals production
Must focus on infrastructure, not just exploration drilling

Many mining companies miss this program because it funds infrastructure, not mines directly. If your feasibility study involves power, roads, or transportation needed for a deposit, CMIF could be a good fit.

Tools like GrantHub’s eligibility matcher can help you filter programs by province, project stage, and mineral type.

How to Position Your Feasibility Study for Funding

Government funders want more than just reports. They want reduced risk and public benefits.

Strong applications usually show:

How the study leads to future mineral production
That the mineral matches federal or provincial critical minerals lists
Clear study outputs, like engineering models or infrastructure plans
A realistic timeline for the project after the study

For CMIF, feasibility work must support infrastructure that enables production, not just internal company planning.

Common Mistakes to Avoid

Treating feasibility studies as only internal research
Programs want public benefits, such as supply chain strength or clean energy. Show how your study will have an impact beyond your company.

Applying at the wrong stage
Exploration-heavy projects may fit TMEI, but not CMIF. Projects that are already fully engineered may be too late for these programs.

Not following cost-share rules
Federal programs like CMIF will only pay for up to 50% of eligible costs. You need to show you have or can get the rest of the funding.

Missing the link to infrastructure
For critical minerals programs, feasibility studies must connect to production or needed infrastructure, not just finding the resource.

Frequently Asked Questions

Q: Can feasibility studies be funded before a resource is proven?
Yes. Programs like the Targeted Mineral Exploration Incentive support early technical work that helps check if a project is possible.

Q: Are feasibility grants repayable?
Sometimes. CMIF preconstruction funding is usually non-repayable, but may be conditionally repayable for some for-profit, non-Indigenous groups.

Q: Do Indigenous-led projects have different rules?
Yes. Federal programs like CMIF have different thresholds and more flexibility for Indigenous-led projects, especially for clean energy planning.

Q: Can feasibility studies include community or consultation costs?
For CMIF, yes. Consultation and inclusion planning for infrastructure are eligible costs.

Q: Can multiple grants fund the same feasibility study?
Sometimes. Many programs allow stacking, but total government funding cannot go over program limits. You must tell each funder about other sources.

GrantHub tracks hundreds of active grant programs across Canada, including those for mining and critical minerals. Checking which ones fit your project stage and location can save you a lot of time.

Next Steps

Feasibility studies are hard to fund, but governments support them when your project matches public priorities. Start by matching your study to program goals. Check your eligibility and the rules about stacking funds early.

If you want to compare federal and provincial programs for your mining or critical minerals project, GrantHub lets you see your options in one place, so you don’t have to search outdated lists.

See also:

Repayable vs Non-Repayable Business Funding in Canada: Program Examples Explained
How to Prepare Financial Statements for Grant Applications in Canada

How to Fund Mining and Critical Minerals Feasibility Studies in Canada