Canadian Prime Minister Mark Carney on Thursday unveiled the first five projects to be reviewed by the country’s newly created Major Projects Office (MPO). This new government unit will cut the red tape, streamline regulatory approvals, and work on attracting large-scale resource and infrastructure investments.
“At this moment of transformative change, Canada’s new government is focused on delivering major projects to connect our communities, empower Canadian workers, and build Canada’s strength,” Carney said. “With the first in a series of new projects, we will build big, build now, and build Canada strong.”
The first in line of flagship projects, totaling over $43 billion, is the LNG Canada Phase 2, in Kitimat, British Columbia. By doubling the operation’s liquefied natural gas output, it will become the second-largest facility of its kind globally. With partners including Shell (NYSE:SHEL), the project will supply Asian and European Markets. The projected carbon intensity is up to 60% lower than the global average.
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Darlington New Nuclear Project could make Canada the first G7 country with an operational small modular reactor (SMR). Once online, the first of four SMR units will power 300,000 homes, sustain thousands of jobs, and solidify Canada’s position as a leader in commercializing nuclear technology for global markets.
Meanwhile, ContrecÅ“ur Terminal Expansion will increase the Port of Montreal’s handling capacity by 60%, boosting Eastern Canada’s trade infrastructure. The project aims to generate $140 million annually in local and national economic benefits, strengthen supply chains, and create thousands of jobs across Quebec and Canada.
McIlvenna Bay copper-zinc project in Saskatchewan will become Canada’s first net-zero copper mine, developed in partnership with the Peter Ballantyne Cree Nation. Under the control of Foran Mining (OTCQX:FMCXF), the mine is expected to generate 400 jobs, contribute to critical mineral supply chains, and support Canada’s transition to clean energy and advanced manufacturing.
Newmont’s (NYSE:NEM) Red Chris Copper mine expansion in British Columbia will lift Canada’s annual copper production by 15%. The expansion will create 1,500 new jobs and reduce greenhouse gas emissions by over 70%.
Tim Hodgson, Minister of Energy and Natural Resources, called the launch “a leap forward in achieving results.”
“We promised Canadians we would deliver responsibly and strategically, and today’s announcement shows how we can transform how we build in this country,” he added.
The MPO will recommend the most efficient pathways to secure approvals so proponents can make timely, well-informed investment decisions. Through the initiative, Canada is aiming not only to attract capital and boost its job market, but also to safeguard its economic sovereignty.
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