First off from a C$300 million pool, applicants can seek up to C$50 million per project, while provincial and territorial governments can apply for as much as C$100 million for each project.
Under the deal, which still must be approved by regulators in Ottawa, Glencore is to pay $6.9 billion for 77% of Elk Valley Resources, Teck’s coal business.
Garofalo said governments should “stay out of the way" of mining projects because long lead times, unclear regulations and overlapping jurisdictions all drive away investment.