Pandemic-related restrictions are being lifted across Canada, the economy is bouncing back – and with recovery comes opportunities for companies that offer goods and services to a variety of industries across the country, including energy, infrastructure, mining, and aerospace.
Infrastructure projects abound in British Columbia, thanks to joint investments from the federal and provincial governments. More than CAD $110.3 million was recently allocated to 57 projects in that province, including community and arts facilities, water treatment, transportation, and 13 Indigenous-led initiatives.
Alberta is aggressively pursing energy decarbonization initiatives by reducing the carbon intensity of its electricity grid, as well as its oil and gas sector. The province is at the forefront of innovation in areas such as carbon capture, use, and storage (CCUS) and blue hydrogen production.
Potash is key in the province of Saskatchewan. Production hit a new record in 2021 – reaching 14.2 million tonnes, with a sales value of CAD $7.6 billion. Saskatchewan is Canada’s only potash producer, and typically accounts for 30% of global production.
Manitoba has the potential to be a significant contributor to North America’s critical mineral supply chain. At present, the province supplies 100% of Canada’s cesium, lithium, and tantalum, and also produces metals including nickel, copper, zinc, and gold – all vital components for the manufacturing sector and essential for renewable energy and clean technology. The 2022 federal budget allocates up to CAD $3.8 billion in support over eight years starting in 2022-23, in order to implement Canada’s first Critical Minerals Strategy.
Ontario’s automotive sector is poised for resurgence, thanks to a series of investments in hybrid and electric vehicle production and battery manufacturing in that province. Ontario has also released its own Critical Minerals Strategy that will help support the province’s EV production.
Quebec has updated its aerospace strategy thanks to an additional CAD $95 million in funding. The Quebec government plans to provide a total of CAD $334 million in financial support between now and 2024 as part of the Quebec Aerospace Strategy (QAS) Horizon 2026.