CALGARY — Finance Minister Francois-Philippe Champagne says his goal is to help Canada become NATO's partner of choice when it comes to supplying critical minerals.
He says oil refining is “the name of the game” and Canada can do better than just send these in-demand materials south in raw form.
Champagne made his remarks to a Calgary business audience during the federal budget debate last week.
The budget outlines a plan to create a $2 billion critical minerals sovereign fund over five years for equity investments, loan guarantees and purchase agreements.
On the energy side, Champagne says “mentalities are changing” regarding developing oil and gas resources and getting them to market.
He says Canada needs to “get our act together” to ensure regulations don't hold back such projects, but there is new confidence that the government wants to do “big things.”
This report by The Canadian Press was first published Nov. 10, 2025.
