Led by the Geological Survey of Canada, the Geomapping for Energy and Minerals programme and the Targeted Geoscience Initiative would be recipients of the proposed funding.

"The Canadian mining sector has faced unprecedented challenges as a result of the Covid-19 pandemic. Ensuring the competitiveness of this critical industry is more important than ever, as the sector looks to recover and move toward a prosperous future,” said O’Regan in a statement.

The proposed investment will anchor the Pan-Canadian Geoscience Strategy under the Canadian Minerals and Metals Plan (CMMP), enabling Canada to present world-leading geoscience to meet the growing global demand for responsibly sourced minerals and metals.

“The government will continue to support Canada`s mining and exploration companies — and the CMMP is the vehicle that will drive the sector forward,” added the Minister.

In a statement, the government explained that the Geomapping for Energy and Minerals programme provided geoscientific knowledge of the “immense” untapped resources in Canada`s North and informed mineral resource opportunities in the context of a changing climate.

The Targeted Geoscience Initiative provided next-generation geological knowledge and innovative techniques to target deeply buried mineral deposits.