Elevra Lithium said it will expand its Quebec mine after raising $417 million, including $145 million from the Canada Growth Fund and $272 million in a public equity offering. Canada Growth Fund has the option to convert its investment into Elevra shares on the Australian Securities Exchange. (The Logic)

Talking point: Canada Growth Fund, an arm’s length investment vehicle funded by the federal government, is making good on the Liberals’ promise to consider taking equity stakes in critical mineral projects, mirroring the U.S.’s strategy. Elevra, which became North America’s largest lithium producer when Piedmont Lithium and Sayona Mining merged last year, employs 252 people at the revived mining site. In a press release, the federal government said the investment furthers its goal to be a “global supplier” of critical minerals. Prime Minister Mark Carney said at the World Economic Forum this year that Canada wanted to form a critical mineral “buyers’ club” among the G7 countries.