Torngat Metals has embarked on a robust growth trajectory after securing CAD 165 million in government funding to support pre-construction work for its Strange Lake rare earth project in northern Quebec and Labrador. The funding comprises two components: a CAD 110 million bridge loan from Export Development Canada (EDC) and a CAD 55 million infrastructure loan from the Canada Infrastructure Bank, marking the first collaboration between these two institutions on such a project. As a core component of industrial technology, rare earth production is predominantly concentrated in China, with no rare earth mines in Canada and only one, MP Materials at Mountain Pass in California, in the US. Therefore, this project holds significant importance for the development of Canada's rare earth resources.