Canada Grants $10M to Top Mineral Port to Boost Supply Chain
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Canada is investing C$10 million ($7.34 million U.S.) from its National Trade Corridors Fund to alleviate supply chain congestion and modernize an aluminum terminal at the Port of Sept-Îles, the largest mineral port in North America.
“By addressing critical transportation bottlenecks and enhancing our trade corridors, we are laying the foundation for sustained economic growth and prosperity for all Canadians,” said Minister of Transport Pablo Rodriguez, who also holds the post of Quebec lieutenant. “This project underscores the government of Canada’s commitment to ensuring safe and efficient maritime operations while bolstering Canada’s competitiveness in the global market.
Last year, the Quebec port handled 36.6 million metric tons of cargo, up 9.6% compared with 2022. It is located around the north shore of the Gulf of St. Lawrence and has facilities to accommodate the world’s largest bulk carriers. The adjacent town of Sept-Îles is opposite its namesake archipelago that has seven islands. The bay there protects vessels from strong winds and storms.
“The Port of Sept-Îles plays a key role in the economy of our city and the entire region. Its facilities are undoubtedly a major strategic asset to attract new industries to Sept-Îles,” said Denis Miousse, the town’s mayor.
Miousse
The government funds will help the port maintain trade volumes by providing safe infrastructure for marine towing, improve tugboat operations to better serve bulk cargo vessels and provide navigational assistance for oceangoing vessels that transport iron and aluminum.
The $10 million grant contribution completes the $30 million total needed to finance the port project. It includes updating the aging Monseigneur-Blanche terminal, which consists of two docks opposite the winter storage yard.
Gagnon
“The modernization of the Mgr. Blanche terminal will ensure the reliability and safety of maritime services for our users, as well as the safe and sustainable accessibility of this meeting place, which offers our citizens a unique panoramic view of the Bay of Sept-Îles. This will ensure that the largest mineral port in North America and the second-largest in the country in terms of activity will have the quality infrastructure it needs to guarantee the solidity of its supply chains and promote the growth of its exports,” a joint statement from port CEO Pierre Gagnon and Chairman Bernard Lynch said.
Construction is scheduled to start in the fall at the end of the port’s cruise season.
Canada’s National Trade Corridors Fund is a competitive, merit-based program to help infrastructure owners and users invest in critical transportation projects supporting the national economy. A total of $4.1 billion has been committed to fund projects that improve Canada’s roadways, railways, aviation and marine shipping routes to increase domestic and international trade since the fund was started in 2017.
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