The provincial government is putting more money into the creation of medical isotopes at Bruce Power.
On Friday, ministers gathered in Kincardine to announce a $250 million provincial guarantee through the Indigenous Opportunities Financing Program, as part of an agreement between Bruce Power and Saugeen Ojibway Nation.
"As part of our plan to protect Ontario, our government is proud to support a partnership that strengthens Indigenous participation in Ontario’s economy and expands access to life-saving medical treatments for people here at home and around the world," said Minister of Finance Peter Bethlenfalvy. "The partnership between Saugeen Ojibway Nation and Bruce Power will reinforce Ontario’s strategic position in medical isotope production."
According to the province, the guarantee is the largest of its kind since the Indigenous loan guarantee program began in 2009.
"This agreement represents a transformative opportunity for our people," said Saugeen First Nation Chief Conrad Ritchie. "It ensures stable, predictable revenues for generations while strengthening our role in the global medical isotope market."
Bethlenfalvy was joined by Minister of Energy Stephen Lecce and Minister of Rural Affairs Lisa Thompson, as well as Bruce County Warden Luke Charbonneau, Acting Chief of Chippewas of Nawash Unceded First Nation Jessica Keeshig-Martin, and Kincardine Mayor Ken Craig.
The province plans to double medical isotope production by 2030. Currently, Bruce Power produces the cobalt-60 and the lutetium-177 isotopes.
