00:00And today, we're coming together, determined to build on that greatness, to develop the biggest clean energy initiative in North
00:10American history.
00:18To power, to power tomorrow's economy, to strengthen Canada's place in the world, to give ourselves more than any other
00:26nation can take away.
00:28Canada has built big before. The ambitions of James Bay and the original Churchill Falls, those ambitions were dizzying, the
00:38technical challenges were immense, the scales unprecedented.
00:42And today, we're coming together, determined to build on that greatness, to develop the biggest clean energy initiative in North
00:52American history.
01:01To power, to power tomorrow's economy, to strengthen Canada's place in the world, to give ourselves more than any other
01:09nation can take away.
01:10Because when we work together, there is nothing that Canada cannot do.
01:22And as both my colleagues here today alluded to, we're living in a time of great disruption.
01:29Every Canadian is feeling the economic impacts at the kitchen table, at the pumps, on the factory floors.
01:38And we're all experiencing the changing climate, the smoke that's blanketing our nation, the flames that are threatening our homes,
01:47the extreme weather, quote, extreme weather that's becoming all too common while reshaping livelihoods.
01:55Canadians won't simply endure these challenges.
02:00We will meet them with determined action.
02:03We're starting from a position of strength because Canada has what the world wants.
02:09The natural resources, the critical minerals, the clean power that will build this century.
02:14We have the workers, the workers, like Premier Frechette's father, who will bring this vision to life, just as he
02:26did.
02:26The leaders, the leaders behind me, the leaders in front of me, who understand what's possible when we build together.
02:35And we have another thing.
02:37We have trust.
02:39The most valuable commodity in an increasingly volatile and unreliable world.
02:45We have everything we need to build the future that we want and that our children deserve.
02:52We have everything to do to make the weather.
02:56So we're gathered here today, as you know, to announce this historic deal.
03:01The Premier of Newfoundland and Labrador.
03:03The Premier of Quebec.
03:05The leaders of Hydro Quebec.
03:07And Newfoundland and Labrador Hydro.
03:09In full partnership with the newly elected Grand Chief of the Innu Nation of Labrador.
03:16Jody Hashini.
03:18Congratulations again.
03:24As part of this agreement, the federal government will guarantee the financing for the massive gold island power project as
03:32part of a new Atlantic energy strategy under the major projects office.
03:44As part of this agreement, we will co-invest alongside the Innu Nation in the enormous Labrador onshore wind project.
03:56And as part of this agreement, the government of Canada will help finance the new transmission lines that will link
04:01this clean energy to users in Labrador and Quebec.
04:05Because, yes, we love these windswept lands.
04:13The largest clean energy investment in North American history, let's just put this in context, tripling the current generation capacity
04:23of Churchill Falls to that 14,000 megawatts of renewable power.
04:28That's more than the entire generating capacity of BC Hydro.
04:32It's more than double the output of Bruce Power, the largest nuclear plant on this continent.
04:39It is the equivalent of 18 Hoover dams in America at their current capacity.
04:51Enough power to light heat, cool the homes in Toronto, Montreal and Vancouver combined.
04:58To provide the power we need to run the mines, the mills, the factory floors where Canadians will build their
05:03future.
05:04This is nation-building investment on the scale of the Trans-Canada Highway and the St. Lawrence Seaway.
05:12In terms, in vigueur, it's the next Bay James.
05:17For 50 years, this project is a reference and shows what Canada can do when it decides to build a
05:25grain.
05:26Yes, we will start to build a grain.
05:31At the end of today's agreement, there is a more ambitious partnership between the Terre-Neuve and Labrador and Quebec
05:38to develop Gull Island.
05:40It's the most attractive hydroelectric site in America and almost all over the world.
05:47It's a project that has remained on tablets for too long.
05:54It will be made by Hydro-Quebec, by engineers and workers who make Quebec a world-world head of the
06:02field in the field of electricity.
06:12It's only possible because of that expertise.
06:15These are massive new sources of power combined with state-of-the-art transmission networks between Churchill Falls,
06:22Gull Island, Labrador and Quebec that will heat, light and cool our communities and power our growing economies.
06:30Now, let me turn to that last point.
06:33To unlock the potential of the Labrador Trough, which contains some of the highest grade iron ore and graphite deposits
06:42in the planet.
06:43To that end, the Government of Canada is announcing today that we're referring the Labrador Trough to the Major Projects
06:53Office.
07:01So what we have together is Canada's most significant opportunity to connect clean electricity, mining development, transportation infrastructure, processing capacity,
07:10export networks into a single integrated economic corridor.
07:16Through the first and last mile fund, Canada will help finance several major strategic projects right out of the gate
07:22in the Labrador Trough, including the Labrador West transmission expansion study to connect critical minerals mining operations in Western Labrador
07:31to this new electricity grid.
07:39We'll support focused graphite mining projects, which will help supply the battery and energy storage technologies this country's and our
07:46allies need.
07:48We'll support the Cammy mine, which will provide Canadian iron ore to global steel supply chains, just as the world
07:55is looking for new suppliers that it can trust.
07:59And as well, SFPs to expand critical minerals handling capacity and all the related rail infrastructure.
08:15So clean power to run sustainable modern mines, transmission lines to bring power to where it's needed, ports to move
08:23graphite and iron ore to market.
08:24Each investment unlocks the others, underscoring the value of all moving together.
08:31The projects launched today represent a total financial commitment of the partners of approximately $70 billion, the largest single investment
08:42in Canada's history.
08:50The projects that we announced today will create more than 23,000 jobs well-renewed workers for Canadians, nothing but
09:03during the construction phase.
09:05The projects that will lead to your own labour of billions of years, in ingenious land, in engineers, no money
09:10-free market.
09:12The work that will contribute to Canada at the bridge of $31,000 dollars by the beginning of the year.
09:23The projects that will contribute to Canada's highest levels of 30,000 billion dollars in the beginning of the year.
09:26The projects that will then build stronger, stronger and stronger Canada, more resilient, more durable.
09:37We are living through the consequences of a world that collectively hasn't taken climate change seriously enough.
09:50Canada will do our part, not with promises and pronouncements, but with bold actions and major investment.
09:59The best way, and far, to reduce emissions at least, is to electrify our industries, our transports and our buildings.
10:11A strategic electrification can reduce emissions up to five times compared to the current total of emissions related to electricity.
10:23That's why Canada will double its production of electricity with its own sources, to respond to the demand of our
10:34industries, to reduce the energy factors, to protect the environment that our children are going to inherit.
10:46Today's announcement, one other context, will produce enough clean electricity to power every car, every truck, every motorcycle, every bus
10:59in Canada.
11:00And it's one of a series of initiatives that the government of Canada is supporting, helping Canadians electrify their homes,
11:07helping to put more zero-emission vehicles on the road,
11:10and, of course, to make clean generational investments in clean energy.
11:16And we are just getting started.
11:20Today's agreement demonstrates how we can reach new horizons together, and it exists because of the leaders of these two
11:33great provinces.
11:34It exists because of the leadership of Premier Wakeham and Premier Frechette.
11:40Their leadership, their vision, their focus on results, they sat down, they personally sat down, they had their team sit
11:53down and work through difficult issues.
11:57It exists because they shared ambitions, and they could see and forge common ground.
12:03And, yes, it exists because the new nation of Labrador will be a true partner with a real economic state
12:11in all of its success.
12:19And, yes, it exists as well because the federal government is uniting with these partnerships, following their leadership, working together
12:27to make cooperative federalism work for a more prosperous, resilient and sustainable Canada.
12:32And I want to take this moment on this historic day to encourage all leaders, all leaders, to learn from
12:42this example, to be inspired by this vision, execution and focus, inspired by the example of these two premiers, to
12:53choose collaboration, to choose to lower barriers, to choose to build one strong united Canadian economy that works for all
13:01Canadians.
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