As I said earlier, developing the entire chain, from exploration to electrification, takes and will take a huge amount of capital. Governments at both the provincial and federal levels are involved in these projects. However, the amount of capital required is so massive that companies and investment funds like ours, the Fonds de solidarité FTQ, can't take on the associated risks. It's beyond our financial capacity.
Governments should know that they can intervene and support this sector in order to foster its development, as the Government of Quebec has done.
We're living in a time of major technological upheaval, a new industrial age where new technologies require huge amounts of capital and expenditure. In order for us to reach a point where the cost is fully amortized and benefits the entire economy, governments will first need to make targeted investments in exploration and, above all, in processing.
There will also need to be programs that promote recycling more strongly. For example, governments need to support new technologies for recycling batteries. It's all well and good to talk about exploration and development and how it's part of Canada's DNA. I get it. However, if we want to play a role in the overall value chain, we will have to get involved in every sector in that chain, not just the ones early in the process. That means getting involved not just in processing and development, but also in recycling and the circular economy associated with these metals.
Metals are by definition a natural resource that is unfortunately limited. That's why it's important to take the entire chain into account, and governments have a role to play. They can support us by introducing regulations or programs that would reduce the risks and capital costs associated with the massive investments we need.