Prime Minister Mark Carney takes part in a signing ceremony during the Canada-UAE Investment Summit in Abu Dhabi on Friday.

Prime Minister Mark Carney says Ottawa is working on a $1-billion project aimed at expanding critical minerals processing capacity in Canada, while securing the equivalent of $70-billion in investment from the United Arab Emirates.

The announcements come as Carney concluded a visit to Abu Dhabi, which focused heavily on trade amid concerns about the war in Sudan.

“I’m pleased that an agreement valued over $1-billion is in the process of being finalized,” Carney said in a Friday morning speech to the Canada-UAE Business Council.

“[It] will expand critical minerals processing capacity in Canada, creating jobs, boosting [the] long-term supply of minerals essential

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