KINCARDINE, Ont. — Ontario is backing a $250-million expansion of medical isotope production at Bruce Power through its Indigenous loan guarantee program, aiming to reinforce the province’s position in a fast-growing global market while expanding economic participation for the Saugeen Ojibway Nation.
The provincial guarantee, announced Thursday by the Ministry of Finance, will support an agreement between Bruce Power and Saugeen Ojibway Nation (SON) to increase output of isotopes used in cancer treatment and sterilization of medical equipment. The province says the investment will also create hundreds of jobs and strengthen Ontario’s nuclear supply chain at a time of global economic uncertainty and rising trade pressures.
“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,” Finance Minister Peter Bethlenfalvy said. “The partnership between Saugeen Ojibway Nation and Bruce Power will reinforce Ontario’s strategic position in medical isotope production.”
The loan guarantee, delivered through the province’s Indigenous Opportunities Financing Program and administered by the Building Ontario Fund, is the largest since the program’s launch in 2009. The fund helps Indigenous communities secure financing to invest in major infrastructure and resource projects.
Ontario tripled the program’s size to $3 billion in its 2025 budget and expanded eligibility to include energy and critical minerals, reflecting the province’s broader push to develop domestic industrial capacity.
Energy and Mines Minister Stephen Lecce said the expansion aligns with the province’s plan to double isotope production by 2030.
“Ontario has a plan to double medical isotope production by 2030, advancing life-saving treatment for thousands of Canadians through a powerful partnership with Saugeen Ojibway Nation, Bruce Power and Ontario,” Lecce said. “With ongoing pressure from U.S. tariffs, our government is fortifying our economy by building this homegrown sector using Canadian CANDU technology to save lives, create jobs and improve the quality of life of First Nations. This is Ontario’s nuclear advantage at work.”
Bruce Power’s nuclear generating station supplies about 30 per cent of Ontario’s electricity and has produced medical isotopes for more than three decades. It currently manufactures cobalt-60, widely used to sterilize medical equipment and treat certain cancers, and lutetium-177, which is used in precision oncology to treat prostate cancer and neuroendocrine tumours.
The new investment will expand production capacity to meet growing global demand for isotopes, which play a critical role in cancer treatment and medical sterilization.
Provincial officials emphasized that the agreement also represents a significant step in advancing economic reconciliation.
“This record investment and partnership with Saugeen Ojibway Nation ensures that First Nations are key partners in the future of Ontario’s nuclear advantage. We are seizing the opportunity to strengthen economic reconciliation, support workforce development and produce life-saving technology,” said Indigenous Affairs and First Nations Economic Reconciliation Minister Greg Rickford.
Economic Development Minister Vic Fedeli said the expansion would strengthen Ontario’s role in global health supply chains.
“Ontario is strengthening its position as a global leader in the production of medical isotopes by expanding the supply chains that deliver life-saving treatments to patients. The new partnership between Bruce Power and Saugeen Ojibway Nation will create good-paying jobs, expand domestic production and reinforce Ontario’s role as a trusted supplier of cutting-edge cancer therapies,” Fedeli said.
Health Minister Sylvia Jones said increasing domestic supply would also benefit Ontario patients.
“Our government is protecting Ontario’s health-care system as a global leader in nuclear medicine to ensure timely access to life-saving medications and treatments across the province. By investing to expand the partnership between Saugeen Ojibway Nation and Bruce Power and increase the production of medical isotopes, we’re fueling Ontario-made breakthroughs in cancer care and bringing world-class treatment closer to home for more families,” Jones said.
Bruce Power executives and Saugeen Ojibway Nation leaders described the agreement as both an economic and social milestone.
“This partnership is about more than producing isotopes — it’s about fighting cancer and creating long-term prosperity. It is a powerful example of reconciliation in action. Together, we’re building a future where Indigenous communities share directly in the benefits of clean energy and medical innovation — delivering both health and prosperity for generations,” said James Scongack, Chief Operating Officer and Executive Vice-President, Bruce Power.
Chief Conrad Ritchie of Saugeen First Nation said the investment would provide lasting financial benefits.
“This agreement represents a transformative opportunity for our people. It ensures stable, predictable revenues for generations while strengthening our role in the global medical isotope market,” Ritchie said.
Acting Chief Jessica Keeshig-Martin of Chippewas of Nawash Unceded First Nation added: “Economic reconciliation with Bruce Power and Ontario is important to us and this partnership is a great step along that path. Together, we are supporting producing critical life-saving treatments.”
Building Ontario Fund CEO Michael Fedchyshyn said the guarantee demonstrates how public financing can expand Indigenous ownership.
“This provincial guarantee shows how the Building Ontario Fund enables Indigenous ownership in major, revenue-generating projects. By partnering with Bruce Power and SON, we are helping create long-term economic opportunities for First Nations while supporting innovation in Ontario,” he said.
Local officials also welcomed the announcement, citing its regional economic impact.
“Through the Gamzook’aamin aakoziwin partnership, Saugeen Ojibway Nation, in collaboration with Bruce Power, is leading a made in Ontario solution that saves lives and drives innovation. With the province’s support, this investment in the expanded partnership of isotope production will secure a reliable supply of cancer fighting treatments, create new jobs, advance economic reconciliation and strengthen Ontario’s global leadership in health care, all while delivering lasting benefits to communities across Bruce County,” said Bruce County Warden Luke Charbonneau.
Ontario officials say the investment will help secure long-term supply of critical cancer-fighting isotopes while positioning the province as a leading global supplier, strengthening both its economy and health-care system.