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Nearly half of provinces, territories call on Ottawa to expand mining tax credit
A report says covering feasibility studies could add 14,000 to 34,000 jobs over 10 years and lift sector GDP by up to $12.2 billion.
- Nearly half of Canada's provinces and territories are pressing the federal Liberals to fulfill a 2025 election promise to expand mining exploration tax credits to cover feasibility and economic viability studies for critical mineral projects.
- The Association for Mineral Exploration argues junior mining companies struggle to secure funding during the 'valley of death,' a critical period when costly technical studies are required but currently ineligible for existing tax credits.
- An Ernst & Young report found 2,052 projects in Canada currently in early stages and estimated that covering feasibility studies could boost mining sector GDP by up to $12.2 billion and generate up to 34,000 additional jobs over 10 years.
- Spokesperson John Fragos stated the government has already invested billions in the mining sector, noting new measures cover 65 per cent of a mine's assets, though he did not address the specific request to expand eligibility to feasibility studies.
- The Association for Mineral Exploration recently launched a campaign to include the eligibility expansion in the upcoming budget, arguing this change is essential to help projects move from the exploration phase to actual production.
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25 Articles
The Toronto Star+24 Reposted by 24 other sources
Nearly half of provinces, territories call on Ottawa to expand mining tax credit
OTTAWA - Nearly half of Canada's provinces and territories are calling on the federal Liberals to fulfil their election promise to expand eligibility for a mining exploration tax credit to
·Toronto, Canada
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Total News Sources25
Leaning Left15Leaning Right0Center8Last UpdatedBias Distribution65% Left
Bias Distribution
- 65% of the sources lean Left
65% Left
L 65%
C 35%
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