Provinces call on Ottawa to expand mining credit
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.
Nearly half of Canada's provinces and territories are urging the federal government to expand eligibility for a mining exploration tax credit, as reported by Global News. The Liberals' 2025 election platform promised to include the costs of engineering and feasibility studies for critical mineral projects under the tax credit. This expansion would assist smaller mining companies in moving from the exploration phase to production.
Key provinces such as Nova Scotia, Manitoba, Saskatchewan, Alberta, British Columbia, and Yukon have all signed letters in support of the campaign. According to Todd Stone, president of the Association for Mineral Exploration, this measure would help projects transition from exploration to development. A report commissioned by the association found that 2,052 projects in Canada are currently in their early stages, highlighting the "valley of death" where projects stall due to difficulty in raising funds for engineering and feasibility studies.
Expanding tax credits to cover these aspects could generate 14,000 to 34,000 jobs over a decade and contribute to $68 billion in GDP growth over the next ten years.
Brief written by urgent.news from Global News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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- Nearly half of provinces, territories call on Ottawa to expand mining tax credit winnipegfreepress.com
- Nearly half of provinces, territories call on Ottawa to expand mining tax credit toronto.citynews.ca
