Canada is a world leader in sustainable mineral resource development. The minerals industry is a cornerstone of the economy, contributing significantly to Canada’s exports, middle-class jobs and strong communities across the country. Canada’s Minister of Natural Resources, the Honourable Jim Carr, outlined how the Government of Canada is supporting Canada’s minerals industry to ensure that it remains a leading source of good jobs, new opportunities and sustainable prosperity. In his keynote address to the annual Prospectors & Developers Association of Canada’s (PDAC) International Convention this week, the Minister said the Government of Canada will continue to invest in clean technology and ensure regulatory certainty to support one of the country’s oldest industries.
In roundtables with industry executives and Indigenous leaders, the Minister also stressed the importance of collaboration to help drive innovation and ensure collaboration with Indigenous peoples. As well, he said the Government of Canada will continue to invest in public geoscience and provide support to ensure a strong industry for generations to come.
On behalf of the Honourable Bill Morneau, Canada’s Minister of Finance, Carr also announced the proposed extension of the 15% Mineral Exploration Tax Credit for investors in flow-through shares for an additional year, until March 31, 2018. The credit was scheduled to expire on March 31, 2017. The Mineral Exploration Tax Credit helps junior exploration companies raise the capital they need to succeed and provide good, well-paying middle-class jobs for Canadians.
Carr also participated in the second annual International Mines Ministers’ Summit, with 23 counterparts from all regions of the world as well as industry representatives, civil society and subject matter experts to discuss innovation in the mining sector. The Minister asked the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development to prepare a report that identifies the best policies and practices to promote innovation in mining.
“By focusing our efforts on developing innovative and clean methods and technologies and by providing regulatory certainty, we are laying the foundations for the mines of tomorrow and ensuring that this dynamic industry remains a source of jobs and opportunities for generations to come,” he said.