Victoria, B.C. February 17, 2026 – Responding to today’s B.C. Budget 2026, the Association for Mineral Exploration (AME) is highlighting the critical role that mining and mineral exploration play in the future of the Canadian economy as the province’s deficit and debt continue to grow at unsustainable levels.
Introduced in the legislature today, the budget shows total cumulative deficits of $46.5 billion over the current fiscal year and subsequent three years of the fiscal plan, with a growing debt-to-GDP going from 31.6 per cent to 37.4 per cent by the end of the fiscal plan period 2028/29. Projected mining revenue of $191 million in 2026/27 with a forecast that grows to $314 million in 2028/29 highlights the pivotal role of mining in the provincial economy.
Our province and country are at a crossroads. From housing and infrastructure to clean energy, technology, and defence, the biggest challenges we face today share a common foundation: mineral exploration.
Ministry of Mining and Critical Minerals funding is essentially flat at $57 million. This follows on from an announcement only two weeks ago of a lift of $3 million for key permitting initiatives like the Mineral Claims Consultation Framework (MCCF) and Notice of Work (NoW) permitting. While we support this announcement and focus on exploration permitting, the lack of an overall lift is concerning.
AME President and CEO Todd Stone said: “Budget 2026 signals serious long-term fiscal challenges for our province in an uncertain geopolitical climate, and mineral exploration and mining are an opportunity to reduce this growing burden. We need governments of all levels to take every step necessary to unleash our sector. There were some disappointing choices made in Budget 2026 that won’t help achieve some of the ambitions related to mineral exploration. If we are going to achieve our goals as a province, we must see claims and permits approved within their set service standards immediately.”
The MCCF began operating on March 25, 2025, and has struggled to meet its service timeline of 90-120 days, with average timelines at 127 days and an expectation for delays to substantially increase. Information released by the Ministry of Mining and Critical Minerals in January indicated a 29% decline in the number of mineral claims staked, and a 60% decline in the total area of claims staked against the seven-year average. Properly resourcing the MCCF is key to getting early-stage mineral exploration and prospecting back on track. It’s clear that the system is not working and if government does not act now, the future of mining in our province will be severely impacted.
Changes to tax measures in budget 2026 are also unhelpful. Instead of including determining the quality of mineral resources in the Mining Exploration Tax Credit Eligibility, government has moved to exclude them. The hard-fought legal battle to include determining economic viability, or engineering feasibility of the mineral resource would help projects bridge the gap between exploration and construction that is so often backlogged by permitting challenges in the province. Additionally, Budget 2026 also includes unhelpful changes to expand B.C.’s PST tax base by including geoscientists, engineering, and bookkeeping. These changes will increase the overall cost of projects and harm BC competitiveness in the long run.
Included in the Ministry of Water Land and Resource Stewardship (WLRS) strategic plan is a lack of transparency on a metric for land parcels transferred to First Nations from 149 in 2025/26 to 322 in 2028/29. Government must be clear with the public about what and how they will be transferring these parcels of land and ensure they do not impact mineral claims holders. The plan also includes a lack of targets, or a clear plan for how to reach their 30×30 goals. AME continues to urge government to look at areas covering around 47 per cent of the province that contain existing conservation measures, as a first step in setting and meeting this goal instead of further restricting economic opportunity.
AME President and CEO Todd Stone added: “It’s unhelpful to see a government who claim to be trying to fix a dire fiscal situation also lean into policy objectives that only serve to reduce access to land for economic development. If the premier is serious about maximizing our opportunities, we must see more clarity on land use planning in our province.”
Mineral exploration is the research and development of the resource economy. There are no mines without mineral exploration. Mineral exploration supports Canadian jobs, talent and entrepreneurs. Consistency and transparency are important to our members to ensure mineral exploration investment comes to – and stays in – BC, and that mineral explorers can access land to assess mineral potential. Without these, AME members cannot explore for and develop the minerals that the world needs, something that is essential to Canada’s economic future.
About AME
AME champions mineral exploration as the foundation of Canada’s economic independence. We connect exploration to mineral development, clean technology, and national security. Through member advocacy, we ensure exploration remains central to Canada’s sovereignty and economic future.
Learn more, sign up for updates, and get involved at mineralsfortomorrow.ca.
AME Contact
Rich Truman
[email protected]
604-404-1031