Vancouver, B.C., Canada – Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, announced that the federal government will extend the 15-per-cent Mineral Exploration Tax Credit for investors in flow-through shares for an additional year, until March 31, 2025. Access to capital is vital for mineral exploration, and the Mining Exploration Tax Credit and the Critical Mineral Exploration Tax Credit incentives have proven effective in helping the industry achieve their capital-raising goals while ensuring the Canadian government can continue to move towards meeting its climate goals for a greener, low-carbon future.
Association for Mineral Exploration’s (AME) President and CEO, Keerit Jutla, noted:
“We are very pleased with this news and would like to thank Minister Jonathan Wilkinson for his tireless advocacy to push for the extension. AME provided a written submission for the pre-budget consultation in February, and met with federal officials in the last two months. While our recommendation was for an extension to 2029, this is a positive step in the right direction. These tax incentives are absolutely critical for our capital-intensive sector and for meeting Canada’s critical mineral ambition.”
The Mineral Exploration Tax Credit, which was scheduled to expire on March 31, 2024, provides important support to junior mineral exploration companies working to unlock Canada’s tremendous mineral wealth, creating jobs, and growing the economy. This extension is expected to provide $65 million to support mineral exploration investment.
About AME
AME is the lead association for the mineral exploration and development industry based in British Columbia. Established in 1912, AME represents, advocates and promotes the interests of more than 5,000 members who are engaged in mineral exploration and development in B.C. and globally. AME encourages a safe, economically strong and environmentally responsible industry by providing clear initiatives, policies, events and tools to support its membership in delivering responsible projects that advance reconciliation and provide benefit to all British Columbians.
AME Contact:
Keerit Jutla
President & CEO, Association for Mineral Exploration
778.772.4410
[email protected]