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Mineral exploration is the R&D of the resource economy. There are no mines without mineral exploration. Mineral explorers support well-paying Canadian jobs, talent and entrepreneurs.
AME’s federal budget recommendations are focused on strengthening Canada’s mineral exploration ecosystem by providing the investment certainty, project-advancement tools, and policy conditions needed to support new discoveries and move promising projects toward responsible development.
The following policy recommendations support a wide breadth of small and medium enterprises (SME) from coast, to coast, to coast. These are changes that would not just benefit major projects, but the entrepreneurs who hope to make discoveries that will one day be major projects. Investing in explorers is not just about today. It’s about investing in Canada’s future.
- Recommendation 1: That the Government extend the Mineral Exploration Tax Credit (METC) and the Critical Mineral Exploration Tax Credit (CMETC) for a minimum of 10 years to March 31, 2037.
- Recommendation 2: That the Government create a targeted Mineral Project Advancement Tax Credit to support technical studies that move Canadian discoveries toward development readiness.
- Recommendation 3: That the Government establish a formal dual-use designation for critical mineral projects that serve both civilian economic and national defence purposes, and provide designated projects with specific support.