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VANCOUVER, B.C., October 7, 2026 – The Association for Mineral Exploration (AME) today released an economic impact assessment about the federal government’s commitment to expand eligible activities under the Canadian Exploration Expense (CEE) and broaden the critical Mineral Exploration Tax Credit (METC). The Carney government changed the METC in Budget 2025, and AME is optimistic the government will follow through on its CEE commitment when Budget 2026 is introduced later this year.
“Canada has what the world needs, and we have the opportunity to secure the mineral supply chain, strengthen Canada’s military capacity and ensure Canada’s long-term national and industrial sovereignty,” said Todd Stone, President and CEO of AME. “We know that by expanding CEE eligibility, the federal government will help kickstart 171 mines across the country awaiting commercial production, bolstering Canada’s economic resilience and sovereignty and creating thousands of good, well-paying jobs.”
The EY Report found that the government’s commitment would result in a significant return on investment. The commitment will create:
- As many as 34,000 full time jobs over the next ten years and $1.6 billion in additional annual mineral exploration spending.
- Up to $33 billion in total economic growth from bringing into production at least three to five mines, plus higher mineral exploration spending.
- A 5x return in Gross Domestic Product (GDP) for every dollar the government invests.
“Right now, there is not a single public policy that the premiers are more united on that would have such a significant impact on investment here in Canada. Over the past six months, AME has led a national campaign of more than 170 companies, Provinces, Territories and Nations supporting this policy. AME is joined by the governments of British Columbia, Alberta, Saskatchewan, Manitoba, Nova Scotia and Yukon calling on the federal government to incentivize investors by expanding the CEE in Budget 2026, concluded Stone.
Changes to CEE eligibility will cover engineering, feasibility, and technical costs. It’s a targeted, practical step the federal government can take now to align defence, industrial and investment policy to accelerate mining projects from discovery to development.
The full report and graphics can be reviewed here: Economic Impact Assessment
AME Media Contact:
Kathleen Reid
kathleen@yourplaybook.co
604.724.1242