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AME Budget 2026 Statement
“We are disappointed that Budget 2026 missed an opportunity to take the steps needed to unlock Canada’s critical minerals.
We worked diligently to build support across the provinces and territories for expanding the Canadian Exploration Expense. It is the single biggest tax policy measure the government has to move early-stage exploration projects through the valley of death to a promising operating future. This budget does not address that gap. Canada’s global and domestic opportunity to unlock mineral sovereignty will have to wait for another day.
We are heartened, though, that the government clearly understands the challenge. This budget includes measures to help early-stage technology companies access capital. We need the same level of support for mineral exploration companies. As a former tech founder, we used programs like SR&ED and IRAP to scale our company. Ottawa has addressed the funding and scaling challenge faced by early-stage tech companies, but has not yet done the same for early-stage exploration companies.
That makes us more determined than ever. The critical minerals our country desperately needs starts with early exploration, and Canada’s energy security, food security, national security and economic sovereignty depends on accelerating critical minerals projects today. With support from provinces, territories, Indigenous communities and industry, we will keep working with the federal government to get this done in the months ahead.”
Todd Stone, President & CEO, Association for Mineral Exploration