The Association for Mineral Exploration (AME) has welcomed the inclusion of items to encourage and support Canadian mineral exploration in today’s federal Budget 2025.
A strong mineral exploration sector is central to Canada’s future ability to supply the precious and critical minerals that the world needs.
Commenting on federal Budget 2025, AME President and CEO Todd Stone said: “Canada has a generational opportunity to benefit from mineral exploration and future mine development. Today’s budget shows how the federal government intends to grasp that opportunity with tools that bring certainty and investment to Canadian mineral exploration.
“The Association for Mineral Exploration looks forward to working with the federal government to ensure the measures outlined in Budget 2025, and others still to come, position Canada as a global leader in mineral exploration, development and mining.”
AME welcomes recognition of the importance of critical minerals to Canada’s Climate Competitiveness Strategy and the following highlights from the federal Budget 2025:
- Mineral exploration tax credits provide an income tax benefit for people who invest in Canadian mineral exploration (through ‘flow-through shares’). They are a proven tool for attracting investment in Canadian mineral exploration. Budget 2025 includes:
- The extension of the Mineral Exploration Tax Credit to 2027, as announced in March.
- The Critical Mineral Exploration Tax Credit provides an additional credit for investment in critical minerals projects. 12 new minerals essential for defence, semiconductors, energy, and clean technologies have been added to this tax credit: bismuth, cesium, chromium, fluorspar, germanium, indium, manganese, molybdenum, niobium, tantalum, tin, and tungsten.
- First and Last Mile Fund: this fund will help to get new critical mineral projects into production by supporting the energy and transportation infrastructure required. It proposes $371.8 million over four years from 2026-27.
- Critical Minerals Sovereign Fund: This $2 billion, five-year fund will support critical minerals projects and companies through equity investments, loan guarantees, and offtake agreements.
The Association for Mineral Exploration (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 6,000 members who are engaged in mineral exploration and development in BC 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:
Richard Truman
Senior Director, External Affairs
Association for Mineral Exploration
604-404-1031