PDAC was encouraged the federal government spoke of extending the Mineral Exploration Tax Credit (METC) for a further two years. However, the organization is bothered that legislation has not materialized. A long-term solution is essential to provide the certainty needed to reverse the decade-long decline in equity investment in grassroots exploration across Canada.
PDAC President Karen Rees said: “Since its introduction in 2000, the METC has been indispensable to mineral exploration across the country — helping to generate billions in equity, creating jobs, supporting remote and Indigenous communities, and enabling major discoveries that feed into Canada’s broader mining ecosystem. For every dollar the government forgoes, multiple dollars flow back into Canada’s economy, with rural, remote, and Indigenous communities seeing substantial benefits. Consequently, the program stands as one of the most productive federal initiatives available.”
Enacting a more permanent solution — through a ten-year extension of the METC, with an option to extend for an additional 10 years at the halfway point — will give Canadian companies a competitive edge and provide domestic investors with much-needed fiscal certainty.
PDAC calls on the future federal government to prioritize this recommendation and introduce legislation as soon as the House of Commons resumes, urging all parties to support the effort so it can reach Royal Assent without delay.
To see the full list of PDAC’s recommendations for parties in the 2025 federal election, visit: https://pdac.ca/programs-and-advocacy/regulatory-submissions/pdac-platform-roadmap
Comments