TORONTO — The Honourable Jim Carr, Minister of Natural Resources, announced the renewal of the Mineral Exploration Tax Credit (METC) for one year, along with the maintenance of the flow-through share system, during his address at the Media Reception at the PDAC 2017 Convention.
“Canada’s innovative super flow-through share system underpins the success of Canada’s mineral exploration and development industry,” says PDAC President Glenn Mullan. “PDAC applauds today’s announcement, along with the continued commitment from the Government to make Canada the best place in the world to explore.”
Renewal of the METC and maintenance of the flow-through share system were key PDAC recommendations for Federal Budget 2017. The METC, which will expire at the end of March, has been renewed by successive governments since its creation as it is a proven, effective incentive to stimulate investment in grassroots exploration.
“Our sector is proud to create economic opportunities for Canadians—from large cities, to rural, remote and Aboriginal communities,” adds Mullan. “The announcement of the maintenance of the super flow-through share system will help Canadian junior explorers raise capital to finance projects across the country.”
The announcement kicked off PDAC’s four-day convention—the premier event for the minerals and mining industry.