"The mining industry has no stronger partner than this government," said Canada's Finance Minister Joe Oliver to a mining convention on Sunday, March 1, 2015, as he announced measures to help the Canadian mining sector.
Photo Credit: Sean Kilpatrick/CP

Canadian minister: Mining industry has no stronger partner than this government

The Canadian government has announced it is extending, for a year, a 15% Mineral Exploration Tax Credit for investors which was set to expire on March 31, 2015. The announcement was made Sunday (March 1) by Finance Minister Joe Oliver and Natural Resources Minister Greg Rickford in a speech at the 2015 convention of the Prospectors & Developers Association of Canada in Toronto.

“Mining is key for Canada’s prosperity,” said Minister Oliver in a statement. “When we strengthen this industry, we create jobs, growth, and long-term prosperity from coast to coast to coast. We are doing exactly that by cutting red tape, lowering taxes, and expanding free trade across the globe… The mining industry has no stronger partner than this government, under the leadership of Prime Minister Stephen Harper.”

According to a press release from the Finance Ministry, since 2006 when the ruling Conservatives were elected, the Mineral Exploration Tax Credit has helped junior mining companies raise over $5.5 billion for exploration.

The same release points out “According to KPMG, total business tax costs in Canada are now the lowest in the Group of Seven (G-7)—46% lower than in the United States.”

More information:
Finance Ministry press release – Harper Government Announces New Measures to Support Canadian Mining – here
Prospectors & Developers Association of Canada convention details – here

Video trailer for PDAC convention “biggest mining conference in the world”:

twitter.com/wojtekgwiazda

Categories: Economy, Environment & Animal Life, International, Internet, Science & Technology, Politics, Society
Tags:

Do you want to report an error or a typo? Click here!

For reasons beyond our control, and for an undetermined period of time, our comment section is now closed. However, our social networks remain open to your contributions.