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June 4, 2010 - No. 72

MPs will vote on Bill C-300 in the fall – WE NEED YOUR SUPPORT TO DEFEAT IT

The PDAC is leading a very active group of associations and mining companies that is working on Parliament Hill, informing MPs of how Bill C-300 will negatively affect Canada’s mining industry if it becomes law.

BUT MPS NEED TO HEAR DIRECTLY FROM AS MANY PEOPLE IN THE INDUSTRY AS POSSIBLE. IN YOUR JULY PDAC NEWSLETTER, WATCH FOR AND TAKE PART IN OUR POSTCARD CAMPAIGN. WE WILL DISTRIBUTE POSTCARDS THAT YOU CAN ADDRESS AND MAIL TO YOUR MP.

Bill C-300 is in the final stages of hearings before the Standing Committee on Foreign Affairs and International Development, having passed through first and second readings in the House of Commons. It is expected to be reported out of committee on June 11, likely without amendments. Once out of the committee stage, the bill will receive a maximum of two hours of debate before a final vote is called to either pass or defeat the bill. These final stages are likely to take place in October or November.

The industry has only five or six months to convince politicians that, although well intentioned, this bill, if passed, will tarnish the image and reputation of the industry and send a strong message internationally that the Canadian government has lost confidence in this economic powerhouse and global leader. Act now by contacting your MP to voice your concerns. Support the Canadian mining industry in opposing this flawed bill.

Federal government introduces national securities regulator legislation

The Government of Canada released the proposed Canadian Securities Act on May 26. The draft legislation is a key step towards the establishment of a national securities regulator, long advocated for Canada by the PDAC. The proposed act would harmonize the legislation governing securities regulation and investor protection in those provinces and territories that choose to be part of the new Canadian Securities Regulatory Authority. While the Department of Finance is trying to encourage as many provinces and territories as possible to join, it has not said how it plans to deal with jurisdictions that choose to maintain independent securities regulators. The PDAC’s securities committee will be conducting an analysis of the proposed legislation and will be submitting its views to the Department of Finance. In the meantime, here are further points contained in the proposed legislation. Members are encouraged to send their comments on this matter.

Students learn about the practical aspects of mineral exploration at PDAC workshop

Twenty-six post-secondary students, handpicked from Canadian universities and enrolled principally in earth sciences courses, took part in the fourth annual PDAC Student-Industry Mineral Exploration Workshop in Sudbury last month. This two-week workshop, with all expenses paid, gives students a chance to learn more about the mineral exploration industry. In a packed program, the students visited Agnico Eagle’s and QuadraFNX Mining’s operations and Xstrata Nickel’s Sudbury nickel smelter. More than 60 volunteers donated their time and expertise to present talks to the students about career development, mineral economics, geochemistry, geophysics and corporate social responsibility in the industry. Special thanks go to the workshop’s patron sponsor, Barrick Gold. A Barrick geologist came from Papua New Guinea to take part in the program. Organizers also wish to thank the Ontario Ministry of Northern Development, Mines and Forestry and Osisko Mining Corporation for their outstanding financial support and PDAC director Glen Mullan for hosting the students at his home during the field trip.

Lobby mission presents industry’s views on Parliament Hill

The PDAC organized a lobby mission to Ottawa recently. The association group met with members of all parties and senior officials of Natural Resources Canada and Fisheries and Oceans Canada. Meetings were held with the Conservative Party’s Aboriginal Caucus and its Mining and Pipeline Caucus.  Discussions during the mission focused on Bill C-300, corporate social responsibility and e3 Plus, aboriginal affairs, regulatory/fisheries habitat, and finance and taxation issues. Representing the association were First Vice-President Glen Nolan and directors and/or committee members Dina Aloi, Normand Champigny, Benjamin Little, and MaryAnn Mihychuk. Staff attending were Tony Andrews, executive director, Philip Bousquet, senior program director, and Jason Wilson, program director, community & resource development. Gerry O’Connell, executive director of the Newfoundland and Labrador Chamber of Mineral Resources, also took part in the mission. For more information, please contact us.

PDAC president tells Australian audience about the benefits of flow-through

Scott Jobin-Bevans, president of the PDAC, was an invited speaker at the annual convention of the Association of Mining and Exploration Companies in Perth, Australia, on June 2. In his presentation, which focused on Canada’s flow-through program, Jobin-Bevans told his audience that the flow-through tax credit is a cost-effective method of increasing domestic mineral exploration and that it has been an important contributor to Canada’s current number 1 ranking in the world for mineral exploration spending. He also cautioned against the introduction of the proposed resource super tax in Australia, calling the tax short-sighted and imprudent. A copy of the presentation is here.

Subscriber service tells readers about new NRCan releases

The Minerals and Metals Sector of Natural Resources Canada publishes a wide range of data on the mineral industry, including exploration statistics and mineral production statistics. To alert readers to new releases of data and publications, the sector is offering a subscriber system. Details about how to subscribe are here. For a full list of recent publications, including the Overview of Trends in Canadian Mineral Exploration, 2009, click here.