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PDAC e-News and Activities, May 30, No. 26
Page Index
Canada-wide system of professional
practice is the ultimate goal
PDAC continues to lobby for ‘super’
flow-through extension
Precious metals added to list of RRSP
eligible investments
Australian study reveals mining’s
positive impact
Companies need to have whistle blower
protection in place
Mining Association of Canada wins
Globe Award for Environmental Performance
GANGUE newsletter now
free on-line
Seminar - How effective is capital market
enforcement in Canada?
SEG issues call for
papers for 2006
Women’s Association
Foundation looking for board members
Canada-wide system
of professional practice is the ultimate goal
One of the main concerns of our members is the requirement for them
to register in separate jurisdictions across Canada depending on where
they are working. This is time-consuming and costly. The Geoscience
Committee, chaired by Richard Moore, is working with affected
individuals, organizations and governments to develop a system of
registration for geoscientists in Canada that would allow for
professional practice without consideration of provincial or territorial
boundaries. The association believes that an internationally recognized,
Canada-wide system of professional practice would promote consistent
standards of practice, high rates of compliance, cost effective
administration, improved flexibility and, most importantly, enhanced
protection of the public. For more information on the committee’s
strategy, contact
Philip Bousquet or
click here.
PDAC continues to lobby for ‘super’
flow-through extension
Canada’s Investment Tax Credit for Exploration or ‘super’ flow-through
program, a tax incentive for grassroots mineral exploration, was
introduced in October 2000 as a temporary measure to help moderate the
effect of a global downturn in mineral exploration in the 1990s. Since
its creation, the original three-year program has been extended twice,
both extensions being for one-year periods. The program is due to come
to an end on December 31, 2005. The Financial and Taxation Committee
believes that the success of the program justifies its extension and is
calling for the program to go on for a further three years. Ideally,
this extension would be the first of a series of rolling three-year
extensions, with annual reviews of the program’s benefits.
Click here for
the association’s position on this issue.
Precious metals added to list of RRSP
eligible investments
Now that the federal government budget is a fait accompli, Canadians
will be able to include their purchases of legal tender bullion coins in
their RRSPs. The change, announced by the Royal Canadian Mint, came into
effect for investments made on or after February 23, 2005. The coins
will qualify as long as they were produced by the Mint and all or
substantially all of their fair market value is attributable to their
precious metal content.
Australian study reveals mining’s positive
impact
A study recently undertaken by the Commonwealth Scientific and
Industrial Research Organization (CSIRO) and the University of Sydney
compares the economic, environmental and social costs of 135 industries.
In a report on the study’s findings, mining was found to be doing much
better than expected. One of the report's authors, Barney Foran, said
mining produced good profits and disturbed the land environment much
less than other industries. "Our work shows that in terms of the triple
bottom line, mining actually has a more positive impact across
environmental and financial indicators than we would have thought," he
said. "For mining, the financial indicators are well above the
economy-wide average, while the environmental indicators are better than
average for each consumption dollar."
Click here to read more.
Companies need to have whistle blower
protection in place
Companies should be aware of multilateral instrument 52-110 which sets
out requirements for companies’ audit committees. Among the requirements
is the whistleblower rule which specifies that companies must set up
procedures for “the confidential, anonymous submission of employees of
the issuer of concerns regarding questionable accounting or auditing
matters.” The instrument came into effect on March 30, 2004, and applies
to issuers “commencing on the earlier of the first annual meeting of the
issuer after July 1, 2004, and July 1, 2005.”
For more information.
Mining Association of Canada wins
Globe Award for Environmental Performance
Congratulations to the Mining Association of Canada (MAC) for winning
the Globe Industry Association Award for Environmental Performance. The
association receives the award for Towards Sustainable Mining, its
stewardship initiative that aims to sustain the industry by increasing
public trust in the industry’s ability to manage environmental and
social issues. The award also covers MAC’s best practice manuals and
training programs in tailings management, energy reporting, external
outreach and crisis management. For more information, contact Maggie
Papoulias at 613 233 9392, ext 325 or 613 371 5007 or visit
www.mining.ca.
GANGUE newsletter now
free on-line
Members are encouraged to check out the website of the Geological
Association of Canada’s Mineral Deposit Division. The website provides
free access to the GANGUE newsletter as well as information on books of
interest to mineral exploration geologists.
Click here for
details.
Seminar - How effective is capital market
enforcement in Canada?
The Capital Markets Institute at the University of Toronto is organizing
a seminar entitled How effective is capital market enforcement in
Canada? The seminar, which will be held on Tuesday, June 14, from 2:00
p.m. to 5:00 p.m. at Rotman Business School, is free but registration is
required. Click here
for details.
SEG issues call for
papers for 2006
The theme of the Society of Economic Geologists’ 2006 (May 14-16)
Biennial Conference is ‘Wealth creation in the minerals industry.’ The
SEG has issued a call for papers which is available
here.
Women’s Association
Foundation looking for board members
The Women’s Association of the Mining Industry of Canada Foundation
provides
scholarships, bursaries and awards to undergraduate students at
degree granting educational institutions and technical schools across
Canada. The foundation is seeking two new members for its board of
directors. The terms of office for the new members will begin at the
association’s annual meeting in October 2005. The board is particularly
interested in persons with financial knowledge and a general interest in
the foundation’s work. For details, contact Carol Ann Devine,
catdevine@sympatico.ca. |
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