As a part of Finance Canada’s pre-budget 2023 consultations, PDAC has offered a list of recommendations that would help bolster the competitiveness of Canada’s mineral exploration and development industry.
PDAC Recommendations for Budget 2023
That the Federal government increase the Mineral Exploration Tax Credit (METC) from 15% to 30% in each of the territories, and renew it to 2027, to align with the expiration of the Critical Mineral Exploration Tax Credit (CMETC).
That the Federal government expand the eligibility of Canadian Development Expenses (CDE) for critical mineral mine development from 30% currently to 100% to match the eligibility under Canadian Exploration Expenses (CEE), and to create a 5 year review process of both CDE and CEE, tied to the 5 year renewal cycle of the METC and CMETC.
That the Federal government put in place a one-window approach to facilitate access to available funding for early engagement and community capacity building with First Nations to support Indigenous participation in critical mineral projects, Canada’s critical mineral strategy and initiatives like the development of the National Benefits Sharing Framework.
That the Federal government significantly expand the funding provided to the Geological Survey of Canada (GSC) to accelerate development of a Pan-Canadian Geoscience Strategy (PGS) and co-fund provincial and territorial geoscience organizations to collaboratively develop comprehensive, regional-level mineral and energy potential models for application in evidence-based land management and conservation planning.
That the Federal government dedicate resources to facilitate direct engagement with Indigenous peoples and the mineral exploration industry across Canada, to develop and implement the UNDRIP Action Plan, on issues that affect infrastructure, economic development, and regulatory consultation processes.
That the Federal government expedite the release of funds and fast track the development of broadband infrastructure in the north, particularly in the territories and First Nations communities.