Mining News: Northern Neighbors: Rickford details Canada support of mining

Canada Minister of Natural Resources Greg Rickford July 14 reiterated the federal government’s support of Canada’s mining sector. Rickford, who is also the minister for the Federal Economic Development Initiative for Northern Ontario, delivered this message during a keynote speech at the Greenstone Mineral Exploration Forum in Ontario. According to the natural resources minister, the mining, minerals and metals sector accounted for nearly C$63 billion of Canada’s gross domestic product and one-fifth of the country’s merchandise exports during 2014. With Canada attracting roughly 14 percent of global mineral exploration budgets and more than 200 active mines across the country, the mining sector employed nearly 380,000 Canadians, including about 10,000 Aboriginal peoples. In outlining Canada’s ongoing support for the mining sector, Rickford highlighted the following measures from Economic Action Plan 2015: the federal Mineral Exploration Tax Credit was extended for another year to provide junior mining companies with improved access to exploration financing; the definition of Canadian Exploration Expenses was expanded to include costs associated with environmental studies and community consultations; $23 million allocated to stimulate the technological innovation needed to develop rare earth elements and chromite over five years; and the Targeted Geoscience Initiative, a geoscience program that provides industry with the next generation of geoscience knowledge and innovative techniques to better detect buried mineral deposits, was renewed for C$22 million over five years. “Our government’s enhanced support for the mining industry through Canada’s Economic Action Plan will help ensure a thriving, dynamic mining sector that will provide jobs and growth for Canadians,” said Rickford. The minister also highlighted the importance of collaboration and consultation in the responsible development of Canada’s natural resources.

- SHANE LASLEY

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