Federal Budget Would Help Northern Minerals Industry

12 February 2014

The northern minerals industry stands to benefit from several initiatives in the Federal Budget tabled yesterday in the House of Commons.

Economic Action Plan 2014 contains a number of measures to create jobs and opportunities in an uncertain global economy and to return to balanced budgets in 2015. It includes support for the mineral exploration sector, help to assert Canada’s sovereignty in the North, and proposes to make strategic investments in public infrastructure and transportation services across Canada

Specific items of interest to the northern minerals industry are:

• Supporting Mineral Exploration by junior companies by extending the 15-per-cent Mineral Exploration Tax Credit for flow-through share investors for an additional year;
• Helping Canada’s North Realize its Economic Potential, by providing $40 million to the Strategic Investments in Northern Economic Development (SINED) program delivered by the Canadian Northern Economic Development Agency; and
• Investing in Public Infrastructure, including working with territorial governments to develop transportation infrastructure in the North. 

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