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PDAC Applauds Federal Budget's Support of the Mineral Exploration Sector

Mar 22 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwire) -- 03/22/13 -- The Prospectors & Developers Association of Canada applauds the Harper government's budget announcement of a renewed commitment to the Mineral Exploration Tax Credit (METC), as well as key investments in skills training and aboriginal communities.

"The mineral exploration industry is a key driver for our economic recovery and provides critical economic stimulus to some of Canada's most remote communities," said Ross Gallinger, PDAC executive director. "The Government of Canada's support for industry is recognized and appreciated."

Exploration and mining remain a strategically important sector to the Canadian economy. The industry generates revenue and stimulates growth across the length and breadth of the country, from Vancouver Island to Newfoundland, from Southern Ontario's salt mines to the metal and diamond mines of the Far North. The sector has a substantial economic impact on our nation's north and on Aboriginal communities.

"We are pleased that the federal government has demonstrated their support for our sector by renewing the METC. This program has a proven track record of keeping jobs and investment in Canada and will continue to encourage investment in Canadian exploration projects," said Gallinger. "This is a positive step on behalf of the government to ensure that Canadian companies have access to the financial instruments necessary to remain competitive, particularly given the capital-raising challenges many exploration companies are currently facing."

The PDAC supports the Economic Action Plan 2013 commitments that provide support for skilled trades and post-secondary education. "The PDAC is very supportive of the investments in education and training, that we believe will help provide all Canadians with greater choice and opportunity, specifically, the diverse range of career options within the exploration and mining sector," said Gallinger.

While not specifically referenced in the budget, the PDAC is also eager to continue dialogues with the federal government on the Geo-mapping for Energy and Minerals (GEM) program which provides critical geoscience knowledge necessary for exploration to guide investment decision, as well as for government to inform land-use decisions such as the creation of parks and other protected areas.

About the PDAC

The Prospectors & Developers Association of Canada (PDAC) is a national association representing the mineral exploration and development industry with over 10,000 individual and corporate members. The PDAC Convention-the mineral industry's largest annual event-took place March 3 - 6, 2013, and hosted more than 30,000 attendees.



Contacts:
Media Contact
Prospectors & Developers Association of Canada (PDAC)
Steve Virtue
Senior Director, Public Affairs & Communications
416-326-1969 x225





Source: Marketwire


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