VANCOUVER (miningweekly.com) – The Association for Mineral Exploration (AME) has expressed its support of the balanced 2017 budget delivered by British Columbia’s new Finance Minister Carole James.
Government, through its budget and policies, creates the economic climate central to attracting critical investment in important sectors such as mineral exploration and development in the province. As the sector competes with jurisdictions across the globe, it is essential that companies are able to attract new money, access mineral-rich regions across the province and acquire the permits necessary to do so in a timely manner.
“Today's interim budget is positive with respect to some of the key tools available to the provincial government to encourage investment in mineral exploration and advance the discovery and development of new projects. Specifically, the provincial mining flow-through share tax credit for individuals has been maintained and the expansion of the expenses eligible for the mining exploration tax credit to include environmental studies and community consultation costs, to align with the federal tax rules, is encouraging,” stated chairperson Diane Nicolson.
The Budget 2017 update also confirms increased funding of C$18-million to the Ministry of Energy, Mines and Petroleum Resources over the next three years to support mine permitting and oversight, including compliance and enforcement.
“We appreciate the BC government’s commitment to a strong economy that supports all British Columbians. By working together, we hope to address other key issues to further enable mineral exploration and development, which is critical not only to BC’s prosperity but [also to] ensuring BC is a leader in supplying the resources to build the infrastructure for a future of green energy,” AME president and CEO Edie Thome added in a press release.