Canada needs an exploration credit ingrained in the tax code, Raymond Goldie, past president of the Prospectors and Developers Association of Canada, says in a new video.
Last month, the government promised to extend the mineral exploration tax credit (METC) for another two years. But parliament was prorogued when it happened so the move hasn’t been formally approved.
“The market needs certainty,” he told The Northern Miner during the annual PDAC event in Toronto. “Issuers need to know whether the incentive will be around or not for when they need to raise money.”
Goldie highlighted rising costs and uncertain funding as key issues for junior explorers.. The current way of renewing the METC for a year or two adds risk for businesses. Stable policies could encourage more investment in exploration, he said.
Watch the full interview below with The Northern Miner western editor, Henry Lazenby. Joint venture videos are paid-for content in arrangement with The Northern Miner.
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