Question Period Note: Mining Sector Support

While the mining industry is a key contributor to Canada’s economic well-being, global trade tensions continue to create uncertainly for the global economy and commodity markets. The Government of Canada will continue to support the mineral industry to ensure it remains competitive.

• Canada’s mining industry is a source of well-paid, middle class jobs in Canada’s rural, remote, and northern communities. It is also an important source of jobs and economic opportunities for Indigenous peoples.
• That is why our government worked with the provinces and territories, industry, Indigenous peoples and stakeholders to release the Canadian Minerals and Metals Plan, a long-term vision—backed by a concrete action plan — to boost Canadian competitiveness and secure Canada as the leading mining nation.
• To support industry through the COVID-19 pandemic, we have introduced specific mining-related measures:
o A 12-month extension for junior mining exploration companies to spend capital raised via flow-through shares, allowing them to safely plan when to continue operations.
o We amended the Nunavut Mining Regulations to waive rent on mineral leases for one year.
• In response to the impacts of the COVID-19 crisis, Canada’s mines ministers and industry confirmed that the plan will drive economic recovery and support an innovative, low carbon, highly competitive sector.
• In addition to measures to maintain our tax competitiveness, our government has taken important steps to support this industry with strategic investments in innovation and infrastructure:
o We announced more than $365 million for a five-year extension of the Mineral Exploration Tax Credit, which will help junior exploration companies raise the capital they need to find new mines and create the mining jobs of tomorrow;
o We committed up to $247 million to the Yukon Resource Gateway Project, to upgrade infrastructure and support the development of new mines in the territory;
o We launched the $10 million Crush It! Challenge to advance the use of clean technology, reduce environmental impacts and improve energy efficiency at Canadian mines;
o We invested $5 million through the Clean Growth Program to support the electrification of Goldcorp’s Borden mine, helping reduce greenhouse gas emissions and enabling the transition to a low-carbon future.
Supplemental Messages:
• Canada’s minerals and metals are critical inputs to clean technologies that will propel our country towards a low-carbon future.
• In a world that increasingly demands sustainably produced products, our mining industry is a global leader in environmental practices and corporate social responsibility.

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