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Canada mining tax incentives could add $1.1B in annual exploration

EY estimates expanding eligible mining tax credits could drive up to C$1.6 billion in additional annual exploration spending in Canada.

Reported · Written up by our desk · Mining

Expanding Canada’s mining tax incentives could attract up to $1.1 billion (C$1.6 billion) in additional annual exploration spending, according to an analysis commissioned by the BC-based Association for Mineral Exploration, as reported by Mining.com.

The push would broaden what qualifies as exploration expenses by including feasibility work and extending tax credits, which EY said could help advance three to five additional mines if market and policy conditions are favourable.

AME president and CEO Todd Stone said the incentives could help secure mineral supply chains and support long-term national and industrial sovereignty, Mining.com wrote.

Mining.com also notes AME is seeking to close a financing gap between discovery and determining whether deposits can support mines, while Canada’s Liberal Party platform pledged to expand eligible exploration activities and Budget 2025 proposed exclusions for some expenses.

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