Association for Mineral Exploration British Columbia (AME BC)

Association for Mineral Exploration British Columbia (AME BC)

March 19, 2007 19:03 ET

AME BC: BC's Mineral Exploration Industry Encouraged by Federal Budget

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 19, 2007) - "The continuation of the federal mineral exploration tax credit and funding for a Major Projects Management Office will encourage investment in mineral exploration leading to the discovery of new mines," according to Dan Jepsen, President and Chief Executive Officer of the Association for Mineral Exploration BC.

"AME BC is pleased that the federal government has addressed some of the issues facing the mineral exploration and mining industry in BC," said Jepsen. "The continuation of the 15% federal mineral exploration tax credit through March 2008 complements the provincial government's extension of the provincial super-flow through program. We are particularly encouraged by the federal government's commitment of $60 million for the Major Projects Management Office to streamline the review of large natural resource projects. Out of 52 mining projects involved in or about to enter environmental assessment process nationwide, 25 are in BC. This initiative will reduce delays in the federal environmental assessment and regulatory approval process while ensuring that mining projects benefit local communities and First Nations."

"We are also pleased to see a commitment to labour market training and funding for the Aboriginal Skills and Employment Partnership," continued Jepsen. "We are, however, concerned that the budget does not include a commitment to the Cooperative Geological Mapping Strategies, the ten-year geoscience plan approved by all of Canada's mines ministers in 2000. A high quality geoscience database is a key competitive advantage internationally, especially as jurisdictions overseas improve the quality of their geological databases. Despite increased mineral exploration expenditures nationwide, Canadian metal reserves are at a 25-year low. Geoscience investment is necessary to discover new mines, which will ensure that British Columbians continue to benefit from the high-wage, family supporting jobs that mining provides in communities throughout the province."

About AME BC

The Association for Mineral Exploration BC (AME BC) represents over 3,900 members including geoscientists, prospectors, engineers, entrepreneurs, exploration companies, suppliers, mineral producers, and associations who are directly or indirectly engaged in mineral exploration in British Columbia and throughout the world. Through leadership, partnerships and advocacy, AME BC promotes a sustainable environment and business climate for the mineral exploration industry on behalf of its members. AME BC is regarded as the predominant voice of mineral exploration and related issues in the province.

Contact Information