TORONTO, ON--(Marketwired - March 06, 2017) - The Honourable Jim Carr, Minister of Natural Resources, announced the renewal of the Mineral Exploration Tax Credit (METC) for one year, along with the maintenance of the flow-through share system, during his address at the Media Reception at the PDAC 2017 Convention.
"Canada's innovative super flow-through share system underpins the success of Canada's mineral exploration and development industry," says PDAC President Glenn Mullan. "PDAC applauds today's announcement, along with the continued commitment from the Government to make Canada the best place in the world to explore."
Renewal of the METC and maintenance of the flow-through share system were key PDAC recommendations for Federal Budget 2017. The METC, which will expire at the end of March, has been renewed by successive governments since its creation as it is a proven, effective incentive to stimulate investment in grassroots exploration.
"Our sector is proud to create economic opportunities for Canadians -- from large cities, to rural, remote and Aboriginal communities," adds Mullan. "The announcement of the maintenance of the super flow-through share system will help Canadian junior explorers raise capital to finance projects across the country."
The announcement kicked off PDAC's four-day convention -- the premier event for the minerals and mining industry.
The Prospectors & Developers Association of Canada (PDAC) is the leading voice of the mineral exploration and development community. With over 8,000 members around the world in all sectors of the mining industry, the PDAC's mission is to promote a globally-responsible, vibrant and sustainable minerals industry. As the trusted representative of the sector, PDAC encourages best practices in technical, operational, environmental, safety and social performance. PDAC is known worldwide for its annual PDAC Convention, regarded as the premier international event for the mineral industry. The PDAC Convention has attracted over 25,000 people from 125 countries in recent years and is currently taking place from March 5-8, 2017 at the Metro Toronto. Please visit www.pdac.ca.