The federal budget released yesterday includes some positives for the mining industry, according to the Mining Association of British Columbia (MABC).
The association said it is "encouraged" by the government's recognition of the skills shortage issues the industry is facing. It applauds the renewal of the $500-million-per-year Labour Market Agreements in 2014-15 to introduce the Canada Job Grant, which it said will provide opportunities for apprentices and internships.
"MABC also recognizes the 2013 budget measured contribution made to the mining sector and welcomes the official implementation of the 'one project, one process' policy for environmental assessments," said MABC president and CEO Karina Briño.
MABC also said it supports the government's extension of the 15% Mineral Exploration Tax Credit (METC) for flow-through share investors, which it said gives Canadian-based projects a competitive advantage.
Ross Gallinger, executive director of the Prospectors & Developers Association of Canada (PDAC), said, "We are pleased that the federal government has demonstrated their support for our sector by renewing the METC.
"This is a positive step on behalf of the government to ensure that Canadian companies have access to the financial instruments necessary to remain competitive, particularly given the capital-raising challenges many exploration companies are currently facing."
