Canada’s budget extends tax relief but leaves explorers wanting

Ottawa’s five-year extension of mineral exploration tax credits has won praise from Canada’s prospectors association, but British Columbia’s exploration group says the budget misses a key change needed to help discoveries become mines. Thursday’s federal budget proposes keeping the 15% Mineral Exploration Tax Credit and 30% Critical Mineral Exploration Tax Credit available through March 31, 2032, providing an estimated $956 million (US$684 million) in support over five years. Ottawa also proposes $424. 4 million over four years, starting in 2027-28, to renew the Canadian Critical Minerals Strategy.