MAC believes Budget 2022 reinforces the government’s commitment to climate action and supply chain security goals by providing strategic funding and programmatic supports to Canada’s minerals and metals sector, underscoring a recognition that the world is better off on climate change when Canada wins on critical minerals.
Specifically, the budget:
- Commits C$80 million to public geoscience and exploration programs to help find the next generation of critical minerals deposits.
- Doubles the Mineral Exploration Tax Credit for targeted critical minerals, including nickel, copper, cobalt, rare earths and uranium.
- Dedicates C$1.5 billion for new infrastructure investments to unlock new mineral projects in critical regions, such as the Ring of Fire.
- Allocates C$1.5 billion to invest in new critical minerals projects, with a priority focus on mineral processing, materials manufacturing and recycling for key mineral and metal…
