Canadian Prime Minister Mark Carney speaking in August in this file photo. Credit: PMO
Canada’s Liberal government plans to form a C$2 billion ($1.4bn) sovereign fund for critical minerals, earmark hundreds of millions in mining industry spending and widen exploration tax credits to a dozen other minerals, according to the federal budget presented on Tuesday.
The spending document, which forecasts a C$78.3 billion deficit for the fiscal year to March 31, includes plans to replace the industrial emissions cap. It also proposes incentives that may reduce the tax on capital spending — such as buildings for a critical minerals’ processor — to 0.4%, according to an analysis by CBC.
“Budget 2025 confirms the federal government’s unwavering commitment to the Critical Minerals Strategy released three years ago,” Mining Association of Canada CEO Pierre Gratton said in a statement. “These measures,…
