Federal economic update: Support for mining exploration
QMEA satisfied with the renewal of the tax credit
ROUYN-NORANDA, Quebec, Nov. 23, 2018 (GLOBE NEWSWIRE) — The Quebec Mineral Exploration Association (QMEA) applauds the support for the development of Quebec’s mineral sector with the announcement made by Canada’s Finance Minister Bill Morneau aiming to extend the Mineral Exploration Tax Credit, for a period of five (5) years, until March 2024. This tax credit helps junior exploration companies raise the capital they need to develop their projects. This is the first credit renewal of more than one year since its inception in 2000.
“The QMEA supports all efforts aiming to help our exploration companies, which allows them to invest in research and development and contribute to the discovery of new deposits. We welcome the support of the federal government, which will increase investor certainty and confidence. This announcement will ensure that our exploration SMEs will be better able to plan the implementation of their projects,” said Mr. Mathieu Savard, Chair of the QMEA Board of Directors.
With this announcement, the government is committed to fostering a Canadian investment climate that continues to compete with many other jurisdictions and industries. The government recognizes the importance of mineral exploration and its contribution to the development of Québec and its resource regions.
The key measures that attract our attention are the federal government’s commitment to a regulatory reform program, which proposes several steps in the government’s efforts to reform and modernize federal regulations.
“We support the government’s commitment to modernizing regulations to reduce the administrative burden, while respecting the environment and protecting the health and safety of Canadians. This will greatly help companies to more easily predict the development of multi-year exploration projects,” said Valérie Fillion, Executive Director of QMEA.
ABOUT THE MINING EXPLORATION ASSOCIATION OF QUEBEC (QMEA)
THE QMEA IS A PROFESSIONAL AND INDUSTRIAL ASSOCIATION REPRESENTING STAKEHOLDERS WORKING IN THE FIELD OF MINING EXPLORATION IN QUEBEC. FOUNDED IN 1975, THE ASSOCIATION HAS A MISSION TO PROMOTE THE SUSTAINABLE EXPLORATION AND RESPONSIBLE EXPLORATION OF QUEBEC’S MINERAL RESOURCES AND THEIR ESSENTIAL CONTRIBUTION TO THE QUEBEC ECONOMY. IT GATHERED 1200 INDIVIDUAL MEMBERS (PROSPECTORS, GEOLOGISTS, GEOPHYSICIANS, BROKERS, FISCALISTS, LAWYERS, ETC.) AND 200 CORPORATE MEMBERS FROM THE QUEBEC MINING INDUSTRY (JUNIOR AND MINOR EXPLORATION COMPANIES, OPERATING COMPANIES, FIRMS OF ENGINEERS – CONSULTING IN GEOLOGY, GEOPHYSICS, DRILLING COMPANIES, SERVICE COMPANIES, EQUIPEMENTIERS, ETC.). IT IS DIRECTED BY A BOARD OF DIRECTORS OF FIFTEEN PEOPLE FROM DIFFERENT COMPONENTS OF MINING EXPLORATION. THE ASSOCIATION ANNUALLY ORGANIZES XPLOR, A CONGRESS WHICH WILL GATHER THE QUEBEC MINING INDUSTRY IN MONTREAL ON OCTOBER 23rd AND 24th, 2019.
SOURCE AND INFORMATION:
DIRECTEUR DE PROJETS
819 762-1599 POSTE 222