The Prospectors & Developers Association of Canada (PDAC) has urged the federal government to swiftly enact legislation extending the Mineral Exploration Tax Credit (METC), warning that delays are undermining investor confidence and Canada’s mineral exploration potential.
PDAC welcomed the federal announcement on March 2, 2025, of a two-year extension of the METC, but expressed concern that the necessary legislation has yet to be introduced. According to the association, a long-term extension is critical to reversing the decade-long decline in equity investment in grassroots mineral exploration across Canada.
PDAC President Karen Rees said the METC has played a vital role in Canada’s mining sector since its introduction in 2000. “The METC has been indispensable to mineral exploration nationwide, helping to generate billions of dollars in equity investment, creating jobs, supporting remote and Indigenous communities, and enabling major mineral discoveries,” she said. “For every dollar the government forgoes, multiple dollars are returned to the Canadian economy, making the program one of the most productive federal initiatives.”
To provide certainty for investors and strengthen the competitiveness of Canadian mining companies, PDAC is advocating for a 10-year extension of the METC, with an option to renew for an additional 10 years at the midpoint. The association argues that such a measure would deliver long-term fiscal stability and encourage sustained investment in early-stage exploration.
PDAC has called on the next Government of Canada to prioritize the issue and introduce METC legislation as soon as the House of Commons reconvenes. The organization is also urging all political parties to support the bill to ensure it receives Royal Assent without delay.
The METC is widely viewed as a key policy tool supporting mineral exploration, particularly in rural, remote, and Indigenous communities, and plays an important role in feeding Canada’s broader mining ecosystem.
PDAC’s full set of policy recommendations for political parties ahead of the 2025 federal election is available on the association’s website.
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