THUNDER BAY – MINING NEWS: As mineral exploration continues to be a critical economic engine for communities across Canada—especially in the North—the Prospectors & Developers Association of Canada (PDAC) is urging the federal government to enact a long-term extension of the Mineral Exploration Tax Credit (METC) to secure future investment and revitalize grassroots exploration.
While a two-year extension of the METC was announced on March 2, 2025, no formal legislation has followed, leaving industry players and investors in a state of uncertainty.
“Since its introduction in 2000, the METC has been indispensable to mineral exploration across the country,” said PDAC President Karen Rees. “It supports job creation, Indigenous and remote community development, and discoveries that fuel Canada’s mining ecosystem.”
Northern Ontario Stands to Benefit
For regions like Northern Ontario and Northwestern communities such as Thunder Bay, Greenstone, and Red Lake, the METC has proven critical in unlocking exploration in remote and underexplored areas, generating billions in equity investment.
Without long-term certainty, PDAC warns, investment in early-stage exploration will continue its decade-long decline, weakening Canada’s ability to discover and develop new critical mineral resources.
PDAC’s Call to Action
PDAC is advocating for a 10-year extension of the METC, with an option to review and extend after five years, to give domestic and international investors confidence in Canada’s exploration climate. The association is calling on all federal parties to introduce and pass legislation swiftly once Parliament resumes.
“For every dollar the government forgoes, multiple dollars are injected into the Canadian economy,” added Rees, noting that remote, rural, and Indigenous communities receive direct economic benefits through exploration-driven job creation and local contracting.
Industry Backbone
According to Natural Resources Canada, the mining sector employed over 711,000 Canadians and contributed $159 billion to GDP in 2023. With global demand rising for critical minerals like lithium, copper, and nickel, PDAC maintains that stable fiscal policies like the METC are essential to keeping Canada globally competitive.
To learn more about PDAC’s recommendations heading into the 2025 federal election, visit:
🔗 pdac.ca/platform-roadmap
