Miners seek exemption from Canadian tax hike to save equity deals

  • Monday, May 13, 2024
  • Source:ferro-alloys.com

  • Keywords:nickel, ore, steel
[Fellow]Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains taxes, warning the hike will make it harder for junior miners to raise money to find new mineral deposits.
[Ferro-Alloys.com] 
 
Miners seek exemption from Canadian tax hike to save equity deals
 
Canada’s mining industry is pushing for an carveout to the federal government’s proposed increase to capital gains taxes, warning the hike will make it harder for junior miners to raise money to find new mineral deposits.
 
For many investors, the tax hike would “significantly reduce” the value of a measure called the Mineral Exploration Tax Credit, or METC, which is designed to help companies raise money to explore for critical minerals like copper, nickel and lithium, according to the Mining Association of Canada.
 
The exploration tax credit is part of a basket of incentives Canada has introduced to stimulate financing of higher-risk mining projects in the country. 
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  • [Editor:邢亚敏]

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