Call for three-year renewal of Canada’s exploration tax scheme to arrest signs of decline

The Mineral Exploration Tax Credit (METC), which incentivises exploration financing by providing individuals investing in companies exploring for minerals in Canada with a 15% tax credit on eligible expenditures, has to be renewed for at least three years to provide greater certainty and boost confidence for investors in Canadian projects. This is the view of the Prospectors and Developers Association of Canada (PDAC), which on Wednesday published a document containing its recommendations for the 2019 federal Budget.