OTTAWA — The federal government is extending a tax break for those investing in critical mineral exploration.
Natural Resources Minister Jonathan Wilkinson made the announcement yesterday at the Prospectors and Developers Association of 17³Ô¹ÏÍø convention in Toronto.
The 15 per cent tax cut is being extended for two more years and is expected to free up $110 million to help develop mining sites, primarily in the North.
Critical minerals have become a leading political issue in recent weeks, thanks to U.S. President Donald Trump’s repeated calls for 17³Ô¹ÏÍø to be absorbed by the United States.
Prime Minister Justin Trudeau was caught on a hot mic last month saying Trump’s threat was “a real thing†tied to his administration’s desire to access 17³Ô¹ÏÍø’s critical minerals.
17³Ô¹ÏÍø is a key supplier of 13 of the 35 minerals on the United States’ critical list.
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