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From Today’s cobalt news.

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Critical minerals mining industry requires more of everything if Canada to be a global player – KPMG

m.miningweekly.com - March 12, 2024

 

 

Nine in ten Canadian mining leaders are optimistic that Canada can be a world leader in critical minerals, yet the overwhelming majority (98%) say their companies require more investment, government commitment, and favourable tax policies to support its growth, finds a KPMG in Canada survey conducted last month…"Canada has put its stake in the ground on critical minerals, but it's clear the industry requires much more support before Canada can be a viable and sustainable global player in the transition to a green economy," says Heather Cheeseman, partner, and national mining leader for KPMG in Canada…"While more than nine in ten mining decision makers are optimistic about the potential for growth, mining companies are having to deal with many unique challenges, including permitting delays, reducing their carbon footprint, and the ongoing challenge of raising capital. Slumping commodity prices is making it all the more challenging."…Respondents were also asked for their opinions on the federal Critical Mineral Exploration Tax Credit (CMETC), which provides investors in companies exploring for certain critical minerals a 30% tax credit based on the amount invested…Mining companies agree the CMETC has been successful in financing and advancing critical minerals exploration activities in Canada. However, many leaders expressed concern with the complication and conditions applicable to the credit…"Canada has a long history of using unique tax mechanisms to encourage mineral exploration and development," says Long. "Flow-through shares continue to be an important source of mineral exploration financing. As the critical minerals industry evolves, innovative federal and provincial tax policies will be needed to spur domestic investment." 

Critical minerals mining industry requires more of everything if Canada to be a global player – KPMG

m.miningweekly.com - March 12, 2024

 

 

Nine in ten Canadian mining leaders are optimistic that Canada can be a world leader in critical minerals, yet the overwhelming majority (98%) say their companies require more investment, government commitment, and favourable tax policies to support its growth, finds a KPMG in Canada survey conducted last month…"Canada has put its stake in the ground on critical minerals, but it's clear the industry requires much more support before Canada can be a viable and sustainable global player in the transition to a green economy," says Heather Cheeseman, partner, and national mining leader for KPMG in Canada…"While more than nine in ten mining decision makers are optimistic about the potential for growth, mining companies are having to deal with many unique challenges, including permitting delays, reducing their carbon footprint, and the ongoing challenge of raising capital. Slumping commodity prices is making it all the more challenging."…Respondents were also asked for their opinions on the federal Critical Mineral Exploration Tax Credit (CMETC), which provides investors in companies exploring for certain critical minerals a 30% tax credit based on the amount invested…Mining companies agree the CMETC has been successful in financing and advancing critical minerals exploration activities in Canada. However, many leaders expressed concern with the complication and conditions applicable to the credit…"Canada has a long history of using unique tax mechanisms to encourage mineral exploration and development," says Long. "Flow-through shares continue to be an important source of mineral exploration financing. As the critical minerals industry evolves, innovative federal and provincial tax policies will be needed to spur domestic investment."