- The 2023 Canadian federal budget was seen as good news from QMC Quantum Minerals (QMC)
- The federal budget features multiple measures aimed at combatting climate change, transforming the nation’s economy, and fostering the development of future net-zero industries
- The latest federal measures include investment tax credits, low-cost strategic financing, and targeted investments and programs to address the distinct requirements of industries or projects with national economic importance
- QMC Quantum Minerals Corp. (QMC) opened trading at C$0.245
The 2023 Canadian federal budget was seen as good news from QMC Quantum Minerals (QMC).
The federal budget features multiple measures aimed at combatting climate change, transforming the nation’s economy, and fostering the development of future net-zero industries. The latest federal measures include investment tax credits, low-cost strategic financing, and targeted investments and programs to address the distinct requirements of industries or projects with national economic importance. The company pointed to the newly introduced Investment Tax Credit for Clean Technology Manufacturing, of being particularly useful to its operations, estimated to cost C$11.1 billion over 12 years.
Through the Canadian Critical Minerals Infrastructure Fund, C$1.5 billion will be made available to support clean energy and transportation infrastructure projects necessary to accelerate critical minerals production. An additional C$1.5 billion will be made available through the Strategic Innovation Fund to support advanced manufacturing, processing, and recycling. The federal budget also highlighted the importance of establishing major battery manufacturing in Canada.
The company’s President and Chief Executive Officer, Balraj Mann was pleased with the federal budget’s emphasis on green economy investments.
“The variety of measures introduced demonstrates the government’s commitment to addressing climate change and progressing towards net-zero emissions. Our Irgon Lithium Mine project will be an important part of Canada’s critical mineral supply chain.”
Following last week’s meeting between Canada’s Prime Minister and the U.S. President, CEO Mann says this reaffirms the belief that the two countries will work together to foster a North American critical mineral supply chain.