British Columbia Mining Sector Stakes Claim to New Funding, Improved Service

British Columbia Mining Sector Stakes Claim to New Funding, Improved Service

January 29, 2015 Posted by Mary Meldrum

Premier Christy Clark gives BC's mining sector news they can dig at the opening of Roundup 2015.

A Major Mines Permitting Office will be established in British Columbia to improve the co-ordination of major mine permits across government, add staff to conduct more inspections and permit reviews, and maintain improved turnaround times for notice of work permits.

While welcoming delegates to the 2015 Mineral Exploration Roundup in Vancouver on January 26, Premier Christy Clark announced permanent funding to support the province’s mining sector. “Up to 10 new mines are expected to proceed in the next few years and this new funding will make sure we are ready to support these projects and ensure the safety of this important industry as it continues to grow,” said Premier Clark. “B.C.’s mineral exploration and mining industry is a great comeback story and today we have a significant opportunity to create thousands of jobs by opening new mines and expanding existing ones.”

Premier Clark also announced that government will extend the $10-million mining flow-through share tax credit program to the end of 2015 to support investment in mining exploration. The credit helps junior exploration companies continue to make important resource discoveries by providing an incentive that can be used to raise additional investment revenue. To further encourage exploration in B.C., Premier Clark also committed to extending the Province’s New Mine Allowance to 2020. The tax credit combines with other mineral tax provisions to support new mines and major expansions by allowing them to deduct 133% cent of their capital costs.

“Today’s announcement of the Major Mines Permitting Office demonstrates that the government continues to take steps each year to improve the permitting process for the industry,” said Gavin Dirom, president and CEO of British Columbia’s Association for Mineral Exploration, hosts of the annual Roundup, which is widely regarded as the world’s premier technical mineral exploration conference. “…We are also very pleased to see the continuation of the flow-through share program for 2015, which will encourage more companies to explore for minerals in the province.”

“MABC welcomes the announcement of additional permanent funding for the Ministry of Energy and Mines and the creation of the Major Mines Permitting Office,” said Karina Briño, president & CEO of the Mining Association of BC. “B.C.’s competitive advantage as a mining jurisdiction and the creation of jobs across the province are dependent on an effective mine permitting process. We look forward to continuing to work with government on the implementation of the new service delivery model.”

British Columbia, Canada is internationally recognized as a centre of expertise in mining, metallurgy, environmental engineering, mine safety, and geoscience. The province is home to the world’s largest concentration of exploration companies and mining professionals, with more than 800 mining and mineral firms and 400 service suppliers choosing Vancouver as their base of global operations. Learn more about mining sector opportunities in B.C.
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1 Comments listed. Add yours.

Mar 31, 2015
@ 9:27AM
Chris Wright Great news!!

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