The CMETC is a new incentive that provides investors in companies exploring for certain critical minerals a 30% tax credit based the amount invested. This is double the current 15% credit available with the Mineral Exploration Tax Credit (METC), and the legislation outlines how funds must go towards exploration for one of the following 15 minerals: copper, nickel, lithium, cobalt, graphite, a rare earth element, scandium, titanium, gallium, vanadium, tellurium, magnesium, zinc, a platinum group metal, or uranium. 

According to the legislation, funds raised under the CMETC mechanism will require a qualified person to certify the primary targets of exploration are within the listed mineral suite and that the amendments came into force on April 7th, 2022. Following the legislation, on Dec. 2022 Canada Revenue Agency published the certification form that the qualified person must fill. Please see the relevant links in the tiles below.