• UPDATE: Positive news from PDAC 2025 as Minister Johnathan Wilkinson announced a two-year extension to the Mineral Exploration Tax Credit (METC) until 2027. This commitment sets the stage for the extension to be reflected in legislation once parliament resumes, and PDAC now awaits confirmation from CRA on how today's announcement will be administered if legislation doesn't materialize before April 1st. PDAC continues to advocate for making the METC a permanent fixture in Canada’s fiscal landscape, ensuring long-term certainty and fostering growth across the industry. 

Since its inception in 2000, the METC has been a cornerstone of Canada’s Flow-Through Shares (FTS) regime. In the past decade, the FTS regime accounted for equity raises of over C$7.5 billion - roughly 70% of the funds raised in Canada for domestic exploration.

In 2019, PDAC was encouraged when the federal government provided the industry with stability and continuity by extending the METC for a five-year term. Unfortunately, the government changed course last March, when they extended this vital financial incentive at the last minute for just one year. Now, we have significant concerns regarding future renewals.

Did you know?

  • The Mineral Exploration Tax Credit (METC) has been an important part of Canada’s fiscal landscape for over 25 years.
  • The METC doesn’t require any outlay of public dollars by the Federal Government.
  • The tax dollar that government gives up administering the METC generates more than 7X in mineral exploration and economic activity within Canada.
  • METC funds must be spent on the ground within 18 months, which generates jobs, corporate, personal, fuel and other tax revenue that effectively make the METC cost neutral for Government.
We still need your help to amplify our call to make the METC permanent. Please sign our support form below to add your voice!