Mining

Canada’s mining industry has a celebrated past, vibrant present and exciting future, offering tremendous investment opportunities. It starts with leadership in metals and minerals: over 60 are produced here. Clean, renewable energy is abundant. Canada also offers strong capital markets to finance development, supportive governments at all levels and firm commitments to ESG principles. Foreign Investment Promotion and Protection Agreements (FIPAs) and free trade agreements (FTAs) provide unparalleled market access. The future of mining starts in Canada.

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The advantage you have in Canada is ESG. […] Part of the way we do business in Canada [is] governance, community outreach; we’ve got a history and a culture of mining here. So we know what it takes on the S and G side. But when you look at the environmental, Canada’s got one of the cleanest grids in the world.

Trent Mell, CEO, First Cobalt 
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7 Reasons why Canada is a global mining leader

Vast resources, excellent talent and an unparalleled ESG commitment. This is just the beginning of the reasons why global investors choose to invest in mining in Canada.

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Investing in mining in Canada

Canadian Minerals and Metals Plan

Launched in March 2019, the Canadian Minerals and Metals Plan (CMMP) includes six action plans to build on Canada’s mining leadership: Economic Development and Competitiveness; Advancing the Participation of Indigenous Peoples; Protecting the Environment; Science, Technology and Innovation; Communities; and Global Leadership.

Indigenous participation in mining has largely been driven through around 455 agreements signed between companies and communities. More than 600 Indigenous communities are located within a 100-kilometer radius of major minerals and metals projects, and more than 200 Indigenous businesses supply the extractive industry in Canada today.

With protecting the natural environment also being a core plan of the CMMP, the long-established, globally recognized Towards Sustainable Mining (TSM) standard is a strong reflection of ESG commitments in Canadian mining.

Incentives

The Accelerated Capital Cost Allowances (ACCA) can provide for a depreciation allowance of up to 100% of the asset cost. To be eligible, assets must have been acquired before the beginning of commercial production, or for major expansions, or (since 1996) for the portion of investment expenditures in excess of 5% of gross income from the mine.

The Mineral Exploration Tax Credit (METC) helps exploration companies raise equity funds by passing on tax credits to investors on eligible expenses. The 15% non-refundable tax credit can be applied against investors’ federal income tax that would otherwise be payable for the taxation year in which the investment was made.

Flow-Through Shares (FTS) allow foreign investors to transfer eligible exploration and development expenses to their beneficial owners, which can then be applied for tax credits for these expenditures.

The Scientific Research and Experimental Development (SR&ED) Program provides income-tax credits and refunds for expenditures on eligible R&D activity in Canada.

Canadian Exploration Expense Claims (CEEs) and Canadian Development Expense Claims (CDEs) are separate federal income tax deductions for expenses related to mining exploration and mining development.

You're in good company

Recent Investment Announcements

Aug2021

BHP

Anglo-Australian BHP announced it is moving ahead with the Jansen Potash Project in Saskatchewan. The single largest investment in the province’s history, the Jansen project will see BHP investing $7.5 billion, in addition to the $5 billion already spent. The project will create 3,500 jobs during construction and 600 direct jobs upon completion at the mine site and corporate office in Saskatoon.

Mar2021

BHP

Anglo-Australian BHP has moved its exploration headquarters for nickel and copper from Santiago, Chile and Arizona, USA to Toronto. BHP’s move to Canada comes as nickel and copper expect to see increased future demand from electric vehicle industry growth.

Jan2021

Piedmont Limited

Piedmont Limited (Australia) invested $14.5 million in Sayona Mining’s lithium project in Quebec with a supply agreement for 50% of the mine’s lithium spodumene production.

Jul2020

Sumitomo Metal Mining

Sumitomo Metal Mining (Japan) entered into a joint venture with Canadian mining company IAMGOLD to proceed on construction of the US$ 1.3 billion Côté Gold Project near Gogama, Ontario. A world-class gold deposit, Côté is anticipated to generate over 1,000 jobs during construction and450 jobs during operations.

Feb2018

Rio Tinto

Anglo-Australian-headquartered Rio Tinto announced plans to invest $250 million in its Vaudreuil alumina refinery, extending operations at the plant beyond 2022. The refinery supports over 1,000 jobs in Quebec’s Saguenay-Lac-Saint-Jean region.

Jan2018

ArcelorMittal

ArcelorMittal Long Products Canada, a subsidiary of Luxembourg-based ArcelorMittal, invested nearly $70 million in its Contrecoeur, Quebec steel production facilities. The investment enables the company, which supports 1,700 direct jobs in Quebec and Ontario, to maintain its leading position in steel in North America, with a focus on product quality facilitated through modern plants and a reduced environmental footprint.