• 139 days Could Crypto Overtake Traditional Investment?
  • 143 days Americans Still Quitting Jobs At Record Pace
  • 145 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 148 days Is The Dollar Too Strong?
  • 149 days Big Tech Disappoints Investors on Earnings Calls
  • 150 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 151 days China Is Quietly Trying To Distance Itself From Russia
  • 152 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 156 days Crypto Investors Won Big In 2021
  • 156 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 157 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 159 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 159 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 163 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 163 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 164 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 166 days Are NFTs About To Take Over Gaming?
  • 166 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 169 days What’s Causing Inflation In The United States?
  • 170 days Intel Joins Russian Exodus as Chip Shortage Digs In
The Green New Deal Is Great News For Miners

The Green New Deal Is Great News For Miners

Exponential expansion of global mining…

Can Canada Revitalize Its Mining Industry?

Can Canada Revitalize Its Mining Industry?

Canada ranks among the top…

Rio Tinto Vies To Become Top U.S. Lithium Producer

Rio Tinto Vies To Become Top U.S. Lithium Producer

Rio Tinto, the world’s No.…

Mining.com

Mining.com

Mining.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

Contact Author

  1. Home
  2. Commodities
  3. Other

Canadian Miners Push For A More Competitive Legal Framework

Mining

The Canadian Mineral Industry Federation, the Mining Association of Canada, and the Prospectors & Developers Association of Canada issued a brief this month urging provincial, federal and territorial mine ministers to take action to ensure Canada remains a globally competitive jurisdiction and can continue to attract mineral investment.

 

As the alliance of associations has done in the past two years, the brief proposes a series of recommendations aimed at counteracting global competitive forces and promoting government regulatory, infrastructure and financial support for the sector. 

One of the top priorities for the industry is providing a clear framework for investors. In detail, miners are asking for a strategic review of Canada’s tax regime to make the country more attractive to those funding mineral development projects. 

Hand-in-hand with less stringent taxes goes -in industry’s view- appropriate access to prospective lands, sound implementation of the 2019 Federal Impact Assessment Act, and expanded investments in remote and northern infrastructure.

According to the document, Canadian miners would also like for the different levels of government to engage in free trade and investment agreements that open doors for them to export not only their products but also their expertise and business practices.

“Without the vital support of governments to achieve the recommendations by CMIF, Canada’s exploration and mining industry —once envied the world over for its mineral wealth and abundance of exploration and extraction expertise— will continue slipping from its position of dominance,” Felix Lee, president of the Prospectors & Developers Association of Canada, said in a media statement. “As foreign competition soars, we are left chasing countries that once viewed us as the global benchmark. The recommendations, in partnership with the CMMP [Canadian Minerals and Metals Plan], will ensure Canada’s continued success as a leader in exploration and development.” Related: Investor Sentiment Unfazed By Facebook's $5 Billion Fine

Besides their traditional trading practices, firms based in the North American country say they want to be supported in their goal of becoming leaders in the provision of raw materials used by other industries such as clean-tech, manufacturing, transportation, high-tech, and aerospace and defence.

As they work towards such a goal, miners say they want to ensure they do it in a responsible manner, not only in their interactions with local and Indigenous communities but also when it comes to preventing carbon leakage from their operations. 

“Respecting the country’s biodiversity also continues to be a priority for the sector and ensuring appropriate approaches to conserving species at risk will play a pivotal role in Canada’s exploration and mining future,” the report reads.

By Mining.com

More Top Reads From Safehaven.com

Back to homepage

Leave a comment

Leave a comment