Canada to Extend Mineral Exploration Tax Credit, Reuters Says

Canada is planning to extend its mineral exploration tax credit for two more years, according to a report from Reuters.

The 15% tax credit, which was set to expire March 31, applies to investors in flow-through shares of junior mining companies. Canadian Natural Resources Minister Jonathan Wilkinson told Reuters he expects the tax credit extension to provide C$110 million ($76.1 million) in investment support.

The tax credit is intended to help mining companies raise capital at a time when the government has sought to reduce investment by Chinese firms in Canadian mining projects.

Canada is scheduled to have a national ...