PDAC was encouraged to see a two-year extension of the Mineral Exploration Tax Credit (METC) announced on March 2, 2025, but legislation has not materialized. Ultimately, a long-term solution is essential to provide the certainty needed to reverse the decade-long decline in equity investment in grassroots exploration across Canada.

“Since its introduction in 2000, the METC has been indispensable to mineral exploration across the country — helping to generate billions in equity, creating jobs, supporting remote and Indigenous communities, and enabling major discoveries that feed into Canada’s broader mining ecosystem,” said PDAC President Karen Rees. “For every dollar the government forgoes, multiple dollars flow back into Canada’s economy, with rural, remote, and Indigenous communities seeing substantial benefits. Consequently, the program stands as one of the most productive federal initiatives available.”

Enacting a more permanent solution — through a ten-year extension of the METC, with an option to extend for an additional 10 years at the halfway point — will give Canadian companies a competitive edge and provide domestic investors with much-needed fiscal certainty.

PDAC calls on the future Government of Canada to prioritize this recommendation and introduce legislation as soon as the House of Commons resumes, urging all parties to support the effort so it can reach Royal Assent without delay. To see the full list of PDAC’s recommendations for parties in the 2025 federal election, visit: https://pdac.ca/programs-and-advocacy/regulatory-submissions/pdac-platform-roadmap

About PDAC

The Prospectors & Developers Association of Canada (PDAC) is the leading voice of the mineral exploration and development community — an industry that employs more than 711,000 individuals and contributed $159 billion to Canada’s GDP in 2023 according to Natural Resources Canada. Currently representing over 8,000 members around the world, PDAC’s work centres on supporting a competitive, responsible, and sustainable mineral sector.