EXPLORATION: Balanced BC budget preserves flow-through credit

VICTORIA, British Columbia – The government of British Columbia brought down a balanced 2015-16 budget, one that preserves the flow-through tax credit for explorers and increases funding for the Mines and Mineral Resources Division of Energy and Mines.

The provincial government has promised to boost the base funding of the Mines and Mineral Resources Division to $17.1 million, an increase of $6.3 million. The $10 million BC mining flow-through share credit has been extended through Dec. 31, 2015. Mineral exploration will also be exempt from permitting fees. The new mine allowance has been extended to Dec. 31, 2019, making it available to new mines and those with major expansions that begin production by that date.

"We thank the provincial government for maintaining a balanced budget overall while meeting its commitment to increase funding for the Mines and Mineral Resources Division of the Ministry of Energy and Mines," noted David McLelland, chair of Association for Mineral Exploration British Columbia. "We believe that this important budget lift will be a strong catalyst to increase public and investor confidence in the mineral exploration and development sector, particularly now and when the minerals cycle enters its next upswing."

Learn more about the work of the AME BC at AMEBC.ca or read additional highlights of the BC budget by clicking here.