A new way to review and approve major mining projects in Canada
The federal government set the groundwork for a robust and more effective project review process along with new support for mineral exploration in its recent Budget 2012 announcement.
Mining Suppliers Association of British Columbia out-going president Patty Moore said the association applauds these changes, as well as the support for aboriginal consultation and small business.
Ottawa’s new Major Projects Management Office will get $54 million to co-ordinate federal reviews and $13.6 million to support consultation with aboriginal people.
“These important measures will reduce delays by having a single responsible authority co-ordinating multi-departmental reviews at the federal level and by supporting aboriginal consultations through the environmental assessment process,” said Moore.
The revised legislation contains fixed timelines for project reviews and a commitment to recognize equivalency for provincial review processes.
“Regardless of whether the ultimate decision is a ‘yes’ or a ‘no,’ investors need to know that they will receive a decision on a proposed mining project in a timely fashion,” said Moore.
Budget 2012 also included a one-year extension of the 15 per cent Mineral Exploration Tax Credit for flow-through share investors and for the Small Business Hiring Credit.
“As mining projects develop throughout B.C. there will be many new opportunities for small businesses to provide consulting, construction and supply services for developing mining operations” said Moore. “The Hiring Credit will help these smaller businesses build the capacity they need to compete for contracts.”
