In the Legislature today (Mon), the Energy and Resources Minister introduced an amendment to the Mineral Resources Act to raise the Saskatchewan Mineral Exploration Tax Credit from 10 per cent to 30 per cent. Jim Reiter says increasing the incentive for mining exploration is one way to help the province’s economy grow.

Read more here:  Province releases critical mineral strategy

He expects the proposed change will improve the province’s competitiveness with other jurisdictions, making it the highest mineral exploration tax credit in Canada.  He adds, “The industry has long been requesting an increase like this, and we’re showing them that Saskatchewan is open for business.”

Because Saskatchewan is home to 23 of the 31 critical minerals on Canada’s Critical Mineral List, Reiter believes there is a significant opportunity to increase and diversify the province’s role as a global supplier of these commodities. The Act passed first reading today and is expected to pass into legislation this spring.