• Provinces call on Ottawa to expand mining credit

  Source: Global News Politics
  Date: 2026-10-10 12:17:12.0
  Tags: [National, British Columbia, Alberta, Saskatchewan, Manitoba, Nova Scotia, Taxation, Economy, Resources, Mining, Finance]

  Nearly half of Canada's provinces and territories—specifically Nova Scotia, Manitoba, Saskatchewan, Alberta, British Columbia, and Yukon—are urging the federal Liberal government to fulfill its 2025 election promise to expand the mineral exploration tax credit to include engineering and feasibility study costs. The Association for Mineral Exploration and the Nunavut and N.W.T. Chamber of Mines argue this measure is crucial to help junior mining companies navigate the late-stage 'valley of death' financing gap. An Ernst & Young report commissioned by the association indicates that covering feasibility and economic viability studies could generate between 14,000 and 34,000 jobs and add $5.2 billion to $12.2 billion in GDP over 10 years. While Finance Minister François-Philippe Champagne's office highlighted recent federal initiatives such as the Productivity Mega Deduction and the Critical Mineral Exploration Tax Credit, federal expenses under the Canadian exploration expenses framework still exclude economic assessments and feasibility studies.

  Read Original

• Sale of Baffinland's assets should be run by an independent officer, feds argues

  Source: Territories - Northern Affairs (Yukon, NWT, Nunavut)
  Date: 2026-10-09 21:52:54.0
  Tags: [National, Mining, Resources, Economy, Finance, Justice]

  Federal government lawyers and Export Development Canada (EDC) are arguing in the Ontario Superior Court that an independent, court-appointed officer should oversee the asset sale process for Baffinland Iron Mines Corp. Baffinland, which operates the Mary River Iron Mine on northern Baffin Island and employs over 1,200 workers, entered creditor protection in May owing $2.6 billion to 231 creditors and previously secured a $660-million loan from EDC to stay operational. EDC's legal representation argues that Baffinland's current operating committee faces conflicts of interest due to personal financial stakes, whereas Baffinland's counsel opposes the measure as an unprecedented attempt to rewrite contractual terms. Ontario Superior Court Judge Jana Steele has reserved her decision to be delivered in writing at a later date.

  Read Original