FOR IMMEDIATE RELEASE
Vancouver – The Mining Suppliers Association of British Columbia (MSABC) applauds the Government of Canada’s extension of tax measures important to the mining sector in the Budget 2011. “In addition to the continued reduction of the corporate tax rate, mining suppliers will benefit from exploration activities stimulated by the one-year extension of the Mineral Exploration Tax Credit,” explained Patty Moore, Chair of MSABC.
Moore was also pleased with the extension of the two-year 50% accelerated capital cost allowance (ACCA) rate for investment in machinery and equipment undertaken by the manufacturing sector. “Suppliers will have another two years to take advantage of this policy for new investments in production technologies,” added Moore.
Budget 2011 has also authorized Ridley Terminals to borrow from capital markets to finance its expansion plans. “Infrastructure capacity plays a key role in determining whether or not a mining project becomes operational,” explained Moore. “The Ridley Terminals expansion, along with the competitive tax measures contained in Budget 2011, will assist the growth of our sector, to the benefit of over 900 mining supplier companies in BC.”
MSABC comprises suppliers, contractors and consultants to the B.C. mining industry who are committed to promoting the sustainability of this valuable resource sector.
For more information please contact MSABC at 604-681-4321 (Ext: 104) or by email