MSABC Applauds Commitment to Responsible Resource Development in Federal Budget 2012

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FOR IMMEDIATE RELEASE

Vancouver – The Mining Suppliers Association of British Columbia (MSABC) applauds the federal government’s commitment to the development of a responsible resource sector in Budget 2012. “MSABC is very pleased with the government’s commitment to establish a robust and more effective project review process and to provide new support for mineral exploration, Aboriginal consultation and small businesses,” said Patty Moore, Chair of MSABC.

Budget 2012 will support a robust and timely project review process by providing $54 million for the Major Projects Management Office to coordinate federal reviews and $13.6 million to support consultations with Aboriginal peoples. “These important measures will reduce delays by having a single responsible authority coordinating multi-departmental reviews at the federal level and by supporting Aboriginal consultations through the Environmental Assessment process,” said Moore. Budget 2012 also 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,” added Moore.

MSABC is also pleased that the 15‐per‐cent Mineral Exploration Tax Credit for flow‐through share investors was extended for an additional year, as well as the Hiring Credit for Small Business. “As mining projects develop throughout BC 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.”

MSABC comprises suppliers, contractors and consultants to the B.C. mining industry who are committed to promoting the sustainability of this valuable resource sector.

 

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For more information please contact MSABC at 604-681-4321 (Ext: 104) or by email