B.C. miners applaud government initiatives

A series of initiatives introduced by the British Columbia government are designed to bolster that province’s sagging mining industry by attracting investment and creating jobs.

The initiatives, which resulted from 18 months of consultation among representatives of industry, labor and government, come at a time when B.C.’s miners are still struggling to recover from investor indifference caused by uncertainties related to land use and mineral tenure.

The policy package consists of:

* legislation recognizing the right to hold land tenure and receive compensation in the event of expropriation;

* a mineral exploration code designed to simplify permitting; * creation of a government mining advocate position; and

* a refundable exploration tax credit worth up to $9 million per year.

The changes are crucial in halting the slide in exploration investment in the province, according to Bruce McKnight, executive director of the B.C. & Yukon Chamber of Mines. “If the government follows through, this could mark a real turnaround for exploration in British Columbia.”

McKnight adds that guarantees to mineral titles and compensation for expropriated land will provide assurance to potential investors.

He cautions, however, that more work needs to be done, especially in terms of providing incentives to producers, many of whom believe provincial tax laws prevent them from being competitive.