The NDP government will double aide for prospectors in hopes of revitalizing Manitoba’s northern-centric mining industry.
The province announced Tuesday that the Mineral Exploration Assistance Program (MEAP) will dole out $3 million in grants in 2014-15, double the current levels.
“Increasing exploration assistance for mining companies and prospectors will reinforce Manitoba’s position as a mining-friendly jurisdiction,” Mines Minister Dave Chomiak said in a press statement. “The mining industry is a major employer and a key driver of the economy, so this will have a positive impact for the entire province.”
Assistance
MEAP provides assistance in the form of a partial refund of approved exploration expenditures. Hudbay is among its past benefactors.
Also in 2014-15, the province will provide new funding of $125,000 through the Manitoba Prospectors Assistance Program, which offers incentives to encourage mineral prospecting on private and Crown lands.
In addition, the province is introducing double work assessment credits for all eligible exploration expenses incurred in calendars years 2014 and 2015.
“The doubling of work assessment credits will help companies continue exploring during these challenging economic times,” said Chomiak.
Clearing blast mats for the electrical substation excavation at the Lalor mine site in May.
HUDBAY PHOTO
