Budget 2008: Smart Investments in Canadian Mining



    OTTAWA, Feb. 27 /CNW Telbec/ - The Mining Association of Canada (MAC)
today expressed support for Budget 2008, tabled yesterday by the Honourable
Jim Flaherty, Minister of Finance.
    In particular, MAC welcomes the budget's investment of $34 million over
the next two years to improve geological mapping for resource development.
    "MAC has advocated for several years for renewed investment in
geoscience, critical to addressing the looming crisis in declining base metal
reserves." stated Gordon Peeling President and CEO of the Mining Association
of Canada. "Budget 2008's $34 million over two years for northern mapping is a
strategic investment that will create opportunities in northern Canada and
maintain Canada's global leadership position in mining."

    MAC also acknowledged other positive measures in the budget:

    
    1. Recognizing that "the mining and resource sectors could provide new
       and historic possibilities for many Aboriginal Canadians", Budget 2008
       dedicates $70 million over two years to support a new framework to
       help Aboriginal Canadians benefit from viable economic opportunities.
       Budget 2008 also dedicates $70 million over two years to support
       tripartite agreements to ultimately enhance education outcomes for
       First Nations students.

    2. Budget 2008 notes that changes will be made to the Immigration and
       Refugee Protection Act to improve the immigration process so that the
       system can quickly process skilled immigrants who can make an
       immediate contribution to the economy.

    3. The temporary 15% Mineral Exploration Tax Credit was extended an
       additional year, until March 31, 2009.

    Based in Ottawa, The Mining Association of Canada is the national
organization for the Canadian mining industry. Its members are engaged in
mineral exploration, mining, smelting, refining and semi-fabrication.
    




For further information:

For further information: Pierre Gratton, (613) 233-9392 ext 319,
pgratton@mining.ca


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