MAC encouraged by budget measures aimed at economic stimulus



    OTTAWA, Jan. 28 /CNW Telbec/ - The Mining Association of Canada (MAC)
views the Federal Budget 2009, tabled yesterday, as being appropriate for the
times. Investments in infrastructure, as well as providing greater access to
credit, are positive steps in addressing the economic downturn.
    "These are economically challenging times for our industry, and MAC is
encouraged by budget initiatives aimed at providing economic stimulus and a
path forward," said Gordon Peeling, President and CEO of MAC. "MAC is also
supportive in principle of infrastructure spending that will increase demand
for raw materials and ideally result in improved access to resources in the
far north."
    MAC welcomes the creation of the new regional economic development agency
for the North and looks forward to working with the agency to advance resource
development and economic opportunity for Northerners and Aboriginal People.
    Other positive measures in the budget include:

    
    - Extension of the temporary 15 percent Mineral Exploration Tax Credit
    - Investment in the Aboriginal Skills and Employment Partnership
      Initiative, and the Aboriginal Skills and Training Strategic Investment
      Fund
    - Improved access to financing through the measures contained within the
      Extraordinary Financing Framework
    - Funding for a Community Adjustment Fund oriented toward resource-
      dependant communities
    - Strengthening of labour adjustment programs and training for unemployed
      workers
    

    MAC is encouraged that the previously-announced corporate income tax
reductions were maintained and notes that while the extension of the 50%
accelerated capital cost allowance rate for investment in machinery and
equipment will provide some incentives for new spending on capital, more
aggressive measures could be taken to encourage major investments in capital
spending and innovation.

    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: Paul Stothart, VP Economic Affairs, Mining
Association of Canada, (613) 292-4991, pstothart@mining.ca


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