Supporting Canada's Rural Communities is a budget plan proposal aimed at supporting rural communities and includes a provision on supporting critical minerals projects.
The budget proposal would allocate 3.8 billion CAD over eight years, starting in 2022-2023, to implement Canada's first Critical Minerals Strategy. The 3.8 billion CAD would include:
- 1.5 billion CAD over seven years, starting in 2023-2024, for infrastructure investments that would support the development of the critical minerals supply chains, with a focus on priority deposits.
- 79.2 million CAD over five years, starting in 2022-2023, for Natural Resources Canada to provide public access to integrated data sets to inform critical mineral exploration and development.
- The introduction of a new 30 per cent Critical Mineral Exploration Tax Credit for specified mineral exploration expenses incurred in Canada and renounced to flow-through share investors.