Source: Mining Association of Canada
Headline: Budget 2025 Historic for Canada’s Mining Sector

Ottawa, November 4th, 2025 – MAC applauds today’s federal budget, which contains many measures
that will enhance the competitiveness of Canadian mining and accelerate investments in critical
minerals.

Budget 2025 responds directly to several requests from the Mining Association of Canada and follows
through on a number of mining-related commitments in the federal Liberals’ 2025 election platform.
Specifically, the budget proposes and is not limited to the following:

• to provide $2 billion over five years, on a cash basis, starting in 2026-27, to Natural Resources
  Canada to create the Critical Minerals Sovereign Fund. The fund will make strategic investments
  in critical minerals projects and companies, including equity investments, loan guarantees, and
  offtake agreements.

• to provide $371.8 million over four years, starting in 2026-27, to Natural Resources Canada to
  create the First and Last Mile Fund. This new fund would support the development of critical
  minerals projects and supply chains at the upstream and midstream segments of value chains,
  with a focus on getting near-term projects into production. The First and Last Mile Fund would
  absorb the Critical Minerals Infrastructure Fund and leverage its existing funding envelope to
  provide up to $1.5 billion in support through 2029-30. The fund would also continue to support
  clean energy and transportation infrastructure projects related to critical minerals development.

• to create the Productivity Super-Deduction—a set of enhanced tax incentives covering all new
  capital investment that allows businesses to immediately write off a larger share of the cost of
  these investments.

• to remove the proposed oil and gas emissions cap, providing the oil sands mining sector with
  greater investment certainty.

• to extend the availability of the Carbon Capture Utilization and Storage Tax Credit full credit
  rates by five years so that the full rates apply to eligible expenditures from the start of 2022 to
  the end of 2035.

• to expand eligibility for the Critical Mineral Exploration Tax Credit (CMETC) to include an
  additional 12 critical minerals necessary for defence, semiconductors, energy, and clean
  technologies: bismuth, cesium, chromium, fluorspar, germanium, indium, manganese,
  molybdenum, niobium, tantalum, tin, and tungsten.

• to expand eligibility for the Clean Technology Manufacturing Investment Tax Credit to support
  polymetallic extraction and processing, a longstanding MAC request, and expanding the list of
  critical minerals eligible for the Clean Technology Manufacturing investment tax credit to
  include antimony, indium, gallium, germanium, and scandium.

• to increase total business facilitated by Export Development Canada by $25 billion by 2030 to
  support expanding Canada’s exports and trade development activities in sectors of strategic
  importance for Canada, including in critical minerals, energy, clean technology, infrastructure,
  and defence.

• to renew the Mineral Exploration Tax Credit until 2027, as announced by the previous
  government last March.

• to increase funding to the Canada Infrastructure Bank by $10 billion for nation-building projects.

• to allocate $1 billion to Transport Canada to create an Arctic Infrastructure Fund.

• to allocate 443.0 million over five years, starting in 2025-26, to Natural Resources Canada and
  ISED to support the development of innovative critical minerals processing technologies,
  support joint investments with Allies in Canadian critical minerals projects, and develop a critical
  minerals stockpiling mechanism to strengthen Canadian and Allied national security

• a number of measures to support youth employment, including new funding for the Youth
  Employment Strategy.

• committing to introduce legislative amendments to the Competition Act to remove some
  aspects of the greenwashing provisions while maintaining protections against false claims.

“Budget 2025 confirms the federal government’s unwavering commitment to the Critical Minerals
Strategy released three years ago,” stated Pierre Gratton, MAC’s CEO. “These measures, taken together,
send a powerful signal to the mining industry, global investors and Canada’s allies that Canada is very
serious about improving the competitiveness of Canada’s mining industry. Today’s budget promises to
usher in a new era in mining investment, creating high paying jobs, boosting exports, creating major
opportunities for Indigenous Canadians and protecting Canadian sovereignty for years to come. We urge
the government to implement these proposals expeditiously.”

Note: This text is taken directly from the press release. Boreal Data adds no commentary, interpretation, or analysis.