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☆ Mining Industry Seeks to Define One Global Standard for Ethical Practices
  + stars: | 2023-11-23 | by ( Yusuf Khan | ) www.wsj.com   time to read: +6 min
Customers and investors are increasingly considering mining companies’ ESG performance. Photo: douglas magno/Agence France-Presse/Getty ImagesMining giant Anglo American is one of the companies that have been involved in developing the new mining standard. Anglo American itself commits to at least nine different mining standards and is part of 17 industry associations, which all have their own requirements. The LME has been consulted on the development of the new mining standard. For now, work continues on the new mining standard, with the four associations still discussing what it should look like and how it would be governed.
Persons: Cynthia Matonhodze, ”, “, Tracey Kerr, douglas magno, Rebecca Campbell, ” Campbell, Campbell, Paul Hackett, Georgina Hallett, Yusuf Khan Organizations: Bloomberg, International Council, Mining, Metals, Gold Council, Mining Association of Canada, Miners, Business, Global Investor Commission, ING, Jubilee Metals Group, Hochschild, ” Mining, Agence France, Getty, White, London Metal Exchange, REUTERS Locations: Umguza, Zimbabwe, Dutch, Brazil, London, Brumadinho, American, ”
☆ Canada's budget measures brighten funding prospects for critical miners
  + stars: | 2023-04-09 | by ( Divya Rajagopal | Thomson Reuters | Divya Rajagopal Reports On Canada Mining Sector | ) www.reuters.com   time to read: +3 min
TORONTO, April 9 (Reuters) - Canada's move to expand the investment tax credit for mining companies to align it with policies in the United States is accelerating funding talks for critical miners, company executives told Reuters. Prime Minister Justin Trudeau's government proposed a 30% investment tax credit for expenses related to the exploration of critical minerals in the latest budget announced last month. This incentive also covers investors planning to buy shares in certain critical mining companies such as those in the exploration of lithium brine. Several junior mining companies in western Canada are optimistic about the fund raising prospects and are in talks with banks for financing, Doornbos added. "These measures do level the playing and put us in a stronger position," said Pierre Gratton, CEO of the Mining Association of Canada.
☆ Reactions: Canada 2023/24 budget deficit to jump, Ottawa to boost spending
  + stars: | 2023-03-28 | by ( ) www.reuters.com   time to read: +7 min
JULES BOUDREAU, SENIOR ECONOMIST, MACKENZIE INVESTMENTS"The surprise was more on the revenue side more than the spending side. Prior to this budget we were not eligible for the carbon capture utilization and storage (CCUS) investment tax credit, but they have now broadened the eligibility parameters." "The big open question, heading into this budget was how was Canada going to react to the Inflation Reduction Act ... MARK ZACHARIAS, EXECUTIVE DIRECTOR OF CLEAN ENERGY CANADA"We thought today's budget was generally excellent and it sets Canada on a path for prosperity. "The investment tax credits for clean tech manufacturing positions Canada as a leader, particularly in zero-emissions vehicles."
☆ Exclusive: Canada budget to have tax credit for equipment used to produce EVs -sources
  + stars: | 2023-03-23 | by ( Steve Scherer | ) www.reuters.com   time to read: +4 min
The credit will be available for future investments in equipment used to extract and process critical minerals used in EVs, a second source said, and to purchase equipment used in manufacturing along the entire EV supply chain, including for batteries. Last year, Canada budgeted C$3.8 billion ($2.8 billion) to scale up exploration and infrastructure for critical minerals. Canada has an abundance of the critical minerals used to produce EVs. Last autumn, Canada announced investment tax credits for companies that purchase finished clean energy systems, like solar panels. Instead, the new tax credit will apply to manufacturers buying equipment to build things like solar panels.
☆ Miners grow anxious as Canada tightens foreign investment rules
  + stars: | 2023-03-05 | by ( Divya Rajagopal | ) www.reuters.com   time to read: +3 min
Ottawa last fall proposed bolstering its Investment Canada Act (ICA) to give government ministers power to block or unwind critical minerals investments if they believe such deals threaten national security. Nearly half of the world's mining companies are listed in Toronto and the city has long been a premier destination for junior mining companies to raise funds, above even rival exchanges in Sydney, New York and London. Canadian officials last fall ordered Chinese companies to sell stakes in three Toronto-listed lithium companies, two of which are developing mines outside Canada. Canada's Industry Ministry, which is spearheading the rules change, called critical minerals "key to the future prosperity of our country." However, the government's crackdown could rebound and hurt Canada as the mining industry underpins a large part of the country's economy, investors and analysts say.
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