News Releases

News Release - Manitoba

March 7, 2011

MINERAL EXPLORATION ASSISTANCE PROGRAM RENEWED FOR 2011 BY PROVINCE


Chomiak Announces $4.5 Million to Support Three-year Program

TORONTO—Support for mineral exploration and mining in Manitoba continues with a $4.5-million, three-year extension of the Mineral Exploration Assistance Program (MEAP), Innovation, Energy and Mines Minister Dave Chomiak has announced here at the Prospectors and Developers Association of Canada Conference. 

“Renewing MEAP is a sound investment for our mining industry, communities and the economy,” said Chomiak.  “MEAP attracts companies to explore in Manitoba, bringing investment dollars to the economy, creating jobs, adding to our geological knowledge base and increasing the potential to find new ore bodies that may be Manitoba’s next mine.”

The three-year term for the $4.5-million program begins April 1.  The program will provide funding of $1.5 million through one offering per year during the next three years.  The general program provides assistance of up to 25 per cent of approved eligible expenses to a maximum of $200,000 per recipient per fiscal year.

MEAP provides higher levels of assistance to encourage exploration in under-explored frontier regions and areas that need new discoveries to sustain existing communities such as Lynn Lake and Leaf Rapids, said the minister.

With a progressive mining tax rate of 10, 15 or 17 per cent based on profits and other mining tax incentives, Manitoba has among the most competitive mining tax regimes in Canada, said Chomiak.   Manitoba increased the Mineral Exploration Tax Credit to 30 per cent in 2010, offering Manitoba taxpayers the most generous mineral exploration tax credit in the country.

The province has been recognized nationally and globally as one of the best places for mineral exploration and mining, the minister added.  For more than a decade, the Fraser Institute survey of mining companies has consistently rated Manitoba as one of the top 10 jurisdictions worldwide for mineral policies favourable to mining investment.  In the 2010-11 survey, Manitoba ranked ninth worldwide and fourth in Canada for mineral policies, and first in Canada and sixth worldwide for accessibility and quality of geological data.

“Mining is Manitoba’s second-largest primary resource sector and is the primary employer in several Manitoba communities,” said Chomiak.  “The economies of many northern communities and indeed the whole province depend on the sustainability of a healthy mining sector.  MEAP funding sends a very positive message of encouragement to companies exploring in our province.”

- 30 -

BACKGROUND INFORMATION ATTACHED




Backgrounder
MEAP Summary, 1995 - 2010 - http://www.gov.mb.ca/asset_library/en/newslinks/2011/MEAPBkg.IEM.doc