MABC Supports Federal Commitment to Streamline Review Process for Mining Projects

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 29, 2012) - The Mining Association of British Columbia (MABC) commends the federal government for the commitment shown in today's budget to modernize the review process for resource projects based on the principle of "one project, one review." The MABC is also pleased to see the commitments to invest in aboriginal training and education, and changes to the immigration rules, both of which will support the industry's growing labour needs.

With new and expanding mining projects proposed across BC, it is timely for the federal government to propose to modernize the review process for major economic projects. The goal of establishing clear timelines and reducing duplication and regulatory burden can be expected to improve Canada's competitiveness in the resource sector, help create jobs and ensure the environment is protected.

"This reform will move us towards a more efficient regulatory system for mining projects in Canada, and recognizes the importance of British Columbia's environmental assessment process," said Karina Briño, President and CEO of MABC. "We look forward to a clear and consistent review of mining projects."

The budget also proposed $165 million in spending over two years towards responsible resource development, which Finance Minister Jim Flaherty said will be used to help spur job creation and protect the environment. That money includes $54 million to renew the Major Projects Management Office to support project approvals, according to the budget documents. There is also $13.6 million being set aside to support consultations with indigenous peoples to ensure that their rights and interests are respected.

The mining industry in BC sets progressive performance indicators for itself in the areas of technological improvements, environmental practices, and community engagement. "When all of these pieces of the puzzle fit together, everyone benefits. Working collaboratively with aboriginal communities is a crucial part of any responsible, sustainable development project plan," Briño said.

MABC is also pleased with the federal government's decision to extend for another year the 15-per-cent Mineral Exploration Tax Credit for flow-through share investors. The tax credit gives Canadian-based projects a competitive advantage and helps to ensure investment in mineral exploration remains in Canada.

About the MABC

MABC represents companies involved in the exploration and development, mining and smelting of minerals, metals, coal and industrial minerals in British Columbia. It is regarded as the pre-eminent voice of mining in the province.