MABC Supports Changes to HST

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2011) - The Mining Association of BC (MABC) supports the changes to the HST announced today by the BC government.

"The Mining Association of BC is pleased to hear that the government has listened to the citizens of BC and made thoughtful changes to improve public acceptance of the HST which will reduce the chance of reverting to the old PST/GST system," said John McManus, Chair of the MABC. "Although the accompanying temporary increase to general corporate tax is not welcome to business, it is recognized that overall the changes are fiscally responsible while reducing or eliminating the impact of the HST to BC families and also maintainingthe competitive position of BC business, including the mining sector."

Mining contributes over $7 billion annually to BC's GDP and employs over 14,000 people directly in high paying, high skilled jobs. BC's mining sector is currently undergoing tremendous growth with three new mines in construction and many more projects right behind. The HST is a modern more efficient tax system that helps to improve the investment climate for building new mines in BC, resulting in the creation of thousands of new jobs in all regions of the province.

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.