News Bites
How Canada's strategic metal strategy can help juniors and miner - Fireweed Zinc
(Kitco News) - Fireweed Zinc CEO Brandon Macdonald sees concrete help from Canada's critical metal strategy initiative announced in April 2022.
On Friday Macdonald spoke to Kitco at the Deutsche Goldmesse conference in Frankfurt, Germany.
Fireweed Zinc (CVE:FWZ) is advancing its 100% owned, district-scale, 940-square-km Macmillan Pass project in Yukon, Canada, which is host to the Tom and Jason zinc-lead-silver deposits. The company has a mineral resources and a PEA economic study for the project.
In the spring the Canadian government released a critical minerals strategy, which would provide up to $3.8 billion in support over eight years, according to an analysis by Torys. The package included a critical mineral exploration tax credit, a new 30% targeted exploration flow-through tax credit for select mineral exploration expenses incurred in Canada. Eligible companies are targeting nickel, lithium, cobalt, graphite, copper, rare earths elements, vanadium, tellurium, gallium, scandium, titanium, magnesium, zinc, platinum group metals and uranium deposits.
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"[The tax credit] is just a little bit extra right and and equally important [is] the billions of dollars that the federal government has set aside for infrastructure to critical metal projects. Canada is a big country. A lot of these deposit, like ours, are reasonably remote. Having access to federal funds for infrastructure definitely reduces the cost of entry for these remote projects."
