Canada Mining Fiscal Landscape – Regulations Governance and Sustainability
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
GlobalData's " Canada's Mining Fiscal Landscape Regulations Governance and Sustainability (2024)" provides a comprehensive coverage on Canada's mining fiscal regime. The report provides country's overview with macroeconomic performance, corruption index, Mineral sector capital expenditure and mineral overview. It also provides a comprehensive coverage on the country’s mining regulatory bodies, laws, mining leases and licenses, as well as taxes and royalties. The report further provides Canada's sustainable mining practices covering its climate targets
Canada is one of the largest mineral producers globally, producing more than 60 metals and minerals and is among the leading producers of potash, uranium, platinum, indium, aluminium, sulphur, cobalt, nickel, zinc, iron ore, graphite and copper. Furthermore, the country is one of the world's largest importers of bauxite, enabling it to be the world's fourth-largest primary aluminium producer.
Canada’s mining industry is governed by different departments and agencies under provincial governments. However, in cases such as mineral activities on federal lands and offshore areas, as well as the usage of uranium as a nuclear fuel (from exploration to the disposal of mine waste), a pivotal role is played by the federal government. The Canada Revenue Agency (CRA) governs the tax-related laws in the country. It also manages several socio-economic benefit programs such as incentive systems delivered through the tax system.
Canada Mining Industry Dynamics
Canada was ranked 23rd among 190 countries covered by the World Bank’s 2020 Ease of Doing Business Index. The Department of Natural Resources is the prime body that governs natural resources in Canada. It is responsible for the development, management, conservation and protection of mines and minerals, energy, and forests in the country. Some of the key minerals produced in the country are uranium, platinum, gold, nickel, and diamond.
Moreover, provinces in Canada have separate acts and regulations set up for the management and development of the mining industry. Various taxes, including corporate income tax, sales, and withholding tax, are applicable to the companies operating in the country. Such available taxes are anticipated to drive the Canada mining market during the forecast period.
Buy the Full Report to Get More insights on the Canada Mining Industry Dynamics,
Canada Mining Industry - Key Governing Body
The key governing body in the Canadian mining industry is the Mining Association of Canada. The Mining Association of Canada (MAC), established in 1935, is the national organization of the Canadian mining industry. MAC’s functions include advocacy, stewardship, and collaboration. It aims to promote the industry’s interests nationally and internationally, work with governments on policies affecting minerals, inform the public, and encourage member firms to cooperate to solve common problems faced by companies at the provincial level.
Buy the Report to Get more Insights on the Governing Bodies of the Canadian Mining Industry or Download a Free Sample Report
Canada Mining Industry – Leases and Licenses in Key Provinces
The main provinces in the Canada mining industry are Alberta, British Columbia, New Brunswick, Nova Scotia, and Saskatchewan. The report covers the leases and licenses pertaining to the mining industry in each province.
Alberta: Coal leasing and metallic and industrial mineral agreements are the main mining options in Canada. There are two types of coal leases in Alberta. Coal leaseholders in the province pay an annual rent of US$2.7 (CAD3.50) per hectare. They also pay royalties on the coal produced. The commodities which fall within the purview of the Metallic and Industrial Minerals include diamonds and other precious stones; gold, iron and other precious base metals; limestone and other stone; and salt (i.e. minerals other than oil, gas, coal, oil sands, ammonite shell, and surface materials).
Buy the Full Report to Get More Insights on the Leases and Licenses in Each Province Of The Canadian Mining Industry or, Download a Free Sample Report
Canada Mining Industry – Taxes and Royalties
The main taxes applicable in the Canadian mining industry are Corporate Income Tax (CIT), Sales Tax, Withholding Tax, and Royalty Tax.
Corporate Income Tax (CIT): The basic federal rate is 38% of taxable income, which reduces to 28% after federal tax abatement (10% of taxable income). In addition, a general tax reduction of 13% (only applicable for corporations that are subject to 38% tax rate) further reduces this to a net tax rate of 15%. Effective from 1 January, 2019, for Canadian-controlled private corporations claiming a small business deduction, the net tax rate is 9%.
Buy the Full Report to Get More Insights on the Taxes And Royalties in the Canadian Mining Industry or, Download a Free Sample Report
Scope
The report outlines the governing bodies, governing laws, various mineral licenses and fees by province and territory
Reasons to Buy
• Enhance your decision-making capability in a more rapid and time sensitive manner
• Find out Canada's governing bodies, major laws in the industry
• Identify various mineral licenses and fees
• To gain an overview of Canada's mining fiscal regime
Table of Contents
Table
Figures
Frequently asked questions
-
Which is the main governing body in Canada mining market?
The key governing body in Canada mining industry is the Mining Association of Canada.
-
What are the key provinces in the Canada mining market?
The key provinces in the Canada mining market are Alberta, British Columbia, New Brunswick, Nova Scotia, and Saskatchewan.
-
Which are the key taxes applicable in the Canada mining market?
The main taxes applicable in the Canadian mining industry are Corporate Income Tax (CIT), Sales Tax, Withholding Tax, and Royalty Tax.
-
What are the key minerals in the Canada mining market?
Uranium, Platinum, Gold, Nickel, and Diamond are the key minerals in the Canada mining market.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.