Canada Mining Industry Fiscal Regime Analysis – Governing Bodies, Regulations, Licensing Fees, Taxes, Royalties, 2023 Update

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Canada Mining Industry Report Overview

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, aluminum, 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 aluminum producer.

The Canada mining industry report provides comprehensive coverage of the Canada’s mining fiscal regime. It provides information on governing bodies, laws, and regulations. The report also includes mining-related taxes and royalties.

Governing Bodies Mining Association of Canada
Key Provinces ·       Alberta, British Columbia

·       New Brunswick

·       Nova Scotia

·       Saskatchewan

Taxes and Royalties ·       Corporate Income Tax

·       Sales Tax

·       Withholding Tax

·       Royalty Rate

Key Minerals ·       Uranium

·       Platinum

·       Gold

·       Nickel

·       Diamond

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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.

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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.

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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).

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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%.

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The report provides a comprehensive coverage on the Canada’s mining fiscal regime. It provides information on governing bodies, laws and regulations. The report also includes mining related taxes and royalties.

Reasons to Buy

  • To help businesses navigate the complexities and comply with the necessary requirements.
  • Obtain up-to-date information on mining sector taxes and payments.
  • Enhance your decision-making capability in a more rapid and time-sensitive manner.
  • Conduct analysis to mitigate the impact of regulatory changes.
  • Understand the regulatory framework.
  • Gain an overview of the mining industry structure by identifying Canada’s mining governing bodies, major laws, and licenses.

Table of Contents

  • 1 Executive Summary
  • 2 Country Overview

    • 2.1 Macroeconomic Performance
    • 2.2 Ease of Doing Business
    • 2.3 Corruption Index
    • 2.4 Minerals Overview

  • 3 Governing Bodies

    • 3.1 Mining Association of Canada

  • 4 Laws and Regulations

    • 4.1 Canadian Environmental Protection Act, 1999
    • 4.2 Canadian Environmental Assessment Act, 2012
    • 4.3 Metal and Diamond Mining Effluent Regulations, 2002 (Fisheries Act)
    • 4.4 Department of Natural Resources Act, 1994
    • 4.5 Resources and Technical Surveys Act, 1985
    • 4.6 Species at Risk Act, 2002
    • 4.7 Transportation of Dangerous Goods Act, 1992
    • 4.8 Mineral Exploration Tax Credit (METC)

  • 5 Leases and Licenses

    • 5.1 Alberta

      • 5.1.1 Coal leasing
      • 5.1.2 Metallic and Industrial Mineral Agreements

    • 5.2 British Columbia
    • 5.3 New Brunswick
    • 5.4 Nova Scotia
    • 5.5 Saskatchewan

  • 6 Taxes and Royalties

    • 6.1 Corporate Income Tax (CIT)
    • 6.2 Sales Tax
    • 6.3 Withholding Tax
    • 6.4 Royalty Rate

  • 7 Appendix

    • 7.1 Abbreviations
    • 7.2 Methodology
    • 7.3 Coverage
    • 7.4 Secondary Research
    • 7.5 Development Likelihood

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