OTTAWA, ON, Nov. 5, 2026 /CNW/ -- Today, the Government of Canada tabled Budget 2026 at a critical moment for Canada's mining industry. Intensifying global competition and growing demand for a secure supply of minerals and metals underscore the need for budget commitments that attract investment, increase production, and preserve and expand domestic processing capacity.

The Mining Association of Canada (MAC) welcomes renewed funding for the Canadian Critical Minerals Strategy, extensions to exploration tax incentives, and funding to advance Canada's Electricity Strategy and Nuclear Energy Strategy. Together, these measures support mineral development and investment in the infrastructure needed to strengthen Canada's critical minerals supply chains.

Budget 2026 builds on commitments in Budget 2025 and initiatives advanced throughout the past year, including the Critical Minerals Resilience and Production Alliance, Canada's Defence Industrial Strategy and the proposed Productivity Mega Deduction. These initiatives recognize mining's essential contribution to economic growth, industrial competitiveness and national security.

Of particular relevance, Budget 2026 proposes $2.3 billion in new funding to support the mining and critical minerals sector, specifically to:

• renew the Canadian Critical Minerals Strategy in support of strategic investments in the technology needed to mine and process critical minerals, expand geoscience and research capacity and provide targeted funding for priority critical minerals.
• extend the Mineral Exploration Tax Credit for an additional five years, until March 31, 2032.
• extend the Critical Mineral Exploration Tax Credit for an additional five years, until March 31, 2032, and include antimony as an eligible critical mineral.
• strengthen domestic supply chains that bring minerals from mine to market.

"Budget 2026 sends a strong signal to global investors and Canada's allies that Canada is committed to strengthening its mining and critical minerals industry," said Pierre Gratton, MAC's President and CEO. "These investments recognize mining's essential contribution to Canada's economic strength, industrial competitiveness and national security. The focus now is execution. With timely implementation and practical, predictable policies, we can turn these commitments into new mines, stronger domestic processing capacity, increased exports and well-paying jobs. This is an opportunity to expand Indigenous economic participation and strengthen Canada's role as a trusted supplier of minerals and metals."

Canada's mining sector contributed $111 billion to Canada's gross domestic product in 2024, representing more than 5% of the economy when mining, quarrying and oil and gas extraction are included. The sector directly employed 438,000 people and supported an additional 272,000 indirect jobs across the country. The industry is proportionally the largest private sector employer of Indigenous peoples in Canada and a major customer of Indigenous-owned businesses. 

About the Mining Association of Canada (MAC)

The Mining Association of Canada is the national organization for the Canadian mining industry. Its members account for most of Canada's production of base and precious metals, uranium, diamonds, metallurgical coal, mined oil sands and industrial minerals and are actively engaged in mineral exploration, mining, smelting, refining, and semi-fabrication.  Please visit www.mining.ca. 

SOURCE The Mining Association of Canada