Federal Budget 2015 Promises Funds for Ring of Fire, Forestry – Mining Life

Apr 23, 2015

The federal budget holds plenty of funds for northwestern Ontario, according to Natural Resources Minister Greg Rickford.

Rickford, the Conservative MP for the riding of Kenora, said the government will spend $23 million over five years for chromite processing. Chromite is the key mineral in the Ring of Fire mining development area. There were other mining benefits, as well.

“We’ve extended the mining exploration tax credit and expanded the definition of mining exploration expenses to include the costs of community consultations and environmental assessment process to be 100 per cent deductible, effective immediately,” he said on Tuesday.

The Conservative government tabled the federal budget on Tuesday with a $1.4 billion surplus, down from $6.4 billion projected a year ago and $1.9 billion in November.

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